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ENVIRONMENTAL SUSTAINABILITY

In everything we do from our portfolio properties to corporate offices, we are ardent believers in environmental sustainability and energy conservation not just because it’s good for the environment but it’s good for business. CRP invests in green technologies at its communities in order to conserve energy and reduce utility costs while enhancing the quality of living for its residents.

GREEN HOMES (CASA VERDE) PROGRAM

Furthering CRP’s triple bottomline approach, the firm has implemented its Green Homes (Casa Verde) Program. CRP’s stakeholders have a vested interest in the “greening” of its properties and enhancing the air, water, and overall living quality for its residents. Workforce housing assets present numerous opportunities to improve the air quality, water quality, electric consumption, and gas usage for residents and reduce the energy footprint of these communities. As a result, CRP’s Green Homes Program helps lower its residents’ effective cost of housing and alleviate housing cost burdens for working class residents, which serves as a competitive advantage and makes CRP properties more attractive from a cost, quality of life, and business philosophy standpoint.

photo_green1Furthering CRP’s triple bottomline approach, the firm has implemented its Green Homes (Casa Verde) Program. CRP’s stakeholders have a vested interest in the “greening” of its properties and enhancing the air, water, and overall living quality for its residents. Workforce housing assets present numerous opportunities to improve the air quality, water quality, electric consumption, and gas usage for residents and reduce the energy footprint of these communities. As a result, CRP’s Green Homes Program helps lower its residents’ effective cost of housing and alleviate housing cost burdens for working class residents, which serves as a competitive advantage and makes CRP properties more attractive from a cost, quality of life, and business philosophy standpoint.

UTILITY SAVINGS. ENERGY CONSERVATION

In addition, CRP conducts periodic audits on utility meters and on utility classifications to determine if usage is appropriately assessed and, in deregulated markets, vigorously negotiates with vendors to lower rates for electric, gas, and water.
CRP improves energy conservation and saves on utility costs in the following ways:
Water: low water consuming landscaping with drought-tolerant plants/trees, low-flow 1.28gpf toilets (63% savings vs 3.5gpf), fluidmaster toilet stop valves (8.5% savings), low-flow 1.5gpm showerheads (27% savings), low-flow 0.5 gpm aerators (50% savings), front-load washing machines (saves 33% more water), water harvesting, etc.

Air Quality: updated heating, ventilation, and air conditioning equipment, replace air filters quarterly, seal air duct system, carbon monoxide detectors, etc.

Electric: CFL or LED lighting on exteriors/common areas and interiors of units, high efficiency HVAC units, Energy Star kitchen appliances, digital thermostats, water heater timers, solar screens, etc.

Gas: High efficiency tankless water heaters, insulate water piping, descale piping for more fluid recovery, water saving devices mentioned above will also reduce gas due to less water being heated, etc.

photo_green2In addition, CRP conducts periodic audits on utility meters and on utility classifications to determine if usage is appropriately assessed and, in deregulated markets, vigorously negotiates with vendors to lower rates for electric, gas, and water.
CRP improves energy conservation and saves on utility costs in the following ways:

Water: low water consuming landscaping with drought-tolerant plants/trees, low-flow 1.28gpf toilets (63% savings vs 3.5gpf), fluidmaster toilet stop valves (8.5% savings), low-flow 1.5gpm showerheads (27% savings), low-flow 0.5 gpm aerators (50% savings), front-load washing machines (saves 33% more water), water harvesting, etc.

Air Quality: updated heating, ventilation, and air conditioning equipment, replace air filters quarterly, seal air duct system, carbon monoxide detectors, etc.

Electric: CFL or LED lighting on exteriors/common areas and interiors of units, high efficiency HVAC units, Energy Star kitchen appliances, digital thermostats, water heater timers, solar screens, etc.

Gas: High efficiency tankless water heaters, insulate water piping, descale piping for more fluid recovery, water saving devices mentioned above will also reduce gas due to less water being heated, etc.

SOCIAL IMPACT INVESTING

People, Planet, Profit

photo_investment2

Social impact is a triple bottom line investment philosophy revolving around the synergistic combination of people, planet, and profit. Social impact is a values-driven approach central to CRP’s investment strategy that has guided its path to aligning its core values with its business activities in a profound and accretive way. The firm takes a holistic approach to its investments through symbiotic stakeholder integration of residents, staff, vendors, the greater community, environment, and investors in order to truly maximize economic and social returns.

Social Services/Resident Programs

CRP views multifamily communities as more than just providing shelter to residents but conduits to enrich the lives of the residents that call its communities home. Integral to the investment strategy is the fostering of social services and resident programs to enhance the living experience and build community. Programs such as ESL/GED education, health education (i.e. diabetes, infant health),workforce training and employment assistance, financial literacy, immigration assistance, etc. help promote a more vibrant and empowered community of residents.

In addition, these social services have been found to increase tenant satisfaction, increase tenant retention, reduce turnover costs, and add value to the overall living experience. Buena Vida Connect is CRP’s proprietary program to create opportunity for its working class tenants to Discover a Lifestyle.These programs have demonstrated the following operational improvements:

IMPROVES LEASING: Closing ratios have been improved by 29%

REDUCES VACANCY: Vacancy reduction average of 3%

REDUCES DELINQUENT DEBT / COLLECTION FEES: Reduction average of 28%

REDUCES TURNOVER COSTS: Turnover reduction average of 18%

People, Planet, Profit
photo_investment2

Social impact is a triple bottom line investment philosophy revolving around the synergistic combination of people, planet, and profit. Social impact is a values-driven approach central to CRP’s investment strategy that has guided its path to aligning its core values with its business activities in a profound and accretive way. The firm takes a holistic approach to its investments through symbiotic stakeholder integration of residents, staff, vendors, the greater community, environment, and investors in order to truly maximize economic and social returns.

Social Services/Resident Programs
CRP views multifamily communities as more than just providing shelter to residents but conduits to enrich the lives of the residents that call its communities home. Integral to the investment strategy is the fostering of social services and resident programs to enhance the living experience and build community. Programs such as ESL/GED education, health education (i.e. diabetes, infant health), photo_investment3workforce training and employment assistance, financial literacy, immigration assistance, etc. help promote a more vibrant and empowered community of residents. In addition, these social services have been found to increase tenant satisfaction, increase tenant retention, reduce turnover costs, and add value to the overall living experience. Buena Vida Connect is CRP’s proprietary program to create opportunity for its working class tenants to Discover a Lifestyle.These programs have demonstrated the following operational improvements:

IMPROVES LEASING: Closing ratios have been improved by 29%

REDUCES VACANCY: Vacancy reduction average of 3%

REDUCES DELINQUENT DEBT / COLLECTION FEES: Reduction average of 28%

REDUCES TURNOVER COSTS: Turnover reduction average of 18%