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Case Study

Green initiatives saved TIAA-CREF over $300,000 in over three years (Boston)

99 High Street/TIAA-CREF
Boston, Massachusetts

Challenge

  • Rejuvenate a 32-story, 1970-constructed building to become an aesthetic and sustainable standout in Boston’s Financial District

Solution

  • A $30 million capital initiative to make the property more attractive, cost-efficient and environmentally-friendly
  • “Beauty makeover” included façade upgrades, storefront finishes, awnings, lighting, sidewalks, a “jewel box” mirrored glass canopy and entrance, and redesigned lobby featuring a rear-lit “feature wall”
  • High-end materials such as granite, brass and gold used extensively
  • Sustainable upgrades including:
    • 4,000 new high-efficiency windows, which reduce heat and cooling loads by 18 percent
    • Two new gas-fired boilers so the building can self-produce steam heat, saving 50 percent in heating costs
    • Quattro DC Elevator Drives, reducing energy use by 40 percent
    • Replacing air handling unit dampers, coils, piping, insulation and controls
    • A 3,000-ton, three-cell cooling tower that lowers water and electricity costs by 15 percent
    • Exterior illumination of the building’s first 20 stories with energy-efficient perimeter lighting
    • Reuse of waste condensate to heat the 150-car parking garage, along with a high-speed garage door

Results

  • The green initiatives saved over $300,000 during a three-year phase-in, and are expected to reduce energy and operational costs by over $800,000 annually moving forward
  • Competitive contracts negotiated by our team generated another $273,000 in utility rebates/concessions
  • The building attained LEED Gold certification
  • Named BOMA Mid-Atlantic Building of the Year and won Boston Business Journal’s Best Green Practices Awards
  • Tenant comfort and enthusiasm has increased, and both aesthetics and sustainability have become strong marketing tools for 99 High