Zoned into ESG initiatives, Quinn Residences’ commitment to sustainability drives its everyday decisions.
With a goal of leading the way toward sustainable modern living and net-zero carbon within its build to rent communities, CEO Richard Ross says, “We believe quality in living goes beyond building homes–it’s also about building sustainable communities where our residents can thrive in all aspects of life.”
At a measurable rate, the BTR developer has successfully averted 6,922 kilowatt-hours of carbon emissions per home in its Durham community in Spartanburg, South Carolina. That’s the equivalent of 81 planted trees growing for more than 10 years. Ross shares more about Quinn Residences’ eco-oriented goals below.
What is your approach to sustainability and ESG initiatives?
At Quinn Residences, creating thriving, sustainable communities that are built to last is part of our business core. Our modern development approach was designed with sustainability at the forefront. Utilizing smart, energy-efficient designs, and durable materials helps reduce our environmental footprint, while providing an enhanced home experience for our residents.
We consider our sustainability efforts a long-term savings initiative for our communities. For example, installing solar panels and energy-efficient technologies (LED lighting, high-performance insulation, smart thermostats, etc.) creates renewable energy and optimizes overall energy use, reducing electricity bills to potentially save over $50,000 over a 20 to 30 year period.
Our long-term company goal is to aim for a Home Energy Rating System (HERS) score of zero, meaning our homes produce as much energy as they consume through renewable resources like solar power. With our solar initiatives, we’ve successfully gotten those communities to zero, and in some cases, negative. As a company, we use a third-party organization to monitor our annual carbon footprint by participating in and contributing to a carbon offset fund, which reduces the amount of CO2 from the atmosphere and compensates for the amount of CO2 we use annually.
In recent years, how has Quinn Residences adapted to eco-friendly measures?
We are always looking for ways to make our communities more eco-friendly and exemplify modern sustainable living. We recognize the importance of contributing to a greener future and setting a new standard in real estate building. In addition to traditional sustainable operations such as solar-power installations and smart home technology integration, Quinn Residences has also introduced a beehive project. In partnership with Alevole, we have created an apiary, or bee yard, at one of our communities to support biodiversity and local bee populations, and to educate our residents on the importance of sustainability.
What are some elements that help boost energy efficiency within Quinn Residences homes and communities?
When designing our residential homes and communities, energy efficiency and optimization are built into our design. To save energy and reduce long-term electricity costs, we integrate components such as high-quality insulation, water-saving irrigation systems, LED lighting, and smart-home technology into our communities. We also prioritize the use of ENERGY STAR-rated appliances to continue the reduction of energy once residents are moved into their homes. These initiatives help conserve valuable energy while providing our residents with savings and benefits such as lower electricity bills.
Across the 33 BTR communities, what impact has Quinn Residences had on sustainability?
We strive to bring comfort, efficiency, innovation, and environmental responsibility to the BTR industry through each of our dedicated rental communities. Our Environmental, Social and Governance (ESG) policy highlights our active approach to delivering various initiatives across the residential life cycle. In addition to our collaboration with Alevole mentioned earlier, in our partnership with Palmetto, we are working toward a full solar panel installation in our Spartanburg, South Carolina community. This initiative is one of many as we work toward our goal to expand solar projects to all of our existing and future communities.
Can you share more about solar panel initiative?
We currently have solar panels fully active in one community, with four additional community installations in progress. Ultimately, our goal is to continue to work with our solar providers to expand solar panel installations across all of our communities over time. Solar power can help reduce or eliminate electricity bills, saving an estimated $20,000 to $50,000 alone over 20 to 30 years (including net metering and incentives). Utilizing energy-efficient designs, such as solar, can significantly impact the long-term savings for our residents.
