Apartment and townhouse developer RangeWater Real Estate plans to add electric vehicle charging stations at 14 properties in Atlanta, the Dallas-Fort Worth and other U.S. markets as motorists increasingly move away from gas-powered cars.
RangeWater is contracting EnviroSpark Energy Solutions to install and manage 130 charging stations at some of its existing and under-construction multifamily properties in six states. Financial terms of the deal weren’t disclosed.
Commercial real estate developers and investors are adding EV charging stations at all types of property as they increasingly become a standard feature. Retailers including Ikea, truck stop chains such as TravelCenters of America and office building investors are all adding EV chargers to properties.
But EV owners often prefer the convenience of charging up at home instead of trying to find a public station where options might be limited when their battery is running low.
EnviroSpark will front the capital for installation costs at the RangeWater properties and recoup its investment over time, a company spokeswoman told CoStar News. EnviroSpark’s installation costs run between $8,000 and $12,000 per charging station, she said. Residents using the chargers will pay a fee.
EnviroSpark will deploy Level 1, Level 2 and Level 3 chargers made by Taiwanese company Zerova Technologies, according to a RangeWater spokeswoman. The companies did not identify which model of chargers will be installed.
Atlanta-based RangeWater is one of the nation's largest multifamily developers and managers with a portfolio across the Southeastern and Southwestern United States that exceeds $6.6 billion, according to the company.
"Offering in-demand amenities is part of our mission to lead the rental housing industry," Carl Walton, senior director of innovation and design at RangeWater, said in a statement.
EnviroSpark has worked with other major multifamily players such as Starwood Capital Group, Wood Residential and ECI to install EV chargers at their properties.
“Partnering with organizations like EnviroSpark allows us to execute better on planning, site design, permitting, installation and maintenance," Walton said.
The RangeWater properties to receive EV charging stations include both apartment and townhouse developments. They’re located in Atlanta; Austin, Texas; Charlotte, North Carolina; Denver; Fort Worth, Texas; Fort Myers and Jacksonville, Florida; Nashville, Tennessee; and San Antonio.
Separately, Atlanta-based EnviroSpark said Thursday it will install and manage the first EV charging station for RaceTrac, one of the largest convenience store chains in the Southeast. The station will be installed at 204 Grace St. in Oxford, Alabama. Financial terms were not disclosed.