Optimized Performance for Revitalized Value
Distressed Property Recovery Program
A Process for Selection and Performance Improvement
Opportunities arise out of recent economic turmoil that have left
many properties at excellent locations with deteriorated financial
value and deferred maintenance. In many instances the need is for
much more than a fresh coat of paint and a new leasing sign. Turning
these currently distressed properties into high performance
buildings has the potential to provide game-changing financial
returns. PHASE I: ACQUISITION SUPPORT Chelsea
Group recommends supplementing traditional Property Condition
Assessment reporting with a new chapter on Property Performance
Improvement (PPI). This chapter can cover topics relevant to the
property and its use, including energy efficiency, indoor
environmental quality, and a wide range of environmental
sustainability factors. Chelsea Group
has developed an extensive set of analytical and reporting models
that allow the rapid translation of physical plant performance data
into decision-support information for asset managers and investors.
In the context of developing a portfolio of properties from the
inventory of distressed properties, these models can be used to
weigh PPI results against other targeted buildings and against
similar existing buildings. PHASE II: PLANNING AND
PRELIMINARY DESIGN
 Based on the PCA and PPI, Chelsea
Group assists the new owners with PPI related elements in the
recovery of the asset from its distressed condition. While the PCA
provides the overall guidance to project architects, structural and
MEP engineers, interior designers, landscapers and others, Chelsea
Group plays a role in the project oversight team of guiding proper
application of the PPI findings. Depending on the project, Chelsea
action items may include:
- Benchmarking key sustainability factors in ENERGY STAR® and Chelseas Online Sustainability Management Program (OSM)
- ASHRAE Level I energy audit with detailed low and no cost
measures as well as capital items
- Remediation plan and specification for mold and related
indoor environmental contamination
- ASHRAE IAQ outdoor air ventilation analysis
- Retrocommissioning or commissioning plan
- LEED charette
- Sustainability Management Report, including a 10-year CapEx
plan and Sustainability Roadmap with estimates of costs,
savings, and IRR
The result is a collaborative process that delivers a renovation
plan and budget that incorporates the most effective PPI program
practical for the site. PHASE III: PERFORMANCE
DOCUMENTATION Chelsea Group sets up your property with
the US EPA ENERGY STAR program, registers it for the USGBC LEED
Certification process, and acts as the Certified LEED Accredited
Professional throughout the application, then focuses the team on
demonstrating the buildings performance.
- Obtain the ENERGY STAR Label once the building qualifies
- Guide the team in achieving the best LEED Certification
status possible for the property
PHASE IV: PERFORMANCE ENHANCEMENTS
Design Phase
Chelsea Group participates in the design review process for your
property. You can expect expertise from our team in all areas of
project design, with a special focus on consistency of the design
with criteria for energy efficiency, indoor air quality concerns,
and commissioning. Energy Efficiency, Sustainability, LEED
- System configuration and performance targets
- Technology selection and innovative opportunities
- Documentation for LEED points
Indoor Air Quality, Ventilation, and Moisture Management
(IAQ)
- HVAC systems and controls
- Space conditioning systems
- Exhaust systems and system balance
- BAS system
- Moisture management of the building envelope
- Interior construction materials selection to minimize
potential moisture damage and emissions
- Interior design elements to minimize potential mold,
moisture, and emissions
Commissioning (Cx) Chelsea Groups
commissioning or
retrocommissioning plan provides both fundamental and enhanced Cx,
as established in LEED requirements. The Chelsea team works with
your team to apply those plans to meet the needs of your property.
Construction Phase
 Once construction or
renovation is underway, Chelsea Group participates in construction
meetings and conducts routine walk-through observations. You can
expect regular reports on factors such as:
- Consistency of construction with designs for energy
efficiency, IAQ, and Cx
- Tracking with the LEED checklist and Sustainability
Roadmap
- Data and documentation assembly and operations manuals and
training programs for Cx
Project Close-Out Phase As your PPI Project
reaches its end phase, the Chelsea team provides final review and
reporting. Some common services in this phase include:
- Verification that all energy IAQ-related systems are meeting
nominal criteria
- Organization and submission of the application for LEED
Certification, with tracking through to the award
- Preparation of a final Cx report, and verification that
operations manuals are in place and operations personnel have
received training according to the Cx plan
- Establishment of a written plan for an on-going program for
the renovated property
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