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Case Study

Kravitz Properties

Kravitz Properties, Inc. is a residential and commercial property management and development company, managing a variety of properties in the Philadelphia region since the 1970s.

Approach

Kravitz Properties wanted to utilize the competitive marketplace for electric and natural gas supply and take advantage of energy efficiency technologies to help their properties by reducing their overall energy usage and taking control of their energy spend. Kravitz Properties’ goal in partnering with Howard Levine at EnerConnex was rather simple. They wanted to save on overall energy costs for both Wyncote House, a luxury 302-unit high rise, including commercial space; and Cambridge Hall Apartments, which consists of a 233-unit garden style nine-building complex.

Outcome

Howard Levine’s energy market knowledge, expertise and unbiased guidance helped Kravitz Properties substantially reduce energy costs for both of their apartment buildings.

  • WYNCOTE HOUSE: We made timely recommendations that stabilized their budget and reduced their electric contract rate, saving up to $142,000 annually on electricity expense. For natural gas, our recommendations helped to reduce and stabilize their contract rate, saving up to $95,000 annually on natural gas supply costs.

  • CAMBRIDGE HALL APARTMENTS: We made timely recommendations that stabilized their budget and reduced their electric contract rate, saving up to $15,000 annually on electricity expense. For natural gas, our recommendations reduced their contract rate substantially, saving up to $31,000 annually on natural gas supply costs.

“EnerConnex took the time to understand our business and make specific recommendations from an unbiased perspective. Howard’s ongoing communication, process, deep supplier connections and attention to energy markets really made all the difference. This approach helped us better understand the opportunities for improving our natural gas and electricity procurement, helping to provide budget certainty in all markets. We are truly grateful for our relationship with EnerConnex and having them assist our company in making educated decisions for our energy needs and providing us with substantial energy savings.”

- Valerie Chuse, Controller, Kravitz Properties Inc.