{"version":"1.0.0","segments":[{"speaker":"Ryan Cassidy","startTime":3.903,"endTime":7.236,"body":"And what you end up"},{"speaker":"Ryan Cassidy","startTime":3.903,"endTime":7.236,"body":"getting is affordable housing units that"},{"speaker":"Ryan Cassidy","startTime":7.236,"endTime":12.356,"body":"are actually, healthier, more energy"},{"speaker":"Ryan Cassidy","startTime":7.236,"endTime":12.356,"body":"efficient has more up to date technology"},{"speaker":"Ryan Cassidy","startTime":12.356,"endTime":15.266,"body":"in terms of heating and cooling, then"},{"speaker":"Ryan Cassidy","startTime":12.356,"endTime":15.266,"body":"you're getting on the market side."},{"speaker":"Ryan Cassidy","startTime":15.266,"endTime":17.606,"body":"And so, that's an exciting place to be."},{"speaker":"Ryan Cassidy","startTime":17.696,"endTime":21.18,"body":"I think both for affordable housing"},{"speaker":"Ryan Cassidy","startTime":17.696,"endTime":21.18,"body":"and for, the environmental piece"},{"speaker":"Tom Raftery","startTime":22.285,"endTime":24.205,"body":"Good morning,"},{"speaker":"Tom Raftery","startTime":22.285,"endTime":24.205,"body":"good afternoon, or good evening"},{"speaker":"Tom Raftery","startTime":24.205,"endTime":25.675,"body":"wherever you are in the world."},{"speaker":"Tom Raftery","startTime":25.945,"endTime":30.055,"body":"This is the Climate 21 podcast,"},{"speaker":"Tom Raftery","startTime":25.945,"endTime":30.055,"body":"the number one podcast, showcasing"},{"speaker":"Tom Raftery","startTime":30.055,"endTime":34.195,"body":"best practices in climate emissions"},{"speaker":"Tom Raftery","startTime":30.055,"endTime":34.195,"body":"reductions, and I'm your host global"},{"speaker":"Tom Raftery","startTime":34.195,"endTime":36.625,"body":"vice president for SAP, Tom Raftery."},{"speaker":"Tom Raftery","startTime":37.795,"endTime":41.275,"body":"Climate 21 is the name of an"},{"speaker":"Tom Raftery","startTime":37.795,"endTime":41.275,"body":"initiative by SAP to allow our"},{"speaker":"Tom Raftery","startTime":41.275,"endTime":44.575,"body":"customers calculate, report, and"},{"speaker":"Tom Raftery","startTime":41.275,"endTime":44.575,"body":"reduce their greenhouse gas emissions."},{"speaker":"Tom Raftery","startTime":45.715,"endTime":49.735,"body":"In this Climate 21 podcast, I"},{"speaker":"Tom Raftery","startTime":45.715,"endTime":49.735,"body":"will showcase best practices and"},{"speaker":"Tom Raftery","startTime":49.735,"endTime":54.205,"body":"thought leadership by SAP, by our"},{"speaker":"Tom Raftery","startTime":49.735,"endTime":54.205,"body":"customers, by our partners and, by"},{"speaker":"Tom Raftery","startTime":54.205,"endTime":57.835,"body":"our competitors, if they're game,"},{"speaker":"Tom Raftery","startTime":54.205,"endTime":57.835,"body":"in climate emissions reductions."},{"speaker":"Tom Raftery","startTime":58.855,"endTime":63.025,"body":"Don't forget to subscribe to this"},{"speaker":"Tom Raftery","startTime":58.855,"endTime":63.025,"body":"podcast in your podcast app of choice,"},{"speaker":"Tom Raftery","startTime":63.145,"endTime":65.485,"body":"to be sure you don't miss any episodes."},{"speaker":"Tom Raftery","startTime":65.956,"endTime":66.466,"body":"Hi, everyone."},{"speaker":"Tom Raftery","startTime":66.466,"endTime":68.446,"body":"Welcome to the climate 21 podcast."},{"speaker":"Tom Raftery","startTime":68.506,"endTime":72.556,"body":"My name is Tom Raftery with SAP"},{"speaker":"Tom Raftery","startTime":68.506,"endTime":72.556,"body":"under with me on the show today, I"},{"speaker":"Tom Raftery","startTime":72.556,"endTime":74.986,"body":"have my special guest Ryan, Ryan."},{"speaker":"Tom Raftery","startTime":74.986,"endTime":76.186,"body":"Welcome to the podcast."},{"speaker":"Tom Raftery","startTime":76.186,"endTime":77.926,"body":"Would you like to introduce yourself?"},{"speaker":"Ryan Cassidy","startTime":79.801,"endTime":81.061,"body":"Yeah,"},{"speaker":"Ryan Cassidy","startTime":79.801,"endTime":81.061,"body":"thanks for having me, Tom."},{"speaker":"Ryan Cassidy","startTime":81.121,"endTime":82.441,"body":"My name is Ryan Cassidy."},{"speaker":"Ryan Cassidy","startTime":82.441,"endTime":86.281,"body":"I'm the director of construction"},{"speaker":"Ryan Cassidy","startTime":82.441,"endTime":86.281,"body":"and sustainability for"},{"speaker":"Ryan Cassidy","startTime":86.281,"endTime":87.901,"body":"Riseboro community partnership."},{"speaker":"Ryan Cassidy","startTime":88.381,"endTime":93.421,"body":"We are a nonprofit housing"},{"speaker":"Ryan Cassidy","startTime":88.381,"endTime":93.421,"body":"developer and social service"},{"speaker":"Ryan Cassidy","startTime":93.421,"endTime":95.311,"body":"provider in Brooklyn, New York."},{"speaker":"Ryan Cassidy","startTime":95.761,"endTime":101.041,"body":"We've been around for over 40 years and"},{"speaker":"Ryan Cassidy","startTime":95.761,"endTime":101.041,"body":"we've been in that time providing social"},{"speaker":"Ryan Cassidy","startTime":101.041,"endTime":106.831,"body":"services and really using housing as"},{"speaker":"Ryan Cassidy","startTime":101.041,"endTime":106.831,"body":"like a foundational, service to, uh,"},{"speaker":"Ryan Cassidy","startTime":106.891,"endTime":109.017,"body":"help people, thrive in their communities."},{"speaker":"Tom Raftery","startTime":109.777,"endTime":110.257,"body":"Okay."},{"speaker":"Tom Raftery","startTime":110.647,"endTime":113.597,"body":"And this is the Climate 21 podcast Ryan."},{"speaker":"Tom Raftery","startTime":113.597,"endTime":115.767,"body":"What has housing got to do with climate?"},{"speaker":"Ryan Cassidy","startTime":117.952,"endTime":118.192,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":118.192,"endTime":124.492,"body":"So in New York city in a lot of major"},{"speaker":"Ryan Cassidy","startTime":118.192,"endTime":124.492,"body":"urban areas, uh, multi-family housing"},{"speaker":"Ryan Cassidy","startTime":124.492,"endTime":128.696,"body":"is one of the largest, producers"},{"speaker":"Ryan Cassidy","startTime":124.492,"endTime":128.696,"body":"of greenhouse gases and users of"},{"speaker":"Ryan Cassidy","startTime":128.696,"endTime":131.657,"body":"energy in the overall, energy sector."},{"speaker":"Ryan Cassidy","startTime":131.677,"endTime":136.374,"body":"So New York state and New York city is,"},{"speaker":"Ryan Cassidy","startTime":131.677,"endTime":136.374,"body":"has realized, over the last, probably"},{"speaker":"Ryan Cassidy","startTime":136.374,"endTime":141.564,"body":"15 to 20 years that we can't approach"},{"speaker":"Ryan Cassidy","startTime":136.374,"endTime":141.564,"body":"the climate problem without dealing"},{"speaker":"Ryan Cassidy","startTime":141.564,"endTime":145.394,"body":"with our multi-family buildings,"},{"speaker":"Ryan Cassidy","startTime":141.564,"endTime":145.394,"body":"especially multi-family buildings."},{"speaker":"Ryan Cassidy","startTime":145.394,"endTime":149.604,"body":"These are really dense buildings that"},{"speaker":"Ryan Cassidy","startTime":145.394,"endTime":149.604,"body":"you know, that you see throughout"},{"speaker":"Ryan Cassidy","startTime":149.604,"endTime":153.744,"body":"cities that are between, you know, four"},{"speaker":"Ryan Cassidy","startTime":149.604,"endTime":153.744,"body":"stories and up, and that provide the"},{"speaker":"Ryan Cassidy","startTime":153.744,"endTime":156.379,"body":"bulk of the housing in New York city."},{"speaker":"Ryan Cassidy","startTime":156.469,"endTime":161.036,"body":"And so that's a major component of,"},{"speaker":"Ryan Cassidy","startTime":156.469,"endTime":161.036,"body":"uh, what we're doing and what we've"},{"speaker":"Ryan Cassidy","startTime":161.036,"endTime":164.3,"body":"been involved in, in the last, 20"},{"speaker":"Ryan Cassidy","startTime":161.036,"endTime":164.3,"body":"years during our housing development."},{"speaker":"Tom Raftery","startTime":165.15,"endTime":165.48,"body":"Okay."},{"speaker":"Tom Raftery","startTime":165.48,"endTime":168.9,"body":"And by multi-family buildings, you're"},{"speaker":"Tom Raftery","startTime":165.48,"endTime":168.9,"body":"talking about the kind of apartment"},{"speaker":"Tom Raftery","startTime":168.9,"endTime":170.67,"body":"complexes, that kind of thing."},{"speaker":"Tom Raftery","startTime":170.74,"endTime":170.98,"body":"Yeah?"},{"speaker":"Ryan Cassidy","startTime":173.0,"endTime":173.16,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":173.16,"endTime":173.69,"body":"That's correct."},{"speaker":"Tom Raftery","startTime":174.04,"endTime":174.35,"body":"Okay."},{"speaker":"Tom Raftery","startTime":174.35,"endTime":176.663,"body":"And How do you fix that?"},{"speaker":"Tom Raftery","startTime":176.663,"endTime":180.653,"body":"How do you make sure that"},{"speaker":"Tom Raftery","startTime":176.663,"endTime":180.653,"body":"the energy that they use?"},{"speaker":"Tom Raftery","startTime":181.073,"endTime":183.653,"body":"well, how do you reduce, I guess"},{"speaker":"Tom Raftery","startTime":181.073,"endTime":183.653,"body":"their, their energy footprint, which"},{"speaker":"Tom Raftery","startTime":183.653,"endTime":185.063,"body":"is the big problem you're alluding to?"},{"speaker":"Ryan Cassidy","startTime":186.593,"endTime":186.893,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":186.893,"endTime":188.003,"body":"So there's two."},{"speaker":"Ryan Cassidy","startTime":188.603,"endTime":189.803,"body":"Types of housing stock."},{"speaker":"Ryan Cassidy","startTime":189.803,"endTime":193.133,"body":"One is the, is the stuff that"},{"speaker":"Ryan Cassidy","startTime":189.803,"endTime":193.133,"body":"we're doing in new construction."},{"speaker":"Ryan Cassidy","startTime":193.193,"endTime":198.083,"body":"And so there's been a real revolution"},{"speaker":"Ryan Cassidy","startTime":193.193,"endTime":198.083,"body":"in, in New York state over the"},{"speaker":"Ryan Cassidy","startTime":198.083,"endTime":201.233,"body":"last 20 years where the quality"},{"speaker":"Ryan Cassidy","startTime":198.083,"endTime":201.233,"body":"of the new construction that we're"},{"speaker":"Ryan Cassidy","startTime":201.233,"endTime":203.213,"body":"building as it relates to energy."},{"speaker":"Ryan Cassidy","startTime":203.213,"endTime":203.693,"body":"So."},{"speaker":"Ryan Cassidy","startTime":204.208,"endTime":207.778,"body":"We know we can build buildings that"},{"speaker":"Ryan Cassidy","startTime":204.208,"endTime":207.778,"body":"are vastly more efficient than even"},{"speaker":"Ryan Cassidy","startTime":207.778,"endTime":209.908,"body":"buildings we built 10 or 15 years ago."},{"speaker":"Ryan Cassidy","startTime":210.198,"endTime":213.918,"body":"So on that side of the equation, you"},{"speaker":"Ryan Cassidy","startTime":210.198,"endTime":213.918,"body":"know, there there's a path forward there"},{"speaker":"Ryan Cassidy","startTime":213.918,"endTime":217.248,"body":"to build more efficient buildings, but"},{"speaker":"Ryan Cassidy","startTime":213.918,"endTime":217.248,"body":"the real challenge and the challenge"},{"speaker":"Ryan Cassidy","startTime":217.248,"endTime":222.258,"body":"that most city space is that most of"},{"speaker":"Ryan Cassidy","startTime":217.248,"endTime":222.258,"body":"the buildings that are there In the"},{"speaker":"Ryan Cassidy","startTime":222.498,"endTime":224.628,"body":"city are, are already built, right?"},{"speaker":"Ryan Cassidy","startTime":224.628,"endTime":227.775,"body":"So most of the, the land"},{"speaker":"Ryan Cassidy","startTime":224.628,"endTime":227.775,"body":"use is already happening."},{"speaker":"Ryan Cassidy","startTime":227.985,"endTime":229.695,"body":"The energy footprint is already there."},{"speaker":"Ryan Cassidy","startTime":229.905,"endTime":232.575,"body":"So if we only address new"},{"speaker":"Ryan Cassidy","startTime":229.905,"endTime":232.575,"body":"construction, that's only a tiny"},{"speaker":"Ryan Cassidy","startTime":232.575,"endTime":234.195,"body":"sliver of energy consumption."},{"speaker":"Ryan Cassidy","startTime":234.195,"endTime":239.145,"body":"So the way they get to energy reduction"},{"speaker":"Ryan Cassidy","startTime":234.195,"endTime":239.145,"body":"is to really deal with existing buildings."},{"speaker":"Ryan Cassidy","startTime":239.785,"endTime":242.715,"body":"And so that's where the challenge"},{"speaker":"Ryan Cassidy","startTime":239.785,"endTime":242.715,"body":"comes in because you've got occupied"},{"speaker":"Ryan Cassidy","startTime":242.715,"endTime":246.135,"body":"buildings, you have buildings that"},{"speaker":"Ryan Cassidy","startTime":242.715,"endTime":246.135,"body":"were built in the case in New York city"},{"speaker":"Ryan Cassidy","startTime":246.135,"endTime":250.781,"body":"over the range of mostly, you know,"},{"speaker":"Ryan Cassidy","startTime":246.135,"endTime":250.781,"body":"anywhere between 20 to a hundred and"},{"speaker":"Ryan Cassidy","startTime":250.781,"endTime":252.525,"body":"fifty, a hundred seventy five years ago."},{"speaker":"Ryan Cassidy","startTime":252.975,"endTime":258.015,"body":"And so dealing with the energy footprint"},{"speaker":"Ryan Cassidy","startTime":252.975,"endTime":258.015,"body":"of those buildings is a real challenge."},{"speaker":"Ryan Cassidy","startTime":258.015,"endTime":261.035,"body":"And so what we've learned from"},{"speaker":"Ryan Cassidy","startTime":258.015,"endTime":261.035,"body":"new construction, they're kind"},{"speaker":"Ryan Cassidy","startTime":261.035,"endTime":266.82,"body":"of like means and methods, to get"},{"speaker":"Ryan Cassidy","startTime":261.035,"endTime":266.82,"body":"to a highly efficient buildings."},{"speaker":"Ryan Cassidy","startTime":267.15,"endTime":270.9,"body":"And we're trying to take those lessons"},{"speaker":"Ryan Cassidy","startTime":267.15,"endTime":270.9,"body":"learned in new construction and apply"},{"speaker":"Ryan Cassidy","startTime":270.9,"endTime":274.41,"body":"them to existing, uh, retrofits."},{"speaker":"Ryan Cassidy","startTime":274.47,"endTime":280.71,"body":"The way that we've done it at Riseboro has"},{"speaker":"Ryan Cassidy","startTime":274.47,"endTime":280.71,"body":"been to use, passive house construction"},{"speaker":"Ryan Cassidy","startTime":280.71,"endTime":286.2,"body":"a passive house is a type of building"},{"speaker":"Ryan Cassidy","startTime":280.71,"endTime":286.2,"body":"that's been around for quite some time, in"},{"speaker":"Ryan Cassidy","startTime":286.2,"endTime":292.17,"body":"Europe and recently kind of came back to"},{"speaker":"Ryan Cassidy","startTime":286.2,"endTime":292.17,"body":"the U S in the last 10 years and is really"},{"speaker":"Ryan Cassidy","startTime":292.5,"endTime":295.11,"body":"all about insulation and air sealing."},{"speaker":"Ryan Cassidy","startTime":295.11,"endTime":299.2,"body":"So if you have a really well-insulated"},{"speaker":"Ryan Cassidy","startTime":295.11,"endTime":299.2,"body":"building that isn't leaky and is"},{"speaker":"Ryan Cassidy","startTime":299.2,"endTime":304.091,"body":"kind of airtight you can drastically"},{"speaker":"Ryan Cassidy","startTime":299.2,"endTime":304.091,"body":"reduce your loads, in the building"},{"speaker":"Ryan Cassidy","startTime":304.121,"endTime":306.041,"body":"and then use far less energy."},{"speaker":"Ryan Cassidy","startTime":306.161,"endTime":309.911,"body":"And the metrics on this"},{"speaker":"Ryan Cassidy","startTime":306.161,"endTime":309.911,"body":"are, are not incremental."},{"speaker":"Ryan Cassidy","startTime":309.911,"endTime":312.851,"body":"It's not 20% savings or 30% savings."},{"speaker":"Ryan Cassidy","startTime":313.211,"endTime":317.981,"body":"These are deeply, efficient buildings"},{"speaker":"Ryan Cassidy","startTime":313.211,"endTime":317.981,"body":"they use anywhere between 60 and 80%,"},{"speaker":"Ryan Cassidy","startTime":317.981,"endTime":320.411,"body":"less energy than a standard building."},{"speaker":"Ryan Cassidy","startTime":320.861,"endTime":322.871,"body":"So on the new construction"},{"speaker":"Ryan Cassidy","startTime":320.861,"endTime":322.871,"body":"side, like I said, we're."},{"speaker":"Ryan Cassidy","startTime":323.037,"endTime":324.507,"body":"Those changes have been implemented."},{"speaker":"Ryan Cassidy","startTime":324.867,"endTime":328.973,"body":"A lot of, builders know how to do"},{"speaker":"Ryan Cassidy","startTime":324.867,"endTime":328.973,"body":"it now, but we're really still in"},{"speaker":"Ryan Cassidy","startTime":328.973,"endTime":332.963,"body":"the early stages of learning how"},{"speaker":"Ryan Cassidy","startTime":328.973,"endTime":332.963,"body":"to do this on existing buildings."},{"speaker":"Ryan Cassidy","startTime":332.963,"endTime":336.563,"body":"So that's where, that's where the,"},{"speaker":"Ryan Cassidy","startTime":332.963,"endTime":336.563,"body":"the biggest lever is for improvement,"},{"speaker":"Ryan Cassidy","startTime":336.923,"endTime":339.593,"body":"uh, citywide, and that's where"},{"speaker":"Ryan Cassidy","startTime":336.923,"endTime":339.593,"body":"like the most learning probably"},{"speaker":"Ryan Cassidy","startTime":339.593,"endTime":341.293,"body":"needs to occur as we move forward."},{"speaker":"Tom Raftery","startTime":342.056,"endTime":342.446,"body":"Okay."},{"speaker":"Tom Raftery","startTime":342.446,"endTime":347.876,"body":"I can imagine, obviously, if you're"},{"speaker":"Tom Raftery","startTime":342.446,"endTime":347.876,"body":"building a new house, as you said, I"},{"speaker":"Tom Raftery","startTime":347.876,"endTime":351.756,"body":"presume building codes have been updated"},{"speaker":"Tom Raftery","startTime":347.876,"endTime":351.756,"body":"and it's now required to put some of"},{"speaker":"Tom Raftery","startTime":351.756,"endTime":353.346,"body":"these things in place, a new housing."},{"speaker":"Tom Raftery","startTime":353.346,"endTime":355.866,"body":"So you get economies of scale there."},{"speaker":"Tom Raftery","startTime":356.286,"endTime":360.396,"body":"And as you say, builders or builders"},{"speaker":"Tom Raftery","startTime":356.286,"endTime":360.396,"body":"are coming up to speed on how to do it."},{"speaker":"Tom Raftery","startTime":361.206,"endTime":363.136,"body":"How do you do it with existing stock?"},{"speaker":"Ryan Cassidy","startTime":365.246,"endTime":365.566,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":365.626,"endTime":367.576,"body":"Well, you, you mentioned that"},{"speaker":"Ryan Cassidy","startTime":365.626,"endTime":367.576,"body":"you raised a good point, right?"},{"speaker":"Ryan Cassidy","startTime":367.576,"endTime":372.196,"body":"So the building code is the biggest,"},{"speaker":"Ryan Cassidy","startTime":367.576,"endTime":372.196,"body":"policy point in the biggest lever"},{"speaker":"Ryan Cassidy","startTime":372.196,"endTime":376.396,"body":"that we have in getting like"},{"speaker":"Ryan Cassidy","startTime":372.196,"endTime":376.396,"body":"mass adoption of, new techniques."},{"speaker":"Ryan Cassidy","startTime":376.396,"endTime":380.446,"body":"So New York city didn't really"},{"speaker":"Ryan Cassidy","startTime":376.396,"endTime":380.446,"body":"have much of an energy code all the"},{"speaker":"Ryan Cassidy","startTime":380.446,"endTime":383.566,"body":"way up until probably like 2015."},{"speaker":"Ryan Cassidy","startTime":383.566,"endTime":387.436,"body":"So that the energy codes that we're"},{"speaker":"Ryan Cassidy","startTime":383.566,"endTime":387.436,"body":"talking about are, are really new."},{"speaker":"Ryan Cassidy","startTime":387.466,"endTime":389.966,"body":"Um, and they're getting"},{"speaker":"Ryan Cassidy","startTime":387.466,"endTime":389.966,"body":"better all the time."},{"speaker":"Ryan Cassidy","startTime":389.966,"endTime":394.126,"body":"And in every couple of years, there's what"},{"speaker":"Ryan Cassidy","startTime":389.966,"endTime":394.126,"body":"they call the stretch code that kind of is"},{"speaker":"Ryan Cassidy","startTime":394.126,"endTime":399.166,"body":"going deeper and deeper into, uh, making"},{"speaker":"Ryan Cassidy","startTime":394.126,"endTime":399.166,"body":"new buildings be more energy efficient."},{"speaker":"Ryan Cassidy","startTime":399.616,"endTime":400.456,"body":"So that's been great."},{"speaker":"Ryan Cassidy","startTime":400.456,"endTime":405.121,"body":"It's really forced the market to, to"},{"speaker":"Ryan Cassidy","startTime":400.456,"endTime":405.121,"body":"deal with Both how to construct these"},{"speaker":"Ryan Cassidy","startTime":405.121,"endTime":406.681,"body":"new buildings and the means and methods."},{"speaker":"Ryan Cassidy","startTime":407.078,"endTime":409.478,"body":"So the question is what do"},{"speaker":"Ryan Cassidy","startTime":407.078,"endTime":409.478,"body":"we do on existing buildings?"},{"speaker":"Ryan Cassidy","startTime":409.508,"endTime":413.018,"body":"So the, the sticks and the carrots"},{"speaker":"Ryan Cassidy","startTime":409.508,"endTime":413.018,"body":"are still there that you would get,"},{"speaker":"Ryan Cassidy","startTime":413.108,"endTime":414.878,"body":"uh, for new construction, right?"},{"speaker":"Ryan Cassidy","startTime":414.878,"endTime":420.008,"body":"You can have a code apply to"},{"speaker":"Ryan Cassidy","startTime":414.878,"endTime":420.008,"body":"older buildings in the city"},{"speaker":"Ryan Cassidy","startTime":420.368,"endTime":421.448,"body":"of New York has done that."},{"speaker":"Ryan Cassidy","startTime":421.448,"endTime":425.978,"body":"There's now these energy, uh, scores that"},{"speaker":"Ryan Cassidy","startTime":421.448,"endTime":425.978,"body":"you'll see on the outsides of buildings,"},{"speaker":"Ryan Cassidy","startTime":426.038,"endTime":428.378,"body":"uh, much as we did in restaurants."},{"speaker":"Ryan Cassidy","startTime":429.068,"endTime":431.558,"body":"10 or 15 years ago where they"},{"speaker":"Ryan Cassidy","startTime":429.068,"endTime":431.558,"body":"started scoring restaurants."},{"speaker":"Ryan Cassidy","startTime":431.558,"endTime":433.178,"body":"You now get a building energy score."},{"speaker":"Ryan Cassidy","startTime":433.598,"endTime":438.068,"body":"So property managers and building"},{"speaker":"Ryan Cassidy","startTime":433.598,"endTime":438.068,"body":"owners, don't like to have a C or"},{"speaker":"Ryan Cassidy","startTime":438.068,"endTime":442.538,"body":"a D hanging outside of their, of"},{"speaker":"Ryan Cassidy","startTime":438.068,"endTime":442.538,"body":"their beautiful, residential building"},{"speaker":"Ryan Cassidy","startTime":442.738,"endTime":446.708,"body":"and tenants are becoming more aware"},{"speaker":"Ryan Cassidy","startTime":442.738,"endTime":446.708,"body":"of what that is and what it means."},{"speaker":"Ryan Cassidy","startTime":447.038,"endTime":451.358,"body":"And so that's been one, uh, kind of"},{"speaker":"Ryan Cassidy","startTime":447.038,"endTime":451.358,"body":"very visible policy that the city is"},{"speaker":"Ryan Cassidy","startTime":451.838,"endTime":453.608,"body":"implemented as this building scoring."},{"speaker":"Ryan Cassidy","startTime":454.268,"endTime":456.098,"body":"What goes along with that is."},{"speaker":"Ryan Cassidy","startTime":457.313,"endTime":461.933,"body":"Ultimately penalties for not getting"},{"speaker":"Ryan Cassidy","startTime":457.313,"endTime":461.933,"body":"your building, to an energy efficiency"},{"speaker":"Ryan Cassidy","startTime":461.933,"endTime":463.703,"body":"standard, that the city wants to see."},{"speaker":"Ryan Cassidy","startTime":463.703,"endTime":469.073,"body":"So over time, there's right now, it's"},{"speaker":"Ryan Cassidy","startTime":463.703,"endTime":469.073,"body":"just for informational purposes, but over"},{"speaker":"Ryan Cassidy","startTime":469.073,"endTime":471.293,"body":"time, there's going to be actual fines."},{"speaker":"Ryan Cassidy","startTime":471.293,"endTime":474.233,"body":"And in sinew, the city is going"},{"speaker":"Ryan Cassidy","startTime":471.293,"endTime":474.233,"body":"to start fining building owners"},{"speaker":"Ryan Cassidy","startTime":474.233,"endTime":475.643,"body":"for poorly performing buildings."},{"speaker":"Ryan Cassidy","startTime":475.643,"endTime":478.613,"body":"And so that's the motivation"},{"speaker":"Ryan Cassidy","startTime":475.643,"endTime":478.613,"body":"right now is probably more on"},{"speaker":"Ryan Cassidy","startTime":478.613,"endTime":480.173,"body":"the marketing and leasing side."},{"speaker":"Ryan Cassidy","startTime":480.563,"endTime":483.983,"body":"but over the next few years, that's"},{"speaker":"Ryan Cassidy","startTime":480.563,"endTime":483.983,"body":"going to start to hit the pockets"},{"speaker":"Ryan Cassidy","startTime":484.043,"endTime":487.103,"body":"of owners and owners, don't like to"},{"speaker":"Ryan Cassidy","startTime":484.043,"endTime":487.103,"body":"spend money on those types of things."},{"speaker":"Ryan Cassidy","startTime":487.103,"endTime":491.063,"body":"And so the idea is that it starts"},{"speaker":"Ryan Cassidy","startTime":487.103,"endTime":491.063,"body":"to drive, these meaningful upgrades."},{"speaker":"Tom Raftery","startTime":491.451,"endTime":491.781,"body":"Okay."},{"speaker":"Tom Raftery","startTime":491.781,"endTime":493.251,"body":"And what kind of."},{"speaker":"Tom Raftery","startTime":494.576,"endTime":498.686,"body":"What can you do to an older"},{"speaker":"Tom Raftery","startTime":494.576,"endTime":498.686,"body":"building to make it more passive?"},{"speaker":"Ryan Cassidy","startTime":527.926,"endTime":533.2660000000001,"body":"Yeah so, it remains,"},{"speaker":"Ryan Cassidy","startTime":527.926,"endTime":533.2660000000001,"body":"uh, the key components are still"},{"speaker":"Ryan Cassidy","startTime":533.2660000000001,"endTime":535.0160000000001,"body":"insulation and air sealing."},{"speaker":"Ryan Cassidy","startTime":535.066,"endTime":539.926,"body":"So in the affordable housing space, you"},{"speaker":"Ryan Cassidy","startTime":535.066,"endTime":539.926,"body":"know, affordable, housing's had a unique"},{"speaker":"Ryan Cassidy","startTime":539.926,"endTime":542.686,"body":"opportunity to be a leader in the field."},{"speaker":"Ryan Cassidy","startTime":543.6160000000001,"endTime":548.3330000000001,"body":"Because most of our operating"},{"speaker":"Ryan Cassidy","startTime":543.6160000000001,"endTime":548.3330000000001,"body":"budgets are spent on utilities and"},{"speaker":"Ryan Cassidy","startTime":548.3330000000001,"endTime":552.743,"body":"because we can't raise rents the"},{"speaker":"Ryan Cassidy","startTime":548.3330000000001,"endTime":552.743,"body":"way a market rate developer can just"},{"speaker":"Ryan Cassidy","startTime":552.743,"endTime":555.0830000000001,"body":"simply ride the wave of the market."},{"speaker":"Ryan Cassidy","startTime":555.0830000000001,"endTime":557.633,"body":"And, you know, an apartment"},{"speaker":"Ryan Cassidy","startTime":555.0830000000001,"endTime":557.633,"body":"that 10 years ago costs."},{"speaker":"Ryan Cassidy","startTime":558.2330000000001,"endTime":562.523,"body":"$2,000 now cost $4,000 and they"},{"speaker":"Ryan Cassidy","startTime":558.2330000000001,"endTime":562.523,"body":"can just, you know, rake it in."},{"speaker":"Ryan Cassidy","startTime":562.633,"endTime":563.5730000000001,"body":"In affordable housing."},{"speaker":"Ryan Cassidy","startTime":563.5730000000001,"endTime":564.263,"body":"We can't do that."},{"speaker":"Ryan Cassidy","startTime":564.263,"endTime":568.3530000000001,"body":"So we have constrained, incomes,"},{"speaker":"Ryan Cassidy","startTime":564.263,"endTime":568.3530000000001,"body":"so it makes our operating"},{"speaker":"Ryan Cassidy","startTime":568.4730000000001,"endTime":570.0630000000001,"body":"expenses even more critical."},{"speaker":"Ryan Cassidy","startTime":570.4530000000001,"endTime":573.4530000000001,"body":"And when you look at our operating"},{"speaker":"Ryan Cassidy","startTime":570.4530000000001,"endTime":573.4530000000001,"body":"expenses, you know, anywhere"},{"speaker":"Ryan Cassidy","startTime":573.4530000000001,"endTime":578.3130000000001,"body":"between 30 and 50% of our"},{"speaker":"Ryan Cassidy","startTime":573.4530000000001,"endTime":578.3130000000001,"body":"operating budget is for utilities."},{"speaker":"Ryan Cassidy","startTime":578.3130000000001,"endTime":578.7030000000001,"body":"So."},{"speaker":"Ryan Cassidy","startTime":579.513,"endTime":583.8330000000001,"body":"It's spurred affordable housing developers"},{"speaker":"Ryan Cassidy","startTime":579.513,"endTime":583.8330000000001,"body":"to get into this space over the last,"},{"speaker":"Ryan Cassidy","startTime":584.013,"endTime":587.913,"body":"you know, five to seven years in a way"},{"speaker":"Ryan Cassidy","startTime":584.013,"endTime":587.913,"body":"that, uh, market rate providers have not."},{"speaker":"Ryan Cassidy","startTime":588.033,"endTime":590.283,"body":"So what have we learned?"},{"speaker":"Ryan Cassidy","startTime":590.3130000000001,"endTime":595.3230000000001,"body":"We've learned that air sealing and"},{"speaker":"Ryan Cassidy","startTime":590.3130000000001,"endTime":595.3230000000001,"body":"insulation are the keys to load reduction"},{"speaker":"Ryan Cassidy","startTime":595.3230000000001,"endTime":601.1830000000001,"body":"in producing, energy, use in a building"},{"speaker":"Ryan Cassidy","startTime":595.3230000000001,"endTime":601.1830000000001,"body":"and the best way to do that with occupied"},{"speaker":"Ryan Cassidy","startTime":601.1830000000001,"endTime":603.9430000000001,"body":"buildings, because you're not, you"},{"speaker":"Ryan Cassidy","startTime":601.1830000000001,"endTime":603.9430000000001,"body":"know, you're not emptying buildings out."},{"speaker":"Ryan Cassidy","startTime":604.738,"endTime":609.2080000000001,"body":"Being able to go in and do these massive"},{"speaker":"Ryan Cassidy","startTime":604.738,"endTime":609.2080000000001,"body":"renovations is to do it from the outside."},{"speaker":"Ryan Cassidy","startTime":609.3580000000001,"endTime":613.888,"body":"So, that's led to a lot of"},{"speaker":"Ryan Cassidy","startTime":609.3580000000001,"endTime":613.888,"body":"interesting, uh, means And methods"},{"speaker":"Ryan Cassidy","startTime":613.888,"endTime":615.508,"body":"with contractors and with designers."},{"speaker":"Ryan Cassidy","startTime":615.8080000000001,"endTime":619.0780000000001,"body":"It gives a really great opportunity"},{"speaker":"Ryan Cassidy","startTime":615.8080000000001,"endTime":619.0780000000001,"body":"to, to change the look of these"},{"speaker":"Ryan Cassidy","startTime":619.0780000000001,"endTime":621.1780000000001,"body":"buildings and in a meaningful way."},{"speaker":"Ryan Cassidy","startTime":621.4780000000001,"endTime":625.048,"body":"One of the problems with affordable"},{"speaker":"Ryan Cassidy","startTime":621.4780000000001,"endTime":625.048,"body":"housing is that you could essentially walk"},{"speaker":"Ryan Cassidy","startTime":625.048,"endTime":628.4380000000001,"body":"around the city and point to the buildings"},{"speaker":"Ryan Cassidy","startTime":625.048,"endTime":628.4380000000001,"body":"that are affordable housing, right?"},{"speaker":"Ryan Cassidy","startTime":628.4380000000001,"endTime":631.3180000000001,"body":"We all, we all know what the"},{"speaker":"Ryan Cassidy","startTime":628.4380000000001,"endTime":631.3180000000001,"body":"NYCHA buildings look like."},{"speaker":"Ryan Cassidy","startTime":631.3180000000001,"endTime":634.7950000000001,"body":"We know what Mitchell Lama buildings"},{"speaker":"Ryan Cassidy","startTime":631.3180000000001,"endTime":634.7950000000001,"body":"look like and so this is an opportunity"},{"speaker":"Ryan Cassidy","startTime":634.7950000000001,"endTime":639.475,"body":"to not only change their energy profile,"},{"speaker":"Ryan Cassidy","startTime":634.7950000000001,"endTime":639.475,"body":"but to really, change them from an"},{"speaker":"Ryan Cassidy","startTime":639.475,"endTime":642.5350000000001,"body":"aesthetic point of view, that can be"},{"speaker":"Ryan Cassidy","startTime":639.475,"endTime":642.5350000000001,"body":"really meaningful to people as well."},{"speaker":"Ryan Cassidy","startTime":642.5350000000001,"endTime":648.235,"body":"So, recladding buildings, with a really"},{"speaker":"Ryan Cassidy","startTime":642.5350000000001,"endTime":648.235,"body":"dense insulation is the best way to"},{"speaker":"Ryan Cassidy","startTime":648.235,"endTime":652.475,"body":"lower the loads and the best way to get"},{"speaker":"Ryan Cassidy","startTime":648.235,"endTime":652.475,"body":"to these deep energy retrofit savings."},{"speaker":"Ryan Cassidy","startTime":653.375,"endTime":657.301,"body":"The second piece is broadly"},{"speaker":"Ryan Cassidy","startTime":653.375,"endTime":657.301,"body":"called electrification."},{"speaker":"Ryan Cassidy","startTime":657.331,"endTime":661.291,"body":"And what that means is that we're"},{"speaker":"Ryan Cassidy","startTime":657.331,"endTime":661.291,"body":"moving off of fossil fuels to keep,"},{"speaker":"Ryan Cassidy","startTime":661.591,"endTime":663.331,"body":"buildings and to heat, hot water."},{"speaker":"Ryan Cassidy","startTime":663.6310000000001,"endTime":668.495,"body":"And we're moving to systems, that are,"},{"speaker":"Ryan Cassidy","startTime":663.6310000000001,"endTime":668.495,"body":"electrical and in almost all cases, that"},{"speaker":"Ryan Cassidy","startTime":668.495,"endTime":673.0100000000001,"body":"means, an air source heat pump, which"},{"speaker":"Ryan Cassidy","startTime":668.495,"endTime":673.0100000000001,"body":"is like a, you know, condenser on your"},{"speaker":"Ryan Cassidy","startTime":673.0100000000001,"endTime":677.45,"body":"rooftop and then in your unit, you get"},{"speaker":"Ryan Cassidy","startTime":673.0100000000001,"endTime":677.45,"body":"like a wall hung unit or a ducted system."},{"speaker":"Ryan Cassidy","startTime":678.0500000000001,"endTime":680.0300000000001,"body":"So we kind of know how to do that."},{"speaker":"Ryan Cassidy","startTime":680.0300000000001,"endTime":684.4100000000001,"body":"And so those renovations, those two"},{"speaker":"Ryan Cassidy","startTime":680.0300000000001,"endTime":684.4100000000001,"body":"pieces, you know, insulation, air sealing,"},{"speaker":"Ryan Cassidy","startTime":684.83,"endTime":687.1400000000001,"body":"and then electrification are the pathway."},{"speaker":"Ryan Cassidy","startTime":687.44,"endTime":690.32,"body":"And that's something we've learned in"},{"speaker":"Ryan Cassidy","startTime":687.44,"endTime":690.32,"body":"over the last few years, uh, that maybe"},{"speaker":"Ryan Cassidy","startTime":690.32,"endTime":692.6300000000001,"body":"we didn't know, five to seven years ago."},{"speaker":"Ryan Cassidy","startTime":692.6300000000001,"endTime":696.4000000000001,"body":"And now I think is pretty clear in the"},{"speaker":"Ryan Cassidy","startTime":692.6300000000001,"endTime":696.4000000000001,"body":"market of what we need to do to get there."},{"speaker":"Tom Raftery","startTime":697.5200000000001,"endTime":700.4000000000001,"body":"And what kind of costs"},{"speaker":"Tom Raftery","startTime":697.5200000000001,"endTime":700.4000000000001,"body":"does that entail for a building?"},{"speaker":"Ryan Cassidy","startTime":701.0110000000001,"endTime":701.311,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":701.311,"endTime":706.648,"body":"So in affordable housing we have like"},{"speaker":"Ryan Cassidy","startTime":701.311,"endTime":706.648,"body":"these very clear milestones of when we,"},{"speaker":"Ryan Cassidy","startTime":706.705,"endTime":710.815,"body":"refinance buildings and when we are kind"},{"speaker":"Ryan Cassidy","startTime":706.705,"endTime":710.815,"body":"of taking on major capital improvements,"},{"speaker":"Ryan Cassidy","startTime":711.355,"endTime":715.681,"body":"it's a little different than market rate"},{"speaker":"Ryan Cassidy","startTime":711.355,"endTime":715.681,"body":"buildings but in both cases, we know the"},{"speaker":"Ryan Cassidy","startTime":715.681,"endTime":718.6410000000001,"body":"costs now of what these renovations are."},{"speaker":"Ryan Cassidy","startTime":718.691,"endTime":723.003,"body":"And they are greater than"},{"speaker":"Ryan Cassidy","startTime":718.691,"endTime":723.003,"body":"what is, uh, what's typically"},{"speaker":"Ryan Cassidy","startTime":723.003,"endTime":724.773,"body":"done in affordable housing."},{"speaker":"Ryan Cassidy","startTime":724.773,"endTime":728.883,"body":"It's at year 15 where we typically"},{"speaker":"Ryan Cassidy","startTime":724.773,"endTime":728.883,"body":"have like a tax credit investor that"},{"speaker":"Ryan Cassidy","startTime":728.883,"endTime":732.2130000000001,"body":"is exiting the project and we have"},{"speaker":"Ryan Cassidy","startTime":728.883,"endTime":732.2130000000001,"body":"an opportunity to refinance, and"},{"speaker":"Ryan Cassidy","startTime":732.2130000000001,"endTime":733.623,"body":"do some major capital improvements."},{"speaker":"Ryan Cassidy","startTime":734.043,"endTime":738.543,"body":"So at that year 15, we would typically"},{"speaker":"Ryan Cassidy","startTime":734.043,"endTime":738.543,"body":"spend, you know, somewhere between"},{"speaker":"Ryan Cassidy","startTime":738.543,"endTime":744.8430000000001,"body":"like 40 and $60,000 per unit on"},{"speaker":"Ryan Cassidy","startTime":738.543,"endTime":744.8430000000001,"body":"just general, capital prevents the"},{"speaker":"Ryan Cassidy","startTime":744.8430000000001,"endTime":749.7560000000001,"body":"types of renovations we're talking"},{"speaker":"Ryan Cassidy","startTime":744.8430000000001,"endTime":749.7560000000001,"body":"about now, are far above that level."},{"speaker":"Ryan Cassidy","startTime":749.7560000000001,"endTime":754.8860000000001,"body":"We're talking anywhere between"},{"speaker":"Ryan Cassidy","startTime":749.7560000000001,"endTime":754.8860000000001,"body":"125 and $150,000 per unit."},{"speaker":"Ryan Cassidy","startTime":755.1560000000001,"endTime":756.8900000000001,"body":"So that's a, it's a major,  change."},{"speaker":"Ryan Cassidy","startTime":756.8900000000001,"endTime":761.225,"body":"And I think the way to look at it"},{"speaker":"Ryan Cassidy","startTime":756.8900000000001,"endTime":761.225,"body":"isn't maybe as much, the increased"},{"speaker":"Ryan Cassidy","startTime":761.225,"endTime":763.865,"body":"cost as it is a realignment of capital."},{"speaker":"Ryan Cassidy","startTime":763.955,"endTime":767.945,"body":"And so when I say that, what I mean"},{"speaker":"Ryan Cassidy","startTime":763.955,"endTime":767.945,"body":"is that there's been no problem"},{"speaker":"Ryan Cassidy","startTime":767.975,"endTime":771.3050000000001,"body":"in either the affordable or the"},{"speaker":"Ryan Cassidy","startTime":767.975,"endTime":771.3050000000001,"body":"market rate sector of building new"},{"speaker":"Ryan Cassidy","startTime":771.3050000000001,"endTime":773.8850000000001,"body":"construction in these major cities."},{"speaker":"Ryan Cassidy","startTime":773.9150000000001,"endTime":778.085,"body":"And these are cities that construction"},{"speaker":"Ryan Cassidy","startTime":773.9150000000001,"endTime":778.085,"body":"costs just explode over time."},{"speaker":"Ryan Cassidy","startTime":778.1450000000001,"endTime":783.2750000000001,"body":"And so buildings that we built 15"},{"speaker":"Ryan Cassidy","startTime":778.1450000000001,"endTime":783.2750000000001,"body":"years ago for $200 a square foot, we're"},{"speaker":"Ryan Cassidy","startTime":783.2750000000001,"endTime":785.21,"body":"now building for $400 a square foot."},{"speaker":"Ryan Cassidy","startTime":785.6600000000001,"endTime":788.84,"body":"Hasn't really slowed production"},{"speaker":"Ryan Cassidy","startTime":785.6600000000001,"endTime":788.84,"body":"on the new construction side."},{"speaker":"Ryan Cassidy","startTime":789.71,"endTime":792.7700000000001,"body":"So what that tells us is that the"},{"speaker":"Ryan Cassidy","startTime":789.71,"endTime":792.7700000000001,"body":"capital is actually there, right?"},{"speaker":"Ryan Cassidy","startTime":792.95,"endTime":796.7600000000001,"body":"What we don't have as an alignment"},{"speaker":"Ryan Cassidy","startTime":792.95,"endTime":796.7600000000001,"body":"of capital, we don't have this idea"},{"speaker":"Ryan Cassidy","startTime":796.7600000000001,"endTime":800.57,"body":"that renovations are important and"},{"speaker":"Ryan Cassidy","startTime":796.7600000000001,"endTime":800.57,"body":"that banks and lenders are lining"},{"speaker":"Ryan Cassidy","startTime":800.57,"endTime":803.0600000000001,"body":"up to execute projects like this."},{"speaker":"Ryan Cassidy","startTime":803.57,"endTime":809.4960000000001,"body":"So I think there's now a realization that"},{"speaker":"Ryan Cassidy","startTime":803.57,"endTime":809.4960000000001,"body":"we can't solve our, housing problem and"},{"speaker":"Ryan Cassidy","startTime":809.4960000000001,"endTime":814.566,"body":"our energy problem with new construction,"},{"speaker":"Ryan Cassidy","startTime":809.4960000000001,"endTime":814.566,"body":"we have to do more on the renovation side."},{"speaker":"Ryan Cassidy","startTime":814.926,"endTime":819.5830000000001,"body":"And so we need everybody, you know,"},{"speaker":"Ryan Cassidy","startTime":814.926,"endTime":819.5830000000001,"body":"appraisers, lenders, contractors,"},{"speaker":"Ryan Cassidy","startTime":819.5830000000001,"endTime":824.023,"body":"to understand that this is really"},{"speaker":"Ryan Cassidy","startTime":819.5830000000001,"endTime":824.023,"body":"where the new market lies, the"},{"speaker":"Ryan Cassidy","startTime":824.023,"endTime":827.5930000000001,"body":"new opportunities lie, and to just"},{"speaker":"Ryan Cassidy","startTime":824.023,"endTime":827.5930000000001,"body":"align the capital behind that."},{"speaker":"Ryan Cassidy","startTime":827.5930000000001,"endTime":831.373,"body":"So all the resources that we get in"},{"speaker":"Ryan Cassidy","startTime":827.5930000000001,"endTime":831.373,"body":"new construction, we need to start,"},{"speaker":"Ryan Cassidy","startTime":831.4330000000001,"endTime":835.1600000000001,"body":"you know, getting some of those,"},{"speaker":"Ryan Cassidy","startTime":831.4330000000001,"endTime":835.1600000000001,"body":"resources into renovation, budgets."},{"speaker":"Ryan Cassidy","startTime":835.46,"endTime":840.44,"body":"And so I think we know we've learned the"},{"speaker":"Ryan Cassidy","startTime":835.46,"endTime":840.44,"body":"means and methods over time, we've gotten"},{"speaker":"Ryan Cassidy","startTime":840.44,"endTime":844.61,"body":"the, uh, public policy is aligned behind,"},{"speaker":"Ryan Cassidy","startTime":840.44,"endTime":844.61,"body":"you know, delivering the carrots and"},{"speaker":"Ryan Cassidy","startTime":844.61,"endTime":846.32,"body":"the sticks to drive people towards this."},{"speaker":"Ryan Cassidy","startTime":846.59,"endTime":852.076,"body":"And now we just need, banks and, lenders"},{"speaker":"Ryan Cassidy","startTime":846.59,"endTime":852.076,"body":"to understand that, this is how we, get"},{"speaker":"Ryan Cassidy","startTime":852.076,"endTime":857.851,"body":"there, how we get to a lower carbon future"},{"speaker":"Ryan Cassidy","startTime":852.076,"endTime":857.851,"body":"in lower energy efficient, future, and"},{"speaker":"Ryan Cassidy","startTime":857.851,"endTime":861.2410000000001,"body":"make sure that we can align that capital"},{"speaker":"Ryan Cassidy","startTime":857.851,"endTime":861.2410000000001,"body":"and execute these new types of projects."},{"speaker":"Tom Raftery","startTime":861.816,"endTime":862.1460000000001,"body":"Okay."},{"speaker":"Tom Raftery","startTime":862.1460000000001,"endTime":866.73,"body":"And you said, if I understood correctly,"},{"speaker":"Tom Raftery","startTime":862.1460000000001,"endTime":866.73,"body":"you said that the tenants in these, the"},{"speaker":"Tom Raftery","startTime":866.73,"endTime":873.09,"body":"tenants in these houses, their utility"},{"speaker":"Tom Raftery","startTime":866.73,"endTime":873.09,"body":"bills can make up 50% of their costs."},{"speaker":"Tom Raftery","startTime":873.125,"endTime":876.995,"body":"How has that changed when these"},{"speaker":"Tom Raftery","startTime":873.125,"endTime":876.995,"body":"houses become more passive?"},{"speaker":"Ryan Cassidy","startTime":878.205,"endTime":878.5050000000001,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":878.5050000000001,"endTime":883.875,"body":"So the 50% number is kind of our, as the"},{"speaker":"Ryan Cassidy","startTime":878.5050000000001,"endTime":883.875,"body":"owner, what we pay on operating costs."},{"speaker":"Ryan Cassidy","startTime":883.875,"endTime":887.691,"body":"So most of our operating costs"},{"speaker":"Ryan Cassidy","startTime":883.875,"endTime":887.691,"body":"are on utilities, but there"},{"speaker":"Ryan Cassidy","startTime":887.691,"endTime":889.431,"body":"is an impact here for tenants."},{"speaker":"Ryan Cassidy","startTime":889.431,"endTime":894.971,"body":"And we know that, you know, whether it's"},{"speaker":"Ryan Cassidy","startTime":889.431,"endTime":894.971,"body":"con ed or some other utility provider."},{"speaker":"Ryan Cassidy","startTime":895.3810000000001,"endTime":900.1460000000001,"body":"The rates are, starting to skyrocket as"},{"speaker":"Ryan Cassidy","startTime":895.3810000000001,"endTime":900.1460000000001,"body":"we move both away from natural gas and"},{"speaker":"Ryan Cassidy","startTime":900.1460000000001,"endTime":902.2560000000001,"body":"as you know, market conditions change."},{"speaker":"Ryan Cassidy","startTime":902.8760000000001,"endTime":907.2560000000001,"body":"So lowering loads, benefits owners,"},{"speaker":"Ryan Cassidy","startTime":902.8760000000001,"endTime":907.2560000000001,"body":"but it also benefits tenants."},{"speaker":"Ryan Cassidy","startTime":907.3100000000001,"endTime":910.9200000000001,"body":"In New York city, we're all very"},{"speaker":"Ryan Cassidy","startTime":907.3100000000001,"endTime":910.9200000000001,"body":"familiar with, a window AC that"},{"speaker":"Ryan Cassidy","startTime":911.36,"endTime":912.8100000000001,"body":"you put it into your window."},{"speaker":"Ryan Cassidy","startTime":913.1700000000001,"endTime":915.5400000000001,"body":"It's got these goofy"},{"speaker":"Ryan Cassidy","startTime":913.1700000000001,"endTime":915.5400000000001,"body":"flaps that never worked."},{"speaker":"Ryan Cassidy","startTime":915.84,"endTime":919.0400000000001,"body":"And the whole thing is like, you're"},{"speaker":"Ryan Cassidy","startTime":915.84,"endTime":919.0400000000001,"body":"just cranking away on that, uh, air"},{"speaker":"Ryan Cassidy","startTime":919.0400000000001,"endTime":922.49,"body":"conditioner, trying to keep your"},{"speaker":"Ryan Cassidy","startTime":919.0400000000001,"endTime":922.49,"body":"apartment at like a livable temperature."},{"speaker":"Ryan Cassidy","startTime":922.94,"endTime":926.75,"body":"So when you air seal, when you"},{"speaker":"Ryan Cassidy","startTime":922.94,"endTime":926.75,"body":"insulate a building, most of those"},{"speaker":"Ryan Cassidy","startTime":926.75,"endTime":930.44,"body":"problems are being solved from kind"},{"speaker":"Ryan Cassidy","startTime":926.75,"endTime":930.44,"body":"of what we will call the outside."},{"speaker":"Ryan Cassidy","startTime":930.71,"endTime":933.595,"body":"So we're getting better thermal"},{"speaker":"Ryan Cassidy","startTime":930.71,"endTime":933.595,"body":"performance of our walls."},{"speaker":"Ryan Cassidy","startTime":933.595,"endTime":936.8050000000001,"body":"We're getting tighter, wall"},{"speaker":"Ryan Cassidy","startTime":933.595,"endTime":936.8050000000001,"body":"assemblies, and then we've"},{"speaker":"Ryan Cassidy","startTime":936.8050000000001,"endTime":938.1850000000001,"body":"got an air source heat pump."},{"speaker":"Ryan Cassidy","startTime":938.215,"endTime":942.288,"body":"That's our electrification that is,"},{"speaker":"Ryan Cassidy","startTime":938.215,"endTime":942.288,"body":"up on a wall or, or through a sleeve"},{"speaker":"Ryan Cassidy","startTime":942.288,"endTime":947.778,"body":"that's well sealed and it's operating,"},{"speaker":"Ryan Cassidy","startTime":942.288,"endTime":947.778,"body":"highly efficiently and, you know, far"},{"speaker":"Ryan Cassidy","startTime":947.778,"endTime":949.4280000000001,"body":"above what a window AC is going to do."},{"speaker":"Ryan Cassidy","startTime":949.4280000000001,"endTime":953.5680000000001,"body":"So these renovations are also going"},{"speaker":"Ryan Cassidy","startTime":949.4280000000001,"endTime":953.5680000000001,"body":"to produce pretty dramatic savings"},{"speaker":"Ryan Cassidy","startTime":953.5680000000001,"endTime":955.368,"body":"for tenants in terms of cooling."},{"speaker":"Ryan Cassidy","startTime":955.758,"endTime":958.638,"body":"You know, of course, if you're"},{"speaker":"Ryan Cassidy","startTime":955.758,"endTime":958.638,"body":"doing lighting replacements as"},{"speaker":"Ryan Cassidy","startTime":958.638,"endTime":962.048,"body":"well, there's a big opportunity"},{"speaker":"Ryan Cassidy","startTime":958.638,"endTime":962.048,"body":"for, LED lighting replacements."},{"speaker":"Ryan Cassidy","startTime":962.378,"endTime":965.528,"body":"So the overall benefit to"},{"speaker":"Ryan Cassidy","startTime":962.378,"endTime":965.528,"body":"the tenants, on the financial"},{"speaker":"Ryan Cassidy","startTime":965.528,"endTime":967.3280000000001,"body":"side, is also, is also there."},{"speaker":"Ryan Cassidy","startTime":967.6880000000001,"endTime":971.378,"body":"I would add too that, one of"},{"speaker":"Ryan Cassidy","startTime":967.6880000000001,"endTime":971.378,"body":"the things that in the way that"},{"speaker":"Ryan Cassidy","startTime":971.378,"endTime":975.6080000000001,"body":"we really look at passive house"},{"speaker":"Ryan Cassidy","startTime":971.378,"endTime":975.6080000000001,"body":"building at Riseboro, is it's really"},{"speaker":"Ryan Cassidy","startTime":975.6080000000001,"endTime":977.498,"body":"a quality building metric as well."},{"speaker":"Ryan Cassidy","startTime":977.5880000000001,"endTime":980.4480000000001,"body":"When your air sealing something"},{"speaker":"Ryan Cassidy","startTime":977.5880000000001,"endTime":980.4480000000001,"body":"you're stopping the flow of air."},{"speaker":"Ryan Cassidy","startTime":980.498,"endTime":986.3480000000001,"body":"So that means you're stopping not only"},{"speaker":"Ryan Cassidy","startTime":980.498,"endTime":986.3480000000001,"body":"air, but you know, pests smells moisture"},{"speaker":"Ryan Cassidy","startTime":986.3480000000001,"endTime":988.3280000000001,"body":"through assemblies that causes mold."},{"speaker":"Ryan Cassidy","startTime":988.5680000000001,"endTime":991.8380000000001,"body":"So all these other things that are,"},{"speaker":"Ryan Cassidy","startTime":988.5680000000001,"endTime":991.8380000000001,"body":"really quality building metrics and"},{"speaker":"Ryan Cassidy","startTime":991.8380000000001,"endTime":996.248,"body":"have a big impact on tenants lives,"},{"speaker":"Ryan Cassidy","startTime":991.8380000000001,"endTime":996.248,"body":"whether it's, you know, reducing pests,"},{"speaker":"Ryan Cassidy","startTime":996.278,"endTime":997.9680000000001,"body":"reducing the smells in the apartment."},{"speaker":"Ryan Cassidy","startTime":998.268,"endTime":1002.023,"body":"Providing consistent temperatures,"},{"speaker":"Ryan Cassidy","startTime":998.268,"endTime":1002.023,"body":"reducing moisture and mold,"},{"speaker":"Ryan Cassidy","startTime":1002.3230000000001,"endTime":1003.5830000000001,"body":"throughout wall assemblies."},{"speaker":"Ryan Cassidy","startTime":1003.793,"endTime":1006.5530000000001,"body":"So all those things are really"},{"speaker":"Ryan Cassidy","startTime":1003.793,"endTime":1006.5530000000001,"body":"important to tenants and"},{"speaker":"Ryan Cassidy","startTime":1006.653,"endTime":1011.273,"body":"ultimately have some, big impacts,"},{"speaker":"Ryan Cassidy","startTime":1006.653,"endTime":1011.273,"body":"especially, on indoor air quality."},{"speaker":"Ryan Cassidy","startTime":1011.5730000000001,"endTime":1016.1930000000001,"body":"And that's an area that, I think we're,"},{"speaker":"Ryan Cassidy","startTime":1011.5730000000001,"endTime":1016.1930000000001,"body":"we're looking to expand at Riseboro and"},{"speaker":"Ryan Cassidy","startTime":1016.253,"endTime":1020.8430000000001,"body":"we're looking, starting to study indoor"},{"speaker":"Ryan Cassidy","startTime":1016.253,"endTime":1020.8430000000001,"body":"air qualities and, uh, how that relates"},{"speaker":"Ryan Cassidy","startTime":1020.8430000000001,"endTime":1022.673,"body":"to these more energy efficient buildings."},{"speaker":"Tom Raftery","startTime":1023.1930000000001,"endTime":1023.673,"body":"Interesting."},{"speaker":"Tom Raftery","startTime":1023.883,"endTime":1027.993,"body":"I just, I read a study a week or"},{"speaker":"Tom Raftery","startTime":1023.883,"endTime":1027.993,"body":"two back showing that indoor air"},{"speaker":"Tom Raftery","startTime":1027.993,"endTime":1032.103,"body":"quality can be hugely effected"},{"speaker":"Tom Raftery","startTime":1027.993,"endTime":1032.103,"body":"as well by having gas cookers."},{"speaker":"Tom Raftery","startTime":1032.463,"endTime":1034.713,"body":"Are you taking that into"},{"speaker":"Tom Raftery","startTime":1032.463,"endTime":1034.713,"body":"account and switching out gas"},{"speaker":"Tom Raftery","startTime":1034.713,"endTime":1035.913,"body":"cookers for electric cooking?"},{"speaker":"Ryan Cassidy","startTime":1037.833,"endTime":1038.403,"body":"Yeah, we are."},{"speaker":"Ryan Cassidy","startTime":1038.403,"endTime":1040.533,"body":"And that's part of the,"},{"speaker":"Ryan Cassidy","startTime":1038.403,"endTime":1040.533,"body":"uh, electrification."},{"speaker":"Ryan Cassidy","startTime":1040.623,"endTime":1045.123,"body":"We're, we're both, removing the fossil"},{"speaker":"Ryan Cassidy","startTime":1040.623,"endTime":1045.123,"body":"fuels to heat water for hot water and"},{"speaker":"Ryan Cassidy","startTime":1045.123,"endTime":1049.578,"body":"for building heat, but also removing"},{"speaker":"Ryan Cassidy","startTime":1045.123,"endTime":1049.578,"body":"the gas appliances from apartments"},{"speaker":"Ryan Cassidy","startTime":1049.578,"endTime":1052.068,"body":"and moving to electric stoves."},{"speaker":"Ryan Cassidy","startTime":1052.098,"endTime":1057.22,"body":"And, you know, we've, undertaken"},{"speaker":"Ryan Cassidy","startTime":1052.098,"endTime":1057.22,"body":"a study with, MIT over the last"},{"speaker":"Ryan Cassidy","startTime":1057.22,"endTime":1060.8200000000002,"body":"two years to study air quality"},{"speaker":"Ryan Cassidy","startTime":1057.22,"endTime":1060.8200000000002,"body":"inside the existing apartments."},{"speaker":"Ryan Cassidy","startTime":1061.3600000000001,"endTime":1065.8600000000001,"body":"And when you turn on a gas stove"},{"speaker":"Ryan Cassidy","startTime":1061.3600000000001,"endTime":1065.8600000000001,"body":"appliance in an apartment, your air"},{"speaker":"Ryan Cassidy","startTime":1065.8600000000001,"endTime":1068.669,"body":"quality, is drastically affected."},{"speaker":"Ryan Cassidy","startTime":1068.669,"endTime":1072.1490000000001,"body":"And these are air qualities that"},{"speaker":"Ryan Cassidy","startTime":1068.669,"endTime":1072.1490000000001,"body":"aren't just bad for indoor air quality,"},{"speaker":"Ryan Cassidy","startTime":1072.1490000000001,"endTime":1077.0990000000002,"body":"but they're actually, in some cases"},{"speaker":"Ryan Cassidy","startTime":1072.1490000000001,"endTime":1077.0990000000002,"body":"exceeding the air quality for outdoor."},{"speaker":"Ryan Cassidy","startTime":1077.0990000000002,"endTime":1081.132,"body":"So, you know, you're talking about"},{"speaker":"Ryan Cassidy","startTime":1077.0990000000002,"endTime":1081.132,"body":"air quality that that is worse than"},{"speaker":"Ryan Cassidy","startTime":1081.132,"endTime":1084.722,"body":"standing next to a major highway in"},{"speaker":"Ryan Cassidy","startTime":1081.132,"endTime":1084.722,"body":"terms of like particulate matter."},{"speaker":"Ryan Cassidy","startTime":1085.082,"endTime":1086.902,"body":"So it's a real problem."},{"speaker":"Ryan Cassidy","startTime":1086.9170000000001,"endTime":1090.847,"body":"And we know that, especially in"},{"speaker":"Ryan Cassidy","startTime":1086.9170000000001,"endTime":1090.847,"body":"affordable housing, um, low-income"},{"speaker":"Ryan Cassidy","startTime":1090.847,"endTime":1095.857,"body":"communities are more at risk, both from"},{"speaker":"Ryan Cassidy","startTime":1090.847,"endTime":1095.857,"body":"an external environmental perspective."},{"speaker":"Ryan Cassidy","startTime":1096.1570000000002,"endTime":1100.807,"body":"And now what we're learning is that"},{"speaker":"Ryan Cassidy","startTime":1096.1570000000002,"endTime":1100.807,"body":"these gas stoves are also huge sources"},{"speaker":"Ryan Cassidy","startTime":1100.807,"endTime":1102.217,"body":"of pollution within an apartment."},{"speaker":"Ryan Cassidy","startTime":1102.577,"endTime":1108.204,"body":"So if we can get rid of the gas appliance"},{"speaker":"Ryan Cassidy","startTime":1102.577,"endTime":1108.204,"body":"and also introduced a real ventilation"},{"speaker":"Ryan Cassidy","startTime":1108.204,"endTime":1111.99,"body":"into apartments, those are the two"},{"speaker":"Ryan Cassidy","startTime":1108.204,"endTime":1111.99,"body":"pathways to improve, indoor air quality."},{"speaker":"Ryan Cassidy","startTime":1112.3200000000002,"endTime":1115.7,"body":"And you couple that along"},{"speaker":"Ryan Cassidy","startTime":1112.3200000000002,"endTime":1115.7,"body":"with, uh, decreased pests and,"},{"speaker":"Ryan Cassidy","startTime":1115.7640000000001,"endTime":1117.624,"body":"decreased moisture intrusion."},{"speaker":"Ryan Cassidy","startTime":1117.864,"endTime":1120.959,"body":"And you've got an apartment then"},{"speaker":"Ryan Cassidy","startTime":1117.864,"endTime":1120.959,"body":"how it can be really healthy to"},{"speaker":"Ryan Cassidy","startTime":1120.959,"endTime":1124.1390000000001,"body":"be in instead of these, uh, the"},{"speaker":"Ryan Cassidy","startTime":1120.959,"endTime":1124.1390000000001,"body":"apartments that we currently see"},{"speaker":"Ryan Cassidy","startTime":1124.1390000000001,"endTime":1125.6490000000001,"body":"with the existing housing stock."},{"speaker":"Tom Raftery","startTime":1126.434,"endTime":1128.414,"body":"And are you"},{"speaker":"Tom Raftery","startTime":1126.434,"endTime":1128.414,"body":"putting in the likes of double"},{"speaker":"Tom Raftery","startTime":1128.414,"endTime":1129.824,"body":"glazing on windows as well?"},{"speaker":"Tom Raftery","startTime":1129.824,"endTime":1134.334,"body":"Because I can imagine that would help not"},{"speaker":"Tom Raftery","startTime":1129.824,"endTime":1134.334,"body":"just with the thermal insulation, but it"},{"speaker":"Tom Raftery","startTime":1134.334,"endTime":1136.2540000000001,"body":"would also help with noise insulation."},{"speaker":"Ryan Cassidy","startTime":1136.795,"endTime":1137.425,"body":"Yeah, that's right."},{"speaker":"Ryan Cassidy","startTime":1137.425,"endTime":1143.353,"body":"So this kind of outside in approach, is"},{"speaker":"Ryan Cassidy","startTime":1137.425,"endTime":1143.353,"body":"air sealing insulation and in the windows."},{"speaker":"Ryan Cassidy","startTime":1143.353,"endTime":1148.48,"body":"And so we kind of like redo the entire"},{"speaker":"Ryan Cassidy","startTime":1143.353,"endTime":1148.48,"body":"envelope, so that, uh, yeah, the, the"},{"speaker":"Ryan Cassidy","startTime":1148.48,"endTime":1152.74,"body":"performance of the windows, is double,"},{"speaker":"Ryan Cassidy","startTime":1148.48,"endTime":1152.74,"body":"almost always going to be the double"},{"speaker":"Ryan Cassidy","startTime":1152.74,"endTime":1156.97,"body":"glazing in many cases, depending on, you"},{"speaker":"Ryan Cassidy","startTime":1152.74,"endTime":1156.97,"body":"know, the fenestration of the overall"},{"speaker":"Ryan Cassidy","startTime":1156.97,"endTime":1158.8,"body":"building it's it could be triple glazed."},{"speaker":"Ryan Cassidy","startTime":1159.22,"endTime":1162.921,"body":"And so yeah that helps with both"},{"speaker":"Ryan Cassidy","startTime":1159.22,"endTime":1162.921,"body":"thermal performance, as you mentioned"},{"speaker":"Ryan Cassidy","startTime":1162.951,"endTime":1167.001,"body":"in cities, especially, noise and"},{"speaker":"Ryan Cassidy","startTime":1162.951,"endTime":1167.001,"body":"insulation helps with noise too."},{"speaker":"Ryan Cassidy","startTime":1167.031,"endTime":1171.111,"body":"So if you're recladding your building with"},{"speaker":"Ryan Cassidy","startTime":1167.031,"endTime":1171.111,"body":"a new window in anywhere between four and"},{"speaker":"Ryan Cassidy","startTime":1171.111,"endTime":1175.3110000000001,"body":"six inches of insulation, your apartment's"},{"speaker":"Ryan Cassidy","startTime":1171.111,"endTime":1175.3110000000001,"body":"going to be a whole lot quieter than"},{"speaker":"Ryan Cassidy","startTime":1175.3110000000001,"endTime":1176.5910000000001,"body":"when you started from the outside."},{"speaker":"Tom Raftery","startTime":1177.2910000000002,"endTime":1177.981,"body":"Fantastic."},{"speaker":"Tom Raftery","startTime":1178.191,"endTime":1182.151,"body":"So people in low income housing"},{"speaker":"Tom Raftery","startTime":1178.191,"endTime":1182.151,"body":"are getting lower energy bills."},{"speaker":"Tom Raftery","startTime":1182.391,"endTime":1185.96,"body":"They're getting lower noise,"},{"speaker":"Tom Raftery","startTime":1182.391,"endTime":1185.96,"body":"pollution inside the building."},{"speaker":"Tom Raftery","startTime":1186.3200000000002,"endTime":1189.68,"body":"They're getting fewer"},{"speaker":"Tom Raftery","startTime":1186.3200000000002,"endTime":1189.68,"body":"pasts, higher air quality."},{"speaker":"Tom Raftery","startTime":1190.01,"endTime":1193.5,"body":"it seems like a, and, you know,"},{"speaker":"Tom Raftery","startTime":1190.01,"endTime":1193.5,"body":"re reducing the carbon footprint"},{"speaker":"Tom Raftery","startTime":1193.5,"endTime":1194.28,"body":"of these buildings as well."},{"speaker":"Tom Raftery","startTime":1194.28,"endTime":1195.89,"body":"It seems like a complete win-win-win."},{"speaker":"Ryan Cassidy","startTime":1196.491,"endTime":1196.851,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":1196.851,"endTime":1201.3210000000001,"body":"And it's been, really encouraging to"},{"speaker":"Ryan Cassidy","startTime":1196.851,"endTime":1201.3210000000001,"body":"see the affordable housing industry."},{"speaker":"Ryan Cassidy","startTime":1201.5910000000001,"endTime":1206.626,"body":"Like I said before, really be first in"},{"speaker":"Ryan Cassidy","startTime":1201.5910000000001,"endTime":1206.626,"body":"line for this because of the financial"},{"speaker":"Ryan Cassidy","startTime":1206.626,"endTime":1209.506,"body":"makeup of the buildings where we're"},{"speaker":"Ryan Cassidy","startTime":1206.626,"endTime":1209.506,"body":"not collecting, you know, we've"},{"speaker":"Ryan Cassidy","startTime":1209.506,"endTime":1213.256,"body":"never been able to collect more rent"},{"speaker":"Ryan Cassidy","startTime":1209.506,"endTime":1213.256,"body":"and the cost of energy is going up."},{"speaker":"Ryan Cassidy","startTime":1213.256,"endTime":1218.476,"body":"And so we've been incentivized to take"},{"speaker":"Ryan Cassidy","startTime":1213.256,"endTime":1218.476,"body":"kind of more radical action in the market."},{"speaker":"Ryan Cassidy","startTime":1218.476,"endTime":1222.6200000000001,"body":"And what you end up getting is affordable"},{"speaker":"Ryan Cassidy","startTime":1218.476,"endTime":1222.6200000000001,"body":"housing units that are actually,"},{"speaker":"Ryan Cassidy","startTime":1222.68,"endTime":1224.8600000000001,"body":"healthier, more energy efficient."},{"speaker":"Ryan Cassidy","startTime":1225.13,"endTime":1228.5800000000002,"body":"has more up to date technology in"},{"speaker":"Ryan Cassidy","startTime":1225.13,"endTime":1228.5800000000002,"body":"terms of heating and cooling, then"},{"speaker":"Ryan Cassidy","startTime":1228.5800000000002,"endTime":1229.8400000000001,"body":"you're getting on the market side."},{"speaker":"Ryan Cassidy","startTime":1229.8400000000001,"endTime":1232.18,"body":"And so, that's an exciting place to be."},{"speaker":"Ryan Cassidy","startTime":1232.27,"endTime":1235.7530000000002,"body":"I think both for affordable housing"},{"speaker":"Ryan Cassidy","startTime":1232.27,"endTime":1235.7530000000002,"body":"and for, the environmental piece."},{"speaker":"Tom Raftery","startTime":1236.488,"endTime":1238.8880000000001,"body":"How can we take"},{"speaker":"Tom Raftery","startTime":1236.488,"endTime":1238.8880000000001,"body":"those learnings and move them into"},{"speaker":"Tom Raftery","startTime":1239.218,"endTime":1241.3680000000002,"body":"the rest of the housing market?"},{"speaker":"Ryan Cassidy","startTime":1242.018,"endTime":1243.323,"body":"Yeah, it's"},{"speaker":"Ryan Cassidy","startTime":1242.018,"endTime":1243.323,"body":"going to be difficult."},{"speaker":"Ryan Cassidy","startTime":1243.323,"endTime":1247.0130000000001,"body":"I mean, there's certainly one of the"},{"speaker":"Ryan Cassidy","startTime":1243.323,"endTime":1247.0130000000001,"body":"advantages that affordable housing has"},{"speaker":"Ryan Cassidy","startTime":1247.0130000000001,"endTime":1251.2430000000002,"body":"is that, as I said before, you can,"},{"speaker":"Ryan Cassidy","startTime":1247.0130000000001,"endTime":1251.2430000000002,"body":"the existing architecture of affordable"},{"speaker":"Ryan Cassidy","startTime":1251.2430000000002,"endTime":1255.683,"body":"housing, isn't really anything that,"},{"speaker":"Ryan Cassidy","startTime":1251.2430000000002,"endTime":1255.683,"body":"that you would need to preserve."},{"speaker":"Ryan Cassidy","startTime":1255.683,"endTime":1259.343,"body":"So recladding a building is a really"},{"speaker":"Ryan Cassidy","startTime":1255.683,"endTime":1259.343,"body":"great aesthetic option, you know, as"},{"speaker":"Ryan Cassidy","startTime":1259.343,"endTime":1264.258,"body":"you get into other building typologies,"},{"speaker":"Ryan Cassidy","startTime":1259.343,"endTime":1264.258,"body":"whether they're historic or, steel"},{"speaker":"Ryan Cassidy","startTime":1264.258,"endTime":1265.818,"body":"and glass towers and things like that."},{"speaker":"Ryan Cassidy","startTime":1265.818,"endTime":1271.9550000000002,"body":"Or you get into some deeper challenges,"},{"speaker":"Ryan Cassidy","startTime":1265.818,"endTime":1271.9550000000002,"body":"but still a huge, component and supply"},{"speaker":"Ryan Cassidy","startTime":1272.2250000000001,"endTime":1278.258,"body":"of existing housing units are these like"},{"speaker":"Ryan Cassidy","startTime":1272.2250000000001,"endTime":1278.258,"body":"four 12 story, mass apartment buildings"},{"speaker":"Ryan Cassidy","startTime":1278.258,"endTime":1281.54,"body":"and all of those, all the learnings"},{"speaker":"Ryan Cassidy","startTime":1278.258,"endTime":1281.54,"body":"that we're getting from these affordable"},{"speaker":"Ryan Cassidy","startTime":1281.54,"endTime":1284.9270000000001,"body":"housing buildings can be transferred"},{"speaker":"Ryan Cassidy","startTime":1281.54,"endTime":1284.9270000000001,"body":"over to these types of buildings."},{"speaker":"Ryan Cassidy","startTime":1284.9270000000001,"endTime":1289.346,"body":"So it's a good opportunity for a pretty"},{"speaker":"Ryan Cassidy","startTime":1284.9270000000001,"endTime":1289.346,"body":"wide swath of, market rate buildings."},{"speaker":"Ryan Cassidy","startTime":1289.766,"endTime":1294.116,"body":"And then I think it's going to come"},{"speaker":"Ryan Cassidy","startTime":1289.766,"endTime":1294.116,"body":"down to really getting one capital"},{"speaker":"Ryan Cassidy","startTime":1294.1760000000002,"endTime":1298.505,"body":"aligned for, you know, these bigger"},{"speaker":"Ryan Cassidy","startTime":1294.1760000000002,"endTime":1298.505,"body":"capital budgets, and then ultimately"},{"speaker":"Ryan Cassidy","startTime":1299.383,"endTime":1303.0130000000001,"body":"the market doesn't move unless there's"},{"speaker":"Ryan Cassidy","startTime":1299.383,"endTime":1303.0130000000001,"body":"a pretty good stick to compel them to."},{"speaker":"Ryan Cassidy","startTime":1303.0130000000001,"endTime":1307.353,"body":"And so that's where all of"},{"speaker":"Ryan Cassidy","startTime":1303.0130000000001,"endTime":1307.353,"body":"these, uh, local laws come in,"},{"speaker":"Ryan Cassidy","startTime":1307.443,"endTime":1310.863,"body":"that are both, measuring your"},{"speaker":"Ryan Cassidy","startTime":1307.443,"endTime":1310.863,"body":"building energy, use, grading your"},{"speaker":"Ryan Cassidy","startTime":1310.863,"endTime":1314.4930000000002,"body":"building, and then subsequently,"},{"speaker":"Ryan Cassidy","startTime":1310.863,"endTime":1314.4930000000002,"body":"fining buildings for performance."},{"speaker":"Ryan Cassidy","startTime":1314.7930000000001,"endTime":1318.0030000000002,"body":"And so those, the good news is,"},{"speaker":"Ryan Cassidy","startTime":1314.7930000000001,"endTime":1318.0030000000002,"body":"is all those things are in place."},{"speaker":"Ryan Cassidy","startTime":1318.333,"endTime":1319.563,"body":"They're all fairly new."},{"speaker":"Ryan Cassidy","startTime":1319.7730000000001,"endTime":1324.746,"body":"And so over the next, five to 20 years"},{"speaker":"Ryan Cassidy","startTime":1319.7730000000001,"endTime":1324.746,"body":"as building owners start to feel some"},{"speaker":"Ryan Cassidy","startTime":1324.746,"endTime":1329.115,"body":"of the pain that's when we expect, some"},{"speaker":"Ryan Cassidy","startTime":1324.746,"endTime":1329.115,"body":"of those, market changes to take place."},{"speaker":"Tom Raftery","startTime":1329.775,"endTime":1331.605,"body":"And how do we move"},{"speaker":"Tom Raftery","startTime":1329.775,"endTime":1331.605,"body":"it outside of just New York?"},{"speaker":"Ryan Cassidy","startTime":1332.4180000000001,"endTime":1332.6280000000002,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":1332.6280000000002,"endTime":1333.858,"body":"That's a great question."},{"speaker":"Ryan Cassidy","startTime":1333.858,"endTime":1337.1280000000002,"body":"So New York, as I said earlier,"},{"speaker":"Ryan Cassidy","startTime":1333.858,"endTime":1337.1280000000002,"body":"really didn't have any kind of"},{"speaker":"Ryan Cassidy","startTime":1337.1280000000002,"endTime":1342.708,"body":"energy policy, even, 10 years ago,"},{"speaker":"Ryan Cassidy","startTime":1337.1280000000002,"endTime":1342.708,"body":"you know, and we were way behind."},{"speaker":"Ryan Cassidy","startTime":1342.708,"endTime":1347.6580000000001,"body":"We had building code There wasn't a major"},{"speaker":"Ryan Cassidy","startTime":1342.708,"endTime":1347.6580000000001,"body":"overhaul of the building code until 2010."},{"speaker":"Ryan Cassidy","startTime":1347.6580000000001,"endTime":1350.358,"body":"And so we were working"},{"speaker":"Ryan Cassidy","startTime":1347.6580000000001,"endTime":1350.358,"body":"on a 1968 building code."},{"speaker":"Ryan Cassidy","startTime":1350.748,"endTime":1355.0030000000002,"body":"So it's a, it's a pathway"},{"speaker":"Ryan Cassidy","startTime":1350.748,"endTime":1355.0030000000002,"body":"for municipalities to take"},{"speaker":"Ryan Cassidy","startTime":1355.063,"endTime":1357.403,"body":"that really didn't exist."},{"speaker":"Ryan Cassidy","startTime":1357.403,"endTime":1360.373,"body":"And so a lot of work went in from NYSERDA."},{"speaker":"Ryan Cassidy","startTime":1360.403,"endTime":1364.9930000000002,"body":"Who's the New York state energy research"},{"speaker":"Ryan Cassidy","startTime":1360.403,"endTime":1364.9930000000002,"body":"and development authority that really"},{"speaker":"Ryan Cassidy","startTime":1364.9930000000002,"endTime":1367.153,"body":"helped, build the case with data."},{"speaker":"Ryan Cassidy","startTime":1367.153,"endTime":1370.723,"body":"And with case studies that this"},{"speaker":"Ryan Cassidy","startTime":1367.153,"endTime":1370.723,"body":"was feasible and we had some good"},{"speaker":"Ryan Cassidy","startTime":1370.723,"endTime":1374.713,"body":"political leadership, both, in New"},{"speaker":"Ryan Cassidy","startTime":1370.723,"endTime":1374.713,"body":"York city, to get this done because,"},{"speaker":"Ryan Cassidy","startTime":1374.713,"endTime":1378.163,"body":"you know, as New York city goes"},{"speaker":"Ryan Cassidy","startTime":1374.713,"endTime":1378.163,"body":"with some of these housing policies,"},{"speaker":"Ryan Cassidy","startTime":1378.163,"endTime":1379.5130000000001,"body":"the rest of the state can follow."},{"speaker":"Ryan Cassidy","startTime":1379.903,"endTime":1383.803,"body":"And so it's, it's been transformed"},{"speaker":"Ryan Cassidy","startTime":1379.903,"endTime":1383.803,"body":"over the past five to 10 years."},{"speaker":"Ryan Cassidy","startTime":1383.803,"endTime":1387.913,"body":"And so if there's people out there that"},{"speaker":"Ryan Cassidy","startTime":1383.803,"endTime":1387.913,"body":"you know, are in other states or, or"},{"speaker":"Ryan Cassidy","startTime":1387.913,"endTime":1392.173,"body":"places that don't have good energy codes"},{"speaker":"Ryan Cassidy","startTime":1387.913,"endTime":1392.173,"body":"are not existing energy codes, this is"},{"speaker":"Ryan Cassidy","startTime":1392.323,"endTime":1396.573,"body":"potentially a roadmap, for those places"},{"speaker":"Ryan Cassidy","startTime":1392.323,"endTime":1396.573,"body":"to follow, these types of systems."},{"speaker":"Ryan Cassidy","startTime":1396.573,"endTime":1401.188,"body":"And there's been a lot of political"},{"speaker":"Ryan Cassidy","startTime":1396.573,"endTime":1401.188,"body":"willpower there, on the building side,"},{"speaker":"Ryan Cassidy","startTime":1401.188,"endTime":1405.298,"body":"and then also on the utility side to"},{"speaker":"Ryan Cassidy","startTime":1401.188,"endTime":1405.298,"body":"switch off of fossil fuels, whether"},{"speaker":"Ryan Cassidy","startTime":1405.298,"endTime":1409.3780000000002,"body":"it's, you know, removing natural"},{"speaker":"Ryan Cassidy","startTime":1405.298,"endTime":1409.3780000000002,"body":"gas or adding solar, adding winds,"},{"speaker":"Ryan Cassidy","startTime":1409.3780000000002,"endTime":1413.038,"body":"all these things that are grabbing"},{"speaker":"Ryan Cassidy","startTime":1409.3780000000002,"endTime":1413.038,"body":"headlines are all ways to replace some"},{"speaker":"Ryan Cassidy","startTime":1413.038,"endTime":1415.288,"body":"of the, uh, the natural gas usage."},{"speaker":"Ryan Cassidy","startTime":1415.348,"endTime":1418.498,"body":"Because ultimately, you know, we we're"},{"speaker":"Ryan Cassidy","startTime":1415.348,"endTime":1418.498,"body":"doing what we have to do on the end use,"},{"speaker":"Ryan Cassidy","startTime":1418.798,"endTime":1422.496,"body":"but if we're switching all these buildings"},{"speaker":"Ryan Cassidy","startTime":1418.798,"endTime":1422.496,"body":"from natural gas to electricity, of"},{"speaker":"Ryan Cassidy","startTime":1422.496,"endTime":1424.506,"body":"course we need new sources of electricity."},{"speaker":"Ryan Cassidy","startTime":1424.506,"endTime":1429.076,"body":"So, the states been working pretty hard"},{"speaker":"Ryan Cassidy","startTime":1424.506,"endTime":1429.076,"body":"to, to work both sides of that equation."},{"speaker":"Tom Raftery","startTime":1429.646,"endTime":1433.396,"body":"Superb superb Ryan, we're"},{"speaker":"Tom Raftery","startTime":1429.646,"endTime":1433.396,"body":"coming towards the end of the podcast now."},{"speaker":"Tom Raftery","startTime":1433.396,"endTime":1438.906,"body":"Is there any question I didn't ask that"},{"speaker":"Tom Raftery","startTime":1433.396,"endTime":1438.906,"body":"you wish I did, or any aspect of this"},{"speaker":"Tom Raftery","startTime":1438.906,"endTime":1441.996,"body":"we haven't mentioned that you think it's"},{"speaker":"Tom Raftery","startTime":1438.906,"endTime":1441.996,"body":"important for people to be aware of?"},{"speaker":"Ryan Cassidy","startTime":1444.1960000000001,"endTime":1444.4160000000002,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":1444.4160000000002,"endTime":1448.161,"body":"Well, we talked about the, health"},{"speaker":"Ryan Cassidy","startTime":1444.4160000000002,"endTime":1448.161,"body":"of the, tenants, in our buildings."},{"speaker":"Ryan Cassidy","startTime":1448.2050000000002,"endTime":1453.905,"body":"it's most interesting to us at Riseboro"},{"speaker":"Ryan Cassidy","startTime":1448.2050000000002,"endTime":1453.905,"body":"how we can kind of blend this housing"},{"speaker":"Ryan Cassidy","startTime":1453.9850000000001,"endTime":1459.055,"body":"approach kind of our housing plus model"},{"speaker":"Ryan Cassidy","startTime":1453.9850000000001,"endTime":1459.055,"body":"of providing a good affordable housing"},{"speaker":"Ryan Cassidy","startTime":1459.055,"endTime":1462.385,"body":"to people so that they can thrive in"},{"speaker":"Ryan Cassidy","startTime":1459.055,"endTime":1462.385,"body":"their communities and do all these other"},{"speaker":"Ryan Cassidy","startTime":1462.385,"endTime":1465.865,"body":"things that they want to do because people"},{"speaker":"Ryan Cassidy","startTime":1462.385,"endTime":1465.865,"body":"don't want to think about, you know,"},{"speaker":"Ryan Cassidy","startTime":1465.865,"endTime":1467.545,"body":"their energy consumption of their house."},{"speaker":"Ryan Cassidy","startTime":1467.575,"endTime":1469.7050000000002,"body":"Does it need to be like a"},{"speaker":"Ryan Cassidy","startTime":1467.575,"endTime":1469.7050000000002,"body":"main point of their life?"},{"speaker":"Ryan Cassidy","startTime":1470.035,"endTime":1475.47,"body":"So when we do that, you know, in"},{"speaker":"Ryan Cassidy","startTime":1470.035,"endTime":1475.47,"body":"thinking about tenant health, Get more"},{"speaker":"Ryan Cassidy","startTime":1475.47,"endTime":1478.02,"body":"creative around, uh, financing models."},{"speaker":"Ryan Cassidy","startTime":1478.02,"endTime":1480.3,"body":"And that might mean bringing in."},{"speaker":"Ryan Cassidy","startTime":1480.3,"endTime":1484.26,"body":"If we're getting healthier buildings and"},{"speaker":"Ryan Cassidy","startTime":1480.3,"endTime":1484.26,"body":"people are having, less asthma attacks"},{"speaker":"Ryan Cassidy","startTime":1484.26,"endTime":1488.49,"body":"or going to emergency rooms less for"},{"speaker":"Ryan Cassidy","startTime":1484.26,"endTime":1488.49,"body":"breathing issues or leading healthier"},{"speaker":"Ryan Cassidy","startTime":1488.49,"endTime":1490.66,"body":"lives because of their buildings."},{"speaker":"Ryan Cassidy","startTime":1491.035,"endTime":1494.968,"body":"That's something we want to try to"},{"speaker":"Ryan Cassidy","startTime":1491.035,"endTime":1494.968,"body":"translate into capital opportunities."},{"speaker":"Ryan Cassidy","startTime":1494.968,"endTime":1499.798,"body":"So whether that's, you know, getting"},{"speaker":"Ryan Cassidy","startTime":1494.968,"endTime":1499.798,"body":"Medicare involved with helping to"},{"speaker":"Ryan Cassidy","startTime":1499.828,"endTime":1503.758,"body":"finance buildings like this, whether it's"},{"speaker":"Ryan Cassidy","startTime":1499.828,"endTime":1503.758,"body":"getting insurance companies to realize."},{"speaker":"Ryan Cassidy","startTime":1504.5030000000002,"endTime":1507.863,"body":"that these buildings are, are"},{"speaker":"Ryan Cassidy","startTime":1504.5030000000002,"endTime":1507.863,"body":"more efficient and, resilient."},{"speaker":"Ryan Cassidy","startTime":1508.103,"endTime":1509.5130000000001,"body":"So we didn't, we didn't talk about that."},{"speaker":"Ryan Cassidy","startTime":1509.5130000000001,"endTime":1513.2630000000001,"body":"And that's kind of like in cases of"},{"speaker":"Ryan Cassidy","startTime":1509.5130000000001,"endTime":1513.2630000000001,"body":"power outages or other issues, people"},{"speaker":"Ryan Cassidy","startTime":1513.2630000000001,"endTime":1516.443,"body":"can shelter in place because the"},{"speaker":"Ryan Cassidy","startTime":1513.2630000000001,"endTime":1516.443,"body":"buildings are so efficient, they retain"},{"speaker":"Ryan Cassidy","startTime":1516.7430000000002,"endTime":1520.2430000000002,"body":"so much of their, their heat in the,"},{"speaker":"Ryan Cassidy","startTime":1516.7430000000002,"endTime":1520.2430000000002,"body":"winter, and they're cool in the summer."},{"speaker":"Ryan Cassidy","startTime":1520.7530000000002,"endTime":1523.813,"body":"And so kind of being more creative"},{"speaker":"Ryan Cassidy","startTime":1520.7530000000002,"endTime":1523.813,"body":"around financing methods and bringing"},{"speaker":"Ryan Cassidy","startTime":1523.813,"endTime":1528.1100000000001,"body":"more, financial tools to bear on"},{"speaker":"Ryan Cassidy","startTime":1523.813,"endTime":1528.1100000000001,"body":"these types of projects than just"},{"speaker":"Ryan Cassidy","startTime":1528.1100000000001,"endTime":1530.865,"body":"the typical, uh, housing finance."},{"speaker":"Ryan Cassidy","startTime":1530.865,"endTime":1534.105,"body":"So, you know, looking towards"},{"speaker":"Ryan Cassidy","startTime":1530.865,"endTime":1534.105,"body":"insurance companies and healthcare"},{"speaker":"Ryan Cassidy","startTime":1534.105,"endTime":1538.8780000000002,"body":"industry to recognize the benefits"},{"speaker":"Ryan Cassidy","startTime":1534.105,"endTime":1538.8780000000002,"body":"of, energy efficient housing and"},{"speaker":"Ryan Cassidy","startTime":1538.8780000000002,"endTime":1540.828,"body":"in these benefits go beyond energy."},{"speaker":"Ryan Cassidy","startTime":1540.8880000000001,"endTime":1544.808,"body":"And so I think that's, what's interesting"},{"speaker":"Ryan Cassidy","startTime":1540.8880000000001,"endTime":1544.808,"body":"is how to do that in the future in intake,"},{"speaker":"Ryan Cassidy","startTime":1545.228,"endTime":1549.848,"body":"take some of these, uh, advantages and"},{"speaker":"Ryan Cassidy","startTime":1545.228,"endTime":1549.848,"body":"try to build out a better, capital base,"},{"speaker":"Ryan Cassidy","startTime":1550.058,"endTime":1551.578,"body":"to finance these types of projects."},{"speaker":"Tom Raftery","startTime":1552.088,"endTime":1553.058,"body":"Cool, cool."},{"speaker":"Tom Raftery","startTime":1553.093,"endTime":1553.333,"body":"cool."},{"speaker":"Tom Raftery","startTime":1553.363,"endTime":1555.343,"body":"Really interesting Ryan,"},{"speaker":"Tom Raftery","startTime":1553.363,"endTime":1555.343,"body":"that has been fascinating."},{"speaker":"Tom Raftery","startTime":1555.363,"endTime":1557.193,"body":"Thanks a million for coming"},{"speaker":"Tom Raftery","startTime":1555.363,"endTime":1557.193,"body":"on the podcast today."},{"speaker":"Tom Raftery","startTime":1557.193,"endTime":1561.483,"body":"If people want to know more about"},{"speaker":"Tom Raftery","startTime":1557.193,"endTime":1561.483,"body":"yourself, Ryan Cassidy, or about"},{"speaker":"Tom Raftery","startTime":1561.483,"endTime":1564.5430000000001,"body":"Riseboro or any of the things we"},{"speaker":"Tom Raftery","startTime":1561.483,"endTime":1564.5430000000001,"body":"talked about on the podcast today,"},{"speaker":"Tom Raftery","startTime":1564.9930000000002,"endTime":1566.103,"body":"where would you have me direct them?."},{"speaker":"Ryan Cassidy","startTime":1566.866,"endTime":1567.761,"body":"Well, thanks for having me."},{"speaker":"Ryan Cassidy","startTime":1567.761,"endTime":1567.941,"body":"Yeah."},{"speaker":"Ryan Cassidy","startTime":1567.941,"endTime":1570.401,"body":"You can go to, uh, riseborough.org."},{"speaker":"Ryan Cassidy","startTime":1570.461,"endTime":1574.121,"body":"It's R I S E B O R o.org."},{"speaker":"Ryan Cassidy","startTime":1574.151,"endTime":1575.771,"body":"And see what we do."},{"speaker":"Ryan Cassidy","startTime":1575.771,"endTime":1578.0510000000002,"body":"It's, it's much more than"},{"speaker":"Ryan Cassidy","startTime":1575.771,"endTime":1578.0510000000002,"body":"housing, but like I said, it's"},{"speaker":"Ryan Cassidy","startTime":1578.0510000000002,"endTime":1579.7910000000002,"body":"sort of a housing plus model."},{"speaker":"Ryan Cassidy","startTime":1580.241,"endTime":1582.5510000000002,"body":"And I'm happy to join you today."},{"speaker":"Ryan Cassidy","startTime":1582.5510000000002,"endTime":1586.068,"body":"And I hope, for more, uh, really"},{"speaker":"Ryan Cassidy","startTime":1582.5510000000002,"endTime":1586.068,"body":"great outcomes, both in New York"},{"speaker":"Ryan Cassidy","startTime":1586.068,"endTime":1589.7450000000001,"body":"and then beyond New York, as we,"},{"speaker":"Ryan Cassidy","startTime":1586.068,"endTime":1589.7450000000001,"body":"push these deep energy retrofits."},{"speaker":"Tom Raftery","startTime":1590.085,"endTime":1591.255,"body":"Fantastic Ryan."},{"speaker":"Tom Raftery","startTime":1591.255,"endTime":1592.7250000000001,"body":"Thanks a million for coming"},{"speaker":"Tom Raftery","startTime":1591.255,"endTime":1592.7250000000001,"body":"on the podcast today."},{"speaker":"Ryan Cassidy","startTime":1593.8600000000001,"endTime":1594.16,"body":"All right."},{"speaker":"Ryan Cassidy","startTime":1594.19,"endTime":1595.03,"body":"Thanks for having me, Tom."},{"speaker":"Tom Raftery","startTime":1596.1770000000001,"endTime":1597.9170000000001,"body":"Okay, we've"},{"speaker":"Tom Raftery","startTime":1596.1770000000001,"endTime":1597.9170000000001,"body":"come to the end of the show."},{"speaker":"Tom Raftery","startTime":1598.277,"endTime":1599.357,"body":"Thanks everyone for listening."},{"speaker":"Tom Raftery","startTime":1600.047,"endTime":1603.587,"body":"If you'd like to know more about"},{"speaker":"Tom Raftery","startTime":1600.047,"endTime":1603.587,"body":"Climate 21, feel free to drop me an"},{"speaker":"Tom Raftery","startTime":1603.587,"endTime":1608.6870000000001,"body":"email to Tom dot Raftery @ sap.com or"},{"speaker":"Tom Raftery","startTime":1603.587,"endTime":1608.6870000000001,"body":"connect with me on LinkedIn or Twitter."},{"speaker":"Tom Raftery","startTime":1609.497,"endTime":1612.047,"body":"If you liked the show, please don't"},{"speaker":"Tom Raftery","startTime":1609.497,"endTime":1612.047,"body":"forget to subscribe to it in your"},{"speaker":"Tom Raftery","startTime":1612.047,"endTime":1616.037,"body":"podcast application of choice to get new"},{"speaker":"Tom Raftery","startTime":1612.047,"endTime":1616.037,"body":"episodes as soon as they're published."},{"speaker":"Tom Raftery","startTime":1616.6970000000001,"endTime":1619.9070000000002,"body":"Also, please don't forget to"},{"speaker":"Tom Raftery","startTime":1616.6970000000001,"endTime":1619.9070000000002,"body":"rate and review the podcast."},{"speaker":"Tom Raftery","startTime":1619.9070000000002,"endTime":1622.727,"body":"It really does help new"},{"speaker":"Tom Raftery","startTime":1619.9070000000002,"endTime":1622.727,"body":"people to find the show."},{"speaker":"Tom Raftery","startTime":1623.537,"endTime":1625.807,"body":"Thanks catch you all next time."}]}