Overview
Dominium has partnered with ION Water since 2014, with ION’s End-to-End Water Management System currently deployed across 22K units in 102 properties.
In 2021 Dominium identified Crossings at Cape Coral as an acquisition target and asked ION to perform a water optimization assessment. ION identified significant opportunities for water use and cost savings. Following Dominium’s acquisition of the property in 2022, Dominium implemented ION’s End-to-End Water Management System in the 170 unit property.
Dominium’s Key Opportunities at Crossings at Cape Coral
- Assessment identified excessive water use at 110 gallons per bedroom per day (GBD), with an opportunity to reduce consumption by more than 65 GBD (over 9 million gallons annually)
- Assessment revealed significant untapped asset value through the potential to increase NOI by lowering water utility expenses
Opportunity Capture
- Rapid identification and correction of invisible water leaks stabilized water performance within 60 days
- 65% reduction in water consumption stabilized water use at 38 GBD
Results & Impact
- $16,000 in monthly savings ($192,000 annually)
- More than 10 million gallons of water conserved each year
- Approximate $3M increase in asset value
