Insights from the 2024 Harrison Street ESG Conference

For the second consecutive year, Oppidan attended the Harrison Street Environmental Social and Governance (ESG) Conference, with Jamie Korzan, VP of Investment Relations, and Joe Hughes, VP of Construction, representing the company. This annual event gathers industry leaders from across asset classes and international markets to collaborate, share ESG best practices, and set new standards in sustainable development.

Key takeaways from the event:

Building Collaborative Awareness and Industry Participation

A notable theme throughout the conference was the amplified focus on industry-wide collaboration. Connecting with groups and presenters from prior conferences underscored the value of consistent dialogue within the ESG sphere, as continuous learning strengthens industry resilience and innovation.

Peer-Led Discussions on ESG Goal-Setting

The conference’s round table discussions were among the most valuable sessions. These small-group settings provided a forum for attendees to engage in candid conversations about setting, pursuing, and refining internal ESG goals. Learning from peers about their own challenges and triumphs in establishing these goals gave actionable insights.

Trends in Energy Modeling and Decarbonization

The conference highlighted two significant trends: early-stage energy modeling and net zero/decarbonization initiatives. Early energy modeling allows companies to assess energy use and identify opportunities for efficiency from the outset of design, an approach that aligns well with Oppidan’s philosophy. As ESG expectations grow, so does the industry’s commitment to achieving net-zero emissions, with decarbonization emerging as a key objective for the coming years.

Addressing the Cost Justification Challenge

One of the primary challenges facing the industry is the difficulty in justifying the costs of sustainable design. ESG initiatives often require upfront investment, and demonstrating tangible returns can be challenging. However, the long-term benefits of sustainable development—such as energy savings, enhanced brand reputation, and resilience against regulatory risks—justify the investment. Oppidan is committed to navigating this challenge by refining cost-benefit analyses and enhancing transparency with stakeholders on the value of ESG investments.

Oppidan’s ESG Initiatives in Action

Oppidan’s commitment to ESG is not theoretical—it’s evident in our projects across the country:

• The Pillars of Prospect Park: Located near the University of Minnesota, this award-winning intergenerational program creates meaningful connections between residents of all ages. The onsite daycare offers ample opportunities for multiple generations to play and learn together. Unique to this location, college students live on-site through our Student Residency Housing Program. These students volunteer with older residents through activities like art classes and Ted Talk-inspired discussions. Together we are fostering social connectedness and reducing isolation, creating a vibrant community.
• The Pillars of Lakeville: At this intergenerational senior living community, residents connect with children from an adjacent K-8 school. Activities range from shared art projects and music classes to birthday celebrations and choir performances, creating bonds that enhance quality of life for all participants.
• The Hacienda Mission San Luis Rey: Our renewable energy project at this senior housing community in California features 420 kW of solar panels that provide 22% of the site’s electricity. This innovative project aligns with decarbonization goals and delivers significant financial benefits, including $100,000 in annual NOI impact and a $1.7 million boost in asset valuation.

Looking Forward

As the ESG landscape evolves, Oppidan remains at the forefront of sustainable development. Whether through intergenerational programming or renewable energy, we’re committed to creating lasting value for residents, communities, and stakeholders. Together, we’re building a more sustainable and inclusive future.