AW Services Group completed a water conservation retrofit for Westdale Asset Management on a 300 unit complex in Atlanta, GA. Monthly savings to date have averaged 49%. The actual monthly average savings is coming in at just over $20,000. At this rate of savings, the retrofit is scheduled to pay for itself in just under seven months and an average annual savings of $240 K translates into $2.4 MM of increased value at a 10% cap rate.
"In 2008, we purchased a property that was a water hog using over 2 million gallons a month. With the city of Atlanta having one of the most expensive water rates in the country and with more increases to come, we had to do something. AW Services Group came in, identified the problem, and offered a cost effective solution to reduce our monthly water bill. Since the installation, we have saved over 4.3 million gallons of water and approximately $72k in the first three months. At this rate, our payback will be less than 12 months! Because of the success of this one property, AW Services Group in now looking at all of our properties in Atlanta."
Josh Tucker
Financial Analyst
Westdale Asset Management
Geller Associates has had a number of multi-family properties retrofitted for water conservation by AW Services Group including a 161 unit complex in Charlotte, NC. The actual monthly average savings is coming in at just over $4,500 resulting in an average monthly savings on water of 36%. The payback period for this project was 13 months and the average annual savings translates into $540K of increased value at a 10% cap rate.
"Working with AW Services Group has been an extreme pleasure. From start to finish of the project, it was seamless and smooth. I would recommend anyone to use AW Services Group to improve their property and reduce their utility costs."
Adam Geller
Principal
Geller Associates
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