GreenSpot Real Estate now has a spot of green to call its own.
The brokerage founded by Melissa Baldridge and Tracye Herrington in 2010 is expanding from a rented space in North Capitol Hill to a triangle-shaped building in Five Points, which dates back to 1887.
GreenSpot purchased the corner property two blocks east of the Welton Street corridor for $280,000 at the end of 2016, according to Denver property records.
As construction crews started renovating this week, Baldridge said the company has budgeted about $140,000 to remodel. Her goal is to gut the 19th-century building and turn it into an office that can retain and even generate as much energy as possible.
“When you’re making an existing property really high efficient, the box itself has to be really efficient,” said Baldridge. “This is an older building that has great bones and we can transform it.”
Plans for 1001 E. 26th Ave., designed by architecture firm Acme Workshop and to be constructed by Mendel and Co. Construction, call for solar panels and new heating and cooling systems.
The renovated building also will have its own dashboard, where visitors can see how much energy the 1,870-square-foot space is generating at any given time.
Working on energy-efficient and eco-friendly properties has become an important niche for GreenSpot, which has a dozen brokers. In addition to holding a real estate license, Baldridge has passed exams to certify when new construction and remodels qualify for standards like LEED.
Sometimes Baldridge meets with developers early in a project, pointing out pitfalls that might keep them from getting a certain certification and suggesting alternatives. Her advice can sometimes get granular, she said: Your insulation should be more like this, or your solar panels should be more like that.
Baldridge also can do the final certification–walking the property to take photos of construction, and collecting signatures and documentation to prove compliance.
On the brokerage side of the business, GreenSpot sometimes turns around to lease or sell properties it certifies. Such was the case at Clarkson Green, a single-family row house development in Five Points that Baldridge says GreenSpot helped certify as well as market.
GreenSpot doesn’t limit itself to showing energy-efficient homes. Baldridge declined to discuss revenue figures, but estimates at least half of business involves working with conventional properties.
But energy efficient expertise can be an advantage for GreenSpot brokers, she said. GreenSpot’s dozen brokers can tell prospective homebuyers and renters exactly how energy efficient their future home will be.
“One of the things I do is take our brokers out on inspections,” said Baldridge, “so that they know exactly why a home is EnergyStar, why it’s LEED, why it’s better.”