Multi-Housing News - April 2009 - (Page 7)

Several newly delivered and all in-development Gables communities include features built to either U.S. Green Building Council LEED (Leadership in Energy and Environmental Design) certification standards, or regional and local sustainable development organization standards. But green building is not new to Gables, as we developed the first green apartment community in Austin, Texas in 1997 as part of the city’s early green building program. We are just as focused on going green in the ongoing operations and maintenance of our existing portfolio. Operations policies and procedures have been updated onsite to improve such areas as energy efficiency and the reduction of office waste. Our maintenance teams have worked with vendors to create green buying guidelines and source green products such as recycled-fiber carpets, lowemission paints and sealants, chlorine-alternative pool products, and environmentally friendly cleaners and chemicals. A few of the onsite green initiatives we have begun include: • Sourcing low-VOC paint and setting paint buying guidelines in all regions • Upgrading to recyclable or recycled-fiber carpets for replacement and new installation • Developing green product guidelines and catalogues for cleaning and maintenance supplies • Using high-efficiency and/or compact fluorescent lighting in common areas • Installing lighting timers and sensors in offices, models and common areas • Fitting all toilets with water-saving devices. When do you think we’ll emerge from the recession? I think 2009 will be a challenging year throughout, and that the U.S. economy will begin to turn around in 2010. I believe it will be difficult to see much evidence of that turnaround in the industry’s operating results until the second half of 2010 and early part of 2011. What is Gables’ corporate strategy for thriving during the recession? The slowdown in the U.S. economy and the numerous job losses will certainly negatively impact the multifamily housing industry in 2009. During challenging economic times, Gables believes the way to thrive begins with making certain the team is focused on the core business fundamentals. From a property operations point of view, this means focusing on the basics—a strong leasing effort, increasing renewals and tight expense controls. Any asset upgrades and capital projects are evaluated based on value-add opportunities. For new projects in development, this means focusing on cost control and maintaining production schedules. It also means very careful underwriting for any potential new development undertakings. For our central services groups, we’re looking for ways to improve efficiency, while continuing to deliver great products and services. From a day-today perspective, it is important that everyone knows what is expected of them so they have the opportunity to focus and achieve those objectives. It is also leadership’s responsibility to look for new opportunities. During tumultuous times, opportunities are created. Companies that spot those situations earliest are those that not only survive, but create new success for the future. For more information, visit www.multi-housingnews.com/productinfo www.multi-housingnews.com | April 2009 7 http://SureDeposit.com/ http://SureDeposit.com/thebuzz http://SureDeposit.com/perfect http://www.multi-housingnews.com/productinfo http://www.multi-housingnews.com

Table of Contents for the Digital Edition of Multi-Housing News - April 2009

Multi-Housing News - April 2009
Contents
From the Editor
Executive Insight: Sue Ansel
Finance: Fannie Mae & Freddie Mac
Quote of the Month
Market Forecast: Texas
Profile: Affordable Developers
Operations: Green Laundry Rooms
Technology: BIM
Kitchen & Bath: Tile Installation
Perspective: Doug Bibby, NMHC

Multi-Housing News - April 2009