Pennrose Partners With ION to Reduce Water Consumption, Enhance Sustainability Efforts
LOUISVILLE, KY — Oct. 17, 2023 — ION today announced that Pennrose is using its water optimization platform to reduce water consumption, improve its sustainability efforts and cut costs across its affordable housing portfolio.
“This partnership aligns with our commitment to providing high-quality, sustainable, and affordable housing to residents across the U.S.,” said Mark H. Dambly, CEO, Pennrose. “ION’s water optimization platform will help us to reduce water consumption and cut costs, allowing us to reinvest savings into our communities. This will enable us to further deliver on our commitments to residents while adding value to our portfolio.”
The affordable housing industry wastes over 200 billion gallons of water annually, depriving the market of over $3B in annual operating income. This waste also generates 500,000 tons of excess carbon emissions every year.
ION’s water optimization platform will help Pennrose improve water efficiencies by identifying and analyzing unit-level water events, pinpointing malfunctions and generating automated work orders to stop water loss before it impacts a property’s operating income. ION can help reduce water consumption and monthly water bills by as much as 70%.
“We’re thrilled to help Pennrose conserve water and experience significant financial savings that can be reallocated for property improvements,” said Jack Howell, President and Senior Managing Partner, ION. “Together, we will make a meaningful difference in water conservation while reducing costs.”
For more information about ION, visit www.ionwater.io. For more information about Pennrose, visit www.pennrose.com.
About ION
ION enables affordable owners and developers to conserve water and reduce expenses by providing actionable water data. Its water optimization platform helps clients reduce water consumption and costs by as much as 70% compared to industry averages. Developers can reinvest savings into properties to improve residents’ quality of life, and lower and more reliable utility costs can dramatically improve net operating income (NOI). For more information, visit www.ionwater.io.
About Pennrose
With over 50 years of experience, Pennrose combines quality development and proven management to deliver exceptional lifestyle-centered communities for its residents. With the superior knowledge and unparalleled dedication to get the job done right, Pennrose develops and operates conventional, affordable, mixed-income, and mixed-use communities throughout the United States. For more information visit www.pennrose.com.
