“One Boston Place” demonstrates how greening of existing buildings reduces operating expenses

The existing building market is 80 times larger than the new construction market. Unfortunately the majority of the buildings that dot our land and cityscapes are operating with little efficiency in terms of energy and water, and are negatively impacting carbon dioxide emissions. Rising energy costs are causing building owners and managers to tighten their belts as their buildings are costing millions in operational costs — many times costs that can be reduced through implementing green building strategies and techniques. Making improvements to existing buildings has the potential to contribute billions to the economy, can have a major impact on reducing greenhouse gas emissions and can help building owners and operators significantly cut costs and manage operating expenses. In fact, respondents to Turner’s “Green Building Barometer” survey said their green buildings have resulted in lower energy costs, with 68% reporting lower overall operating costs.

One example of an existing building project that was able to cut its energy use by 12 percent is One Boston Place, located in the heart of Boston’s Financial District. “Using the LEED program is part of our continuing commitment to improve the energy efficiency of our 43 million square foot commercial real estate portfolio by ten percent by 2010,” elaborated Tom Garbutt, Managing Director and Head of TIAA-CREF Global Real Estate.

The multitenant project was certified Gold in November 2008 and is a 41-story Class A office tower which offers 804,444 square feet of office and retail space and is occupied by 30 office tenants, including anchor tenants Bank of New York Mellon, Boston Capital Corporation, Robinson & Cole, and Wells Fargo. Nestled between four subway lines, two commuter rail hubs and numerous bus stops, One Boston Place’s location makes it easy for tenants to commute to work daily using public transportation.

Originally developed by Cabot, Cabot and Forbes, the building was first occupied in March 1970 and has since changed ownership three times. The project was acquired by TIAA-CREF and SITQ in 2002 and managed by CB Richard Ellis. TIAA-CREF is a national financial services organization with over $363 billion in combined assets under management and is the leading provider of retirement services in the academic, research, medical and cultural fields. SITQ Immoblier is a real estate investment, management and development firm with a portfolio specializing primarily in office buildings and business parks in the United States, France, the United Kingdom and Germany.

In 2004, One Boston Place completed two major capital improvements, but the work it underwent to receive LEED certification breathed new life into the existing building. Erected in the 1970’s, One Boston Place has made it a priority to make significant upgrades to reduce its impact on the environment while maintaining a high level of service for its tenants. During initial facility alterations and additions, the project recycled, reused or donated 100 percent of durable goods, while diverting at least 70 percent of waste generated from the alterations.

In an effort to reduce water consumption, One Boston Place installed a high-efficiency drip irrigation system for the property’s outdoor landscaping; a condenser water loop to provide recycled water to computer room air conditioners, and upgraded indoor plumbing fixtures. The water saving strategies reduced water consumption by approximately 50 percent or 12,000,000 gallons per year. In order to decrease energy use and improve occupant comfort, the building conducted an ASHRAE Energy Audit, a recommissioning of base building systems, and introduced Saturday HVAC (heating ventilation and air conditioning) “On Demand” service to avoid using electricity in unoccupied tenant spaces.

Given the nature of multi-tenant buildings, the management team at One Boston Place worked to make individual tenant operations that were otherwise outside the control of building management as sustainable as possible. Management also provided a green office checklist to all building tenants which provided suggestions for products that reduce the amount of materials, water and/or energy used.

By investing in green technology in both new and existing buildings, building owners and managers are able to reap long-term operational and maintenance savings, all the while bettering the environment. One Boston Place is a prime example of how upgrades to an existing building space can help building owners and managers cut operating costs while helping reduce its impact on the environment.