Rehabilitating properties so low-income households have modern, comfortable and attractive places to call home is not often the focus of housing developers. However, that’s not the case for Meyer Orbach and his company, Orbach Affordable Housing Solutions, who are committed to doing just that.
One of their latest projects underway in this regard is the $29.8 million transformation of Playa Del Alameda, a 40-unit affordable housing complex in Alameda, California. These upgrades mark the first significant rehab project at the property in more than 15 years.
Among other features of the project, the team is focusing heavily on providing energy-efficient upgrades throughout the complex so that residents of Playa Del Alameda can save money each month on their utility bills.
Energy-Efficient Upgrades at Playa Del Alameda
Energy-efficient installations are a major focus of Meyer Orbach and his team at Playa Del Alameda, both inside the 40 individual apartment units and throughout the property’s common areas.
Every unit will be receiving a new Energy Star refrigerator, new vinyl window coverings, programmable thermostats, new toilets, and new gas ranges. LED lighting will be installed inside the units and throughout the property, along with new water heaters and HVAC systems.
While the company could have saved a significant amount of money by installing less expensive features and appliances, it was important for them to provide sustainable, energy-efficient upgrades for all of the residents.
Meyer Orbach believes that sustainability is not just a trend, but a critical responsibility that all developers should embrace. By investing in energy-efficient features and eco-friendly materials, Mr. Orbach aims to ensure that the housing projects he oversees are not only affordable but also sustainable, thereby contributing to the well-being of the environment, while also creating long-term economic benefits for the residents of the communities he serves.
The Lower Cost of Energy-Efficient Upgrades
Residents of Playa Del Alameda will be the direct beneficiaries of these energy-efficient features. Each month, they will likely incur lower utility costs as a result of the new features and appliances that will be installed in their units.
The Energy Resource Center, a non-profit organization, says energy-efficient appliances can reduce monthly utility bills by up to 30%. Just having an energy-efficient refrigerator can save $300 per year in energy costs. The U.S. Department of Energy also reports that LED lighting can save a household an average of $225 annually in energy costs.
Each of these savings individually might not amount to much, but they can add up quickly.
Developers typically don’t think this way, though, because they don’t benefit from the monthly energy savings—the residents do.
About Orbach Affordable Housing Solutions
Orbach Affordable Housing Solutions, led by Mr. Orbach, owns and manages over 8,000 multifamily units nationwide. They focus on preserving and enhancing affordable housing through significant investments and renovations, providing upgraded, energy-efficient living spaces. Recent projects in Berkeley and Alameda, California, reflect their commitment to supporting low-income tenants by offering quality, affordable housing and improving residents’ quality of life.
About Meyer Orbach
Meyer Orbach is the chairman of Orbach Affordable Housing Solutions and The Orbach Group, a comprehensive real estate organization specializing in Class-A properties and affordable housing. Under his leadership, the company has acquired and managed over 130 buildings in New York City and more than 50 affordable properties nationwide. He is also the co-founder of GO Partners, which owns iconic Manhattan towers like The Copper Buildings and One East River Place.
