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San Diego San Diego

There are many questions about the cost benefits of installing energy efficient improvements, like LED lighting, drought-tolerant landscaping, water reuse systems and more efficient HVAC systems. These upgrades can be costly, and owners have questions about whether the price tag of these improvements is offset by the utility and energy cost savings.

A new development, however, shows a big and immediate savings following installation. MG Properties Group’s Stonewood Gardens development in San Diego was certified energy efficient after installing $110,750 on property improvements. Following the improvements, the developer received an incentive check from San Diego Gas & Electric, offsetting the install costs by 93%. “We were not surprised to see the savings nearly cover the costs, in fact, we work hard to model our energy and water efficiency improvement projects to make it as low-risk of an investment as possible,” Bryce Colwell, project manager at Bright Power, a company that worked with MG Properties to reduce its footprint, tells GlobeSt.com.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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