Beruflich Dokumente
Kultur Dokumente
Property Specifics:
18633 Prairie is a 1600 square foot, 3 bedroom, 1 bath home in Detroit, Mi. This property
required significant cosmetic improvements to both bring it up to code and gain a
Certification of Occupancy.
2. Receive the maximum rebates and incentives applicable for this property.
491 Second Street, Suite 104, Encinitas, Ca 92024 www.JimSimcoe.com Direct: 760-271-7128
Methodologies:
1. Performed an extensive Energy Audit on the property. This was done both to
understand the rehab issues within the property and maximize the applicable
rebates. In this area of Detroit, rebates were doubled if an energy audit was
performed.
2. Select and procure all of the green materials for the project. This included paint,
eco-friendly carpet, non-toxic floor sealants, etc. Roughly 30 different materials
were used on this property.
3. Advised the contractor on the various green methods and materials to be used.
Facilitated the training of the construction crew on the green retrofit process.
4. Built a branding campaign for the property for both prospective investors to
purchase the home and prospective renters.
5. Worked with the appraiser and gave all of the documentation and Energy Star
formula calculations to gain a maximum appraisal for the property.
6. Consulted with investor-owner to explain both the process of the green retrofit and
the long-term benefits of the project.
491 Second Street, Suite 104, Encinitas, Ca 92024 www.JimSimcoe.com Direct: 760-271-7128
Results of the project:
*Does not include any potential tax credits coming back to the investor.
491 Second Street, Suite 104, Encinitas, Ca 92024 www.JimSimcoe.com Direct: 760-271-7128
Conclusions:
1. The demand for green homes was higher than expected. While prospective renters
and investors cared little about the environmental impacts of this green home, they did
care about 3 main items:
c. The amount of money they would get back in the form of rebates and
incentives.
2. By using the Energy Star appraisal formula we were able to increase appreciation on
this home by 10%. In fact, on all subsequent projects in Detroit, we’ve been able to
increase the appraisal value by 10%.
3. The supply of green materials was greater than anticipated and the costs were lower
than anticipated.
4. The additional costs to green this property were projected to be a minimum of 15%
higher than a standard rehab. In fact, when considering the rebates received the green
retrofit actually cost less.
For more information on this or other projects, please contact Jim Simcoe at:
jim@jimsimcoe.com or 760-271-7128.
491 Second Street, Suite 104, Encinitas, Ca 92024 www.JimSimcoe.com Direct: 760-271-7128