AvalonBay Communities, Parity Partnership Achieves +$540,000 in Savings & Reduces CO2 Emissions by More Than 1,000 Tons

AvalonBay Communities, Inc., in partnership with remote HVAC optimization company Parity, released a new video case study showcasing the success of its collaboration.

The partnership, which began with a pilot program in three Midtown Manhattan communities, has expanded to comprise the majority of AvalonBay's New York City portfolio. The initiative has already achieved more than $540,000 in savings while reducing CO2 emissions by in excess of 1,000 tons—demonstrating AvalonBay's commitment to operational efficiency and environmental stewardship without compromising resident comfort.

"Here in New York we have these older, brick facade, steam, central plant systems, and it's a big challenge to keep those systems running efficiently," said Alex Heckman, Senior Director, Engineering East for AvalonBay. "These properties are large, high occupancy, and energy intensive. A software-based approach to savings made a lot more sense than hardware overhauls."

In addition to direct cost savings and carbon emission reductions, AvalonBay estimates that Parity's platform has resulted in an additional $290,000 in Local Law 97 fine mitigations and $30,000 in demand response revenue.

"We still want to reduce energy consumption, but we can do that in a way that doesn't sacrifice tenant comfort," said Ryan Younis, former Senior Manager, Sustainability & Decarbonization at AvalonBay. "One huge benefit of Parity is the continuous and sustained improvement of the building operations. We expect the buildings to get better and better and be more efficient."

The platform has also improved operations for AvalonBay's engineering and maintenance teams. By providing real-time updates on HVAC system issues, teams can resolve problems before a resident reaches out, or a work order is received.

AvalonBay aims to meet or exceed the decarbonization requirements set by New York City by 2030. "Parity's main goal is HVAC optimization, but I see it as the full package to [decarbonize] our existing portfolio," said Younis.

"We are exceptionally proud of what we have accomplished with AvalonBay," said Brad Pilgrim, CEO of Parity. "As our partnership expands, we are confident that we can continue to deliver significant savings in terms of both dollars and emissions without compromising tenant comfort or satisfaction."

The company is currently utilizing Parity's platform in 10 communities in Manhattan, with four Brooklyn communities and two Boston properties coming online in 2026. Additional partnerships in Washington, D.C. are also on the horizon.

"Parity's impact has been clear, and we see even greater potential ahead," said Michael Simpson, Senior Regional Maintenance Director with AvalonBay. "As AvalonBay looks to the future, this partnership is helping us reimagine what sustainable living means for our portfolio of communities, our residents, and our teams."