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A Sustainable Life

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A Sustainable Life

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HPET thinks “green” when acquiring, renovating, and maintaining properties.

Making environmental improvements to our properties lowers operating costs, reduces our carbon footprint, and improves the quality of life for our residents and communities.

We are dedicated to the preservation of naturally occurring affordable housing (NOAH), while working to improve the sustainability of our operations and properties through a dedicated focus on environment, social, and governance (ESG) factors.

Environmental: We conduct energy audits of every property at acquisition and are implementing tracking systems to better monitor energy and water usage; Social: We adopted an Equity, Diversity, and Inclusion policy to guide continued efforts at improving equity and inclusion in our workforce, board, and property services; Governance: We pride ourselves on strong board and committee oversight, and on transparency by making our audited financial results available to the public

Great progress has been made and there is more work to do.
Some timely highlights include:

$250,000

in electrical savings annually, reducing CO2 emissions by more than 700 tons.

68%

reduction in water usage at our Woodside Court Apartments.

3,000

quality housing units affordable on average to residents at or below 60% area median income (AMI) on average.

50%

of HPET’s workforce is female and 38% are minorities. One-third of HPET’s board is female, nearly double the REIT industry average.

Through active asset management of the portfolio, we assess environmental sustainability at the property level and focus capital expenditures on items that will improve energy efficiency and reduce costs for us and our residents. We have invested a total of nearly $40 million to renovate and improve our properties, prioritizing energy-efficient technology upgrades, and retrofits.

We are on track toward converting the estimated 60,000 incandescent light bulbs across all HPET properties to energy efficient LED light bulbs which will result in an estimated savings of more than 2 million KWh per year, and the reduction of more than 850 tons of CO2 emissions.

A pathway on the Birches property
Icon of a water drop

Water-saving technologies have been implemented in all HPET properties, significantly reducing water usage each month. Our Woodside Court property, for example, has reduced daily water usage from 41,624 gallons per day to 13,117 gallons per day, a 68% reduction with no change in occupancy rates.

Our focus on strong Environmental, Social, and Governance performance is central to who we are, what we deliver to our investors, and how we serve our communities. It is a "must-have," not a "nice to have."

Energy Efficiency

Using Energy Star appliances and LED lighting on replacements. Adding submetering, where the tenant pays the cost of their electricity usage, to more accurately track consumption and incentivize energy savings.

Water Smart

Retrofitting apartments with low-flow faucets and shower heads. Using water efficient irrigation as replaced. Replacing laundry room washers with low-flow equipment.

Recycling

Implementing recycling programs in each location. Recycling construction waste during renovation work. Using recycled content in new concrete and other areas, where appropriate. Fostering resident commitment to comply with recycling and other sustainable site initiatives.

Healthy Kids

Using low-VOC paints, sealants, and cleaning products in operations, along with carpets that meet CRI Green Label standards and kitchen cabinets that meet low formaldehyde emissions standards. Installing fire extinguishers (wood frame buildings) and CO detectors in every apartment. Assuring appropriate playgrounds on properties with children.

Reporting/Responsibility

Implementing voluntary energy tracking and reporting software, including Energy benchmarking report cards. Downloading to Energy Star Portfolio Manager. Calculating site and portfolio carbon footprint. Providing residents with information on sustainable practices in the home. Issuing an annual sustainability report.

Smoke-Free Initiative

Implementing a smoke-free initiative at properties, as appropriate.