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Page 44 — Multifamily Properties Quarterly — May 2018 www.crej.com READ THE NEXT EDITION: Wednesday, August 15 RESERVE YOUR SPACE BY: Wednesday, July 25 AD SIZES: Quarter Page $395 Half Page $595 Full Page $995 Full Color $200 Additional Frequency Discounts Available GET LISTED Jon Stern | 303-623-1148 | jstern@crej.com SUBMIT STORY LEADS Michelle Askeland | 303-623- 1148 | maskland@ crej.com designapodiumbuilding outof the ground to save the costof building subterranean,which is typi- designs. Photography©BradNicol rnationalBuildingCodeofferswood-frame construction theability todesignapodiumbuildingbasedon theoverallbuildingheight.Podiumbuildingswillno longerbe restricted low the podium deck. October 2015 New wood-frame codes allow for more flexibility ADVERTISING Lori Golightly | 303-623-1148 x1 02 | lgolightly@crej.c om I Michelle Askeland | 303-623-1148 | maskeland@crej.com MEDIA KIT & SAMPLES crej.com/MultifamilyProperties Multifamily Properties Quarterly is Colorado’s only print publication dedicated to the multifamily rental real estate market throughout the state. While the Colorado Real Estate journal continues to run multifamily news in each issue of the newspaper, Multifamily Properties Quarterly features inter- esting projects and people, trends and analysis, and covers development, investment, nance, design, construction and management. is publication is mailed with the Colorado Real Estate Journal which is mailed to more than 3,500 commercial real estate professionals twice monthly and read on- line by an additional 1,200 readers. Ì Market Reports Ì Development & Investment Updates Ì Design & Construction Trends Ì Capital Markets Ì Legal Updates Ì and more Affordable Housing Spotlight L ighting needs to serve a pur- pose, or it simply wastes elec- tricity,” said a recent home improvement magazine addressing the functionality and importance of a good lighting plan in designing home improvement proj- ects.The same notion should apply to the way we think about lighting design for our multifamily projects. Purposeful lighting ought to bring a decorative feel to common areas and interior units while exterior applications should bring more functional lighting to those areas to provide a sense of safety and security for residents as they trek back and forth to their residences.The chal- lenge is to provide solid lighting design that takes advantage of new energy- efficient technologies at prices that work within (and enhance, if possible) a project’s budget. On the technological side, innova- tions in light-emitting diode technol- ogy have changed the way we look at things in multifamily development. LED lighting offers a bright (pun intended) future for developers looking to save energy costs and take advan- tage of utility incentives through use of Xcel- and Energy Star-approved prod- ucts. The lighting industry’s best LED products are about 10 times more energy efficient than conventional incandescent light- ing and last more than 25 times lon- ger, according to a report from the U.S. Department of Ener- gy.The LED trend is becoming more attractive as prices are lowering with increased demand for products using the technology. From LED light bulbs to light fixtures that are equipped with integrated diodes, the selection is vast.The U.S. Depart- ment of Energy predicts that the use of LED lighting could save as much as $30 billion in electricity cost nationwide as we continue to use more LED products to light our communities. The most-popular LED product used in multifamily developments is the surface-mounted LED integrated “disc” light that’s on the verge of replacing traditional recessed lights.This low- profile fixture emits the same amount of light as a 75-watt flood light without the maintenance burden that comes with the traditional Par 30 lamp.These fixtures also offer a variety of color temperatures to suit different applica- tions that range from a bright halogen look to a warmer incandesant feel. Many of these fixtures have dimming options and come in a variety of diam- eters. And, maybe the best news of all, they continue to go down in price and, when you add in Xcel’s incentive on Energy Star approved products, they’re downright affordable. Xcel also offers additional incentives that come with Energy Star-approved exterior and interior LED lighting products.These fixtures often replace fluorescent fixtures used in office and common areas and the high-intensity discharge lighting sources that are used as security lighting for parking and walkway areas.These incentives can either be accessed directly by the developer/owner of the property or provided for by an approved Xcel light- ing distributor. Most LED products are sourced from overseas so, whether it’s interior or exterior lighting, it’s a good idea to make sure that you’re buying competi- tively. Our experience is that we can save developers from 30 to 50 percent off a specified “name brand” fixture schedule with equal alternates from overseas. To illustrate the benefits of effec- tive “value engineering,” we recently provided a value engineering quote for a job with a specified lighting pack- age that was exorbitantly over budget. After review, we discovered many hands in the pot. For instance, the agency representing many of the specified vendors on the job had a markup of their own (in addition to their commission) on most items. Add a contingency/markup fee (10 to 20 percent) from the installing electrician and the cost soared to 40 percent higher than the pack- age was worth. Buying directly from any distributor who’s willing to do the work with an “equal alternate” package, developer/owners can avoid these abusive markups. In this case, we were able to save the developer almost 50 percent on the lighting package. The items that we were able to cross over from the specified package included the LED decorative lighting products and ceiling fans for units, exterior site and security light- ing, and, the biggest saving categories of all, corridor and amenities lighting for common areas. Distributors can bypass domestic vendors and their representatives to pass savings on these items along to owners/developers. However, it is important that the items are carefully sourced and crossed over. It’s also a good idea to be sure that factory war- ranties and replacement parts still can be available over time. But, in the end, the extra work is worth the effort in savings to your bottom line. s Shining the light on affordable housing with LED “ David Nestor President, Urban Lights to both agencies. Our remaining appli- cants will continue to use the DOH application. • Eyeing the future of construction. Our society is advancing quickly, with technology rendering traditional construction methods obsolete and then becoming quickly outdated by newer technology. Although there have been advances in construction, such as the growing field of snap- ping steel grid construction systems, the industry has not yet seen the wide-scale change that others have seen. Factory-built panels and units can offer efficiency through quicker timeframes because site work can be completed while the structures are constructed inside and without hav- ing to pay Davis-Bacon wages. The state is working to support this indus- try while maintaining effective regula- tory oversight for public protection. DOH provides plan review/approval and installation inspections for man- ufactured homes. We are working to streamline these processes to ensure shorter timelines are actualized. This includes a new online payment and inspection system, so the process can be tracked by the state, the local juris- diction, manufacturers, sellers, install- ers and even owners of factory-built structures. s George Continued from Page 36