BGO and The Dermot Company have completed the installation of a $1.7 million solar energy system atop the parking garages at Cordoba, a 454-unit apartment community in Downtown Doral. The new system is expected to generate enough electricity to cover 50% of the energy needs for the property’s common areas, including its amenity spaces.
The initiative marks a step forward in the growing trend of multifamily developments incorporating solar energy across Florida. BGO and Dermot acquired Cordoba in 2021, focusing on reducing energy consumption to offset the demand for 24/7 cooling.
“We are reinforcing our commitment to reducing the environmental footprint of this property for the long term,” said Jennifer Perkins, Principal and Head of Multifamily Asset Management East at BGO. “Through our partnership with Dermot, we are delivering for our clients and successfully incorporating clean energy technology into a multifamily residential setting.”
Orlando-based ESA, a solar development and engineering firm, designed and installed the solar panel system. It marks Dermot’s first renewable energy project and aligns with its goal to reduce energy and greenhouse gas emissions by 40% across all properties by 2030.
“This project represents how we invest in forward-thinking sustainability strategies,” said Drew Spitler, Principal and Partner at The Dermot Company. “The outlook for investing in advanced building systems that can reduce operating costs holds tremendous potential for multifamily investors.”
Investment Tax Credits from the Inflation Reduction Act of 2022 supported the installation and helped accelerate its completion. Over its 25-year lifespan, the system is expected to deliver significant cost savings while mitigating rising utility rates.
Located in the heart of Downtown Doral, Cordoba offers one-, two-, and three-bedroom apartments with modern interiors, private yards or balconies, and recently renovated amenities. Residents have access to a state-of-the-art fitness center, two resort-style pools, co-working spaces, and a large dog park, all within walking distance of dining, shopping, cultural attractions, and green spaces.
With the fully operational solar system, Cordoba joins a growing number of multifamily communities integrating clean energy solutions, setting a precedent for future developments in South Florida.
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