New York City property managers who fail to tackle carbon in buildings could collectively face fines of more than US $300 million every year under New York City’s Local Law 97 (LL97). That is according to Daisy, a tech company working with condo and co-op owners to understand the impact of New York City’s carbon cap, which will hit more than 50,000 buildings with a footprint of 25,000 square feet or greater from 2030.
Launching the Carbon Curve – a calculator that uses available data from the city’s Department of Buildings, Daisy can predict a building’s specific emissions in 2030 and calculate fines if no action is taken. In effect, it provides a clear and visual forecast that helps boards and owners take control of compliance plans before the penalties kick in: “Building boards can’t afford to guess,” said Yotam Cohen, CEO and Co-Founder of Daisy. “Carbon Curve lets them see exactly what’s coming if they don’t act—and more importantly, it gives them the time to change the outcome.”
Why LL97 is Mass Timber’s big break in the Big Apple
According to Swinerton, one of the United States’ largest contractors, the law could be timber’s best chance to tap into a condo market traditionally dominated by steel and concrete. Swinerton – which owns Timberlab, one of the country’s largest mass timber fabricators – said LL97, combined with recent changes to the building code (allowing cross-laminated timber in Type IV buildings up to seven stories), could be the game changer for developers to use more timber in NYC:
“Swinerton has not only incorporated mass timber into new construction but also into tenant buildouts and renovations,” said Andrew Pearl, Swinerton’s Vice President and Division Manager at its New York Office. “(And that’s because) The material is well-suited for everything from office and residential to public buildings.”
- To learn more about the development of mass timber construction in New York City, click here for Wood Central’s special feature.
