Operations: Sustainable sites lead to simpler life

San Marco, a Walking Oasis in Jacksonville, FL. Every neighborhood has some walkability or simple mobility element.

In the prior post on LEED v3 changes, I touched on the sustainable sites requirement. Essentially LEED is attempting to encourage a bit of smart growth by reducing the number of vehicle trips generated by development (and separately develop in areas with existing infrastructure or minimally disturbed greenfields). For this post, I’m focusing on existing communities that either are not actually or do not consider themselves sustainable sites.

Operationally, you can create a sustainable site by studying your neighborhood, using resources such as Yelp, Urban Spoon, and other location-based web services to help residents find their way. For those exploring social media, culling local event listings provides great fodder for resident-focused Twitter feeds.

Celebrating or publicizing neighborhood based events, services, or vendors enables managers to serve as (apartment) community resources, local economic generators, and pushes the apartment community into the center of a resident’s life, rather than simply a place to sleep. Understanding and sharing information about locally-based resources puts a little more meat to the notion of “Life made simple.”

Focusing on your immediate surroundings improves your local outreach efforts by showing businesses 1) your property is a part of the neighborhood, not just a parcel; 2) better acquaints you with the employers and employees of the neighborhood. Finding potential residents within your local surroundings greatly improves the chances of renewal, and I strongly believe reduces your overall marketing costs.

As an operationally-focused asset manager with a portfolio of over 50 properties nationwide, I consistently found that 35-50% of my new resident prospects came through drive-by. When added to the number of resident referrals, that number was consistently between 40-65% of total applications. Signage, landscaping, and general appearance (all of which affect existing residents as well) is a far stronger indicator of the living environment than a static print ad. Reaching prospects while in the context of searching for a new home and residents while in the context of their daily life is a better use of marketing efforts because it provides something of use to your customers. Very few management companies do this well and with such a low hurdle, any sustained effort is appreciated.

At every property visit, in every conversation with managers and leasing agents, I asked some variation of the following questions, my keys to a ‘sustainable site’:
1. Do you know where you are? Do you know how to get here?
2. Who lives here and why?
3. Where do your residents work?
4. What is there to do around here?
5. Where is the nearest park, house of worship, child care center, grocery store, and school?
6. How do you involve the property with the surrounding community?

If you can’t identify your property as part of a larger community and explain that role to a resident, you’re not trying to improve sustainability, you’re not looking beyond your property line, but most damning, you’re not trying to make life simpler for your residents.

News: WBJ summarizes LEED v3

The Washington Business Journal provides a quick summary of changes in the new LEED 3.0 standard.

The standard implements and expands upon a few items I’ve written about before, specifically “sustainable sites” as part of a post, “Where does your life take place?” and “Needs more data”.

From an operational perspective energy tracking and reporting requirement (LEED requires reporting to the USGBC for 3-5 years) is the most important improvement from prior versions. Tracking and analyzing energy usage, comparing to baseline, and looking for additional efficiencies should be the most lasting legacy of this LEED version. While the reporting requirements have invited animated discussions, using energy analysis to improve LEED and all building science provides the path toward cost savings and greater loan proceeds (two items close to any developer’s heart).

I’ll have a short post on additional operational implications shortly.