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Environmental Sustainability & Tech

Anthony Ing,
Co-Founder, Condonexus

6 Big Green Ideas

to Lower Condo Fees

For businesses, the question “Does risk-averse. Faced with the choice When Green Becomes a
it pay to be green?” is increasingly between an innovative new approach Necessity
answered with a resounding “yes.” and the comfort of the status quo, However, the last few years have
Commercial real estate projects are being most condo boards and management brought a rude awakening. Condo fees
constructed to meet rigorous LEED teams will stick with what they know. have spiked in ways no one could have
standards, while logistics companies are The incentives to experiment are predicted, driven by skyrocketing insur-
electrifying their fleets, and municipali- rarely compelling enough for a board, ance premiums, escalating electricity
ties are even embracing energy-efficient and the potential downsides—such as and gas prices, and soaring reserve fund
LED lighting on a massive scale. But cost overruns or owner pushback—are requirements. These rising costs have
for condominium boards and property often too daunting. shifted the calculus. Suddenly, green
Photo: © iStock.com/ suriya khongprasert Sustainability Standoff in important. Condo management tends gies to keep condo fees in check.
managers, the decision to go green isn’t
projects that once seemed like optional
The second reason lies in the clas-
upgrades now look like essential strate-
sic conflict between the urgent and the
quite as clear-cut.
The high-rise condo where I’ve had
to be reactive, focusing on fixing what’s
the privilege of serving as a director
broken rather than investing in long-
Condos
since 2008 is a testament to the value of
So, if there are so many high term solutions. With property managers
investing in the right green technologies.
return-on-investment green projects already stretched thin, finding time to
By strategically implementing green
available, why aren’t condos leaping at implement energy-saving initiatives
the chance? I believe the reasons are that promise future savings can feel like
technologies over the last decade, we’ve
two-fold. First, condos are inherently a luxury, not a necessity.
slashed operating costs and reinvested
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