FPA Multifamily, a vertically integrated real estate investment firm, operates a portfolio of approximately 25,000 apartment buildings valued at $4.4 billion. FPA oversees all aspects of the value chain from acquisition to construction to property management and they were named a Top 50 Apartment Owner in the U.S. by the National Multifamily Housing Council. With a diversified portfolio of properties across several key markets, FPA is consistently managing multiple properties with very different landscapes and watering needs. In order to maintain site aesthetics for rental and resale value of their properties, FPA needed an easy way to keep landscapes in pristine condition while simultaneously decreasing operating expenses. Additionally, a majority of sites were in need of advanced monitoring and reporting to show effective savings and a projected return on investment.
After evaluating water saving strategies, FPA chose the WeatherTRAK smart irrigation solution for 44 properties of its properties. FPA installed 107 smart irrigation controllers which utilize the HydroPoint proprietary, turnkey monitoring service. “WeatherTRAK improved property values by adding smart irrigation and monitoring,” said David Seiler, EVP of the Multi-family Division at FPA. “The comprehensive Budget Manager provides accurate site performance and monitoring results.”
One site saved a significant amount of water with much lower water bills resulting in savings of $22,000 one year after installation, and thus making the property more appealing to investors. The system’s central control provides remote programming access to the controller and alert capabilities to help save time. Users get real-time visibility of their smart irrigation system from any device connected to the Internet.
WeatherTRAK resulted in a combined savings of over 54 million gallons of water in 2015. “No other smart water management company provides full circle support from the irrigation controllers, implementation and training, to full service monitoring on all of our sites. We plan to implement WeatherTRAK at an additional 18 new acquisitions in 2016.”
If you haven’t already done so, invest in water conservation outdoors. It’s one of the simplest sustainability investments you can make. HydroPoint is a leader in water conservation technologies. Here are 10 reasons to partner with us on smart water management.