One Bryant Park, also known as the Bank of America Tower, in Manhattan faces an estimated $2.4 million in annual fines when New York City’s York’s Local Law 97 goes into effect.
The potential hefty levy on this property is ironic given that it was certified LEED Platinum after it opened in 2010. An in-depth article at Bloomberg.com about this predicament illustrates the complexities owners face in addressing the law, which imposes carbon caps that are backed up by fines for non-compliance.
Passed in 2019, the law is a sweeping measure establishing emissions limits for almost 50,000 of the city’s largest buildings. The owners of an estimated 20% of these office buildings, hotels, and multifamily properties will likely face fines in 2024 when the law goes into effect. Many more buildings would face fines in 2030, when the caps will be lowered by 40%.
Part of the issue for the Bank of America Tower is a density of employees with heavy computer usage—at least on some floors—that use a lot of electricity. The owner says Local Law 97 is deeply flawed because it doesn’t distinguish between different densities and usages of properties and points out that the terms of the lease with the bank preclude him from limiting their power usage.
The Bank of America Tower had some impressive green features when it was built: a natural gas-fueled cogeneration plant for electricity that uses heat from the combustion process for additional power to operate HVAC systems, a cooling system that uses ice made overnight when power demand is lower, and a green roof. Today, when the ultimate goal is carbon neutrality, though, these features do not create the desired impact.
The details of the law are still being worked out, though, and that may bode well for the owner. There is support from some city officials to make allowances for buildings such as the Bank of America Tower that time their energy use.
Related Stories
High-rise Construction | Jan 18, 2019
‘Paramount’ will become Nashville’s tallest tower
Goettsch Partners is the project’s architect.
High-rise Construction | Jan 14, 2019
AS+GG-designed tower will be the tallest in China
The tower is at the center of the Shimao Longgang Master Plan.
High-rise Construction | Jan 10, 2019
Indoor-outdoor amenities open leasing value at a San Francisco skyscraper
The amenities that set this 605-foot-tall building apart are its 50,000 sf of outdoor and open spaces that include 14 skydecks and large terraces on its 12th and 28th floors.
High-rise Construction | Dec 13, 2018
Record number of 'supertall' towers were completed in 2018
Citic Tower in Beijing and Vincom Landmark 81 in Ho Chi Minh City are among 18 "supertall" skyscrapers completed this year—a record number, according to the Council on Tall Buildings and Urban Habitat.
High-rise Construction | Aug 27, 2018
The world’s tallest buildings with dampers
The CTBUH created the list as part of a recent study.
High-rise Construction | Aug 8, 2018
Bjarke Ingels Group’s new Shenzhen tower includes a folded building envelope
The new skyscraper is the home of Shenzhen Energy Company.
Multifamily Housing | Aug 7, 2018
Even after redevelopment, the iconic 'Chicago Tribune' sign will remain at 435 N. Michigan Ave.
The newspaper and the building's new owners reached a settlement.
Lighting | Aug 1, 2018
Willis Tower upgrades antenna lighting
The new lights will save Willis Tower more than 70% in antenna-lighting energy costs.
High-rise Construction | Jul 31, 2018
A 350-foot waterfall splashes down from a skyscraper in China
The tower is located in Guiyang’s central business district.
High-rise Construction | Jul 10, 2018
SOM-designed 100 Leadenhall Street will be one of the tallest buildings in the U.K.
The tower will rise in the City of London’s eastern cluster.
