Upgrading major systems and key building components produces long-term cost savings and improves comfort. Using mortgage proceeds to finance these investments allows owners to obtain low-cost capital and spread payments over a much longer time than would be possible with non-mortgage loans.
When a building owner is considering a moderate renovation or a building is a high energy or water user, there is a great opportunity to boost efficiency through a targeted retrofit of existing systems or replacement of key building components. Incorporating efficiency measures into a planned renovation saves time, reduces overall cost, and minimizes disruptions to tenants. An energy engineer should be consulted to provide an energy audit or green physical needs assessment (GPNA) to help identify, prioritize, and analyze the cost-effectiveness of potential upgrades.
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