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
| Jul 1, 2014
$1 billion master planned development in California clears key hurdle
Plans for a new section of the proposed $1 billion La Entrada master-planned community in Coachella, Calif., moved ahead after the developer and city council agreed that the plan would include 500 affordable housing units.
| Jun 30, 2014
Research finds continued growth of design-build throughout United States
New research findings indicate that for the first time more than half of projects above $10 million are being completed through design-build project delivery.
| Jun 26, 2014
Ohio is first state to roll back renewable energy standards
Ohio became the nation’s first state to roll back renewable energy standards after the state House of Representatives passed Senate Bill 310 and Gov. John Kasich recently signed the measure.
| Jun 25, 2014
AIA Foundation launches Regional Resilient Design Studio
The Studio is the first to be launched as part of the AIA Foundation’s National Resilience Program, which plans to open a total of five Regional Resilience Design Studios nationwide in collaboration with Architecture for Humanity, and Public Architecture.
| Jun 18, 2014
Senate passes ‘compromise’ bill that green lights 26 new VA hospitals, clinics
The U.S. Senate reached a compromise deal combining elements of two competing Veterans Administration reform bills that would, among other things, gives the go-ahead for the construction of 26 new VA hospitals and clinics.
| Jun 11, 2014
Federal bill would promote shifting to energy-efficient roofs
A bipartisan proposal from U.S. Reps. Tom Reed, R-N.Y., and Bill Pascrell, D-N.J., would make roof replacement cost less and would help commercial building owners adopt energy-efficient systems.
| Jun 5, 2014
Over budget Homeland Security headquarters project may be canceled
A massive new headquarters for the Department of Homeland Security is more than $1.5 billion over budget, 11 years behind schedule, and may never be completed.
| Jun 4, 2014
Dikes, water pumps, and parks will help New York City area be more resilient
The Obama Administration has pledged $1 billion in federal funding to protect the New York City region from flooding like the area experienced from Superstorm Sandy.
| May 22, 2014
Senate kills bipartisan energy efficiency bill over Keystone pipeline amendment
The legislation focused on energy efficiency standards such as water heaters with smart meters and cheaper heating and cooling systems for office buildings.
| May 13, 2014
19 industry groups team to promote resilient planning and building materials
The industry associations, with more than 700,000 members generating almost $1 trillion in GDP, have issued a joint statement on resilience, pushing design and building solutions for disaster mitigation.
