Southwest Properties Partnership Looking to a Greener Future
Southwest Properties Partnership signed an agreement with EcoPilot Canada for the install of Ecopilot®, Artificial Intelligence for real-time energy savings. The software will be installed in Newfoundland’s Atlantic Place, located in the heart of downtown St. John’s. The property is managed by Martek Morgan Finch and marks the fourth Ecopilot® install in a Southwest Properties building.
“Despite the economic challenges COVID-19 has introduced, we’re keen to move ahead with projects we believe will make a positive impact on the environment, our tenants and the value of our asset. Reducing energy consumption and working toward a sustainable environment is an important mission for us, now, more than ever,” says Charlie Oliver, Martek CEO.
Atlantic Place is the largest multi-tenant commercial property in downtown St. John’s, with more than 355,000 square feet of heated space. With Ecopilot®’s AI solution, Atlantic Place can conservatively expect to reduce energy consumption by 990,000KWh; which equates to annual dollar savings of over $75,000.00. The return on investment is projected to be under three years. Equally important is the ability for Ecopilot® to improve tenant comfort as well as be a useful tool to identify other inefficiencies in the building.
Southwest Properties currently has three other Halifax buildings under Ecopilot® smart control, acknowledging the role AI can play in reducing energy consumption. Southwest’s Kingsbury apartments, having just completed their first year, has reduced gas usage by 23.5 per cent, far exceeding the projected results. In Canada, buildings contribute about 30 per cent of the country’s greenhouse gas emissions.
“It’s a challenging time for the building sector right now, so we’re thrilled to see projects like Atlantic Place moving ahead,” says Dean Shea, President of EcoPilot Canada | USA. “This is a win-win for all of us.”