A building HVAC system includes an airside system having a plurality of airside subsystems, a high-level controller, and a plurality of low-level airside controllers. Each airside subsystem includes airside HVAC equipment configured to provide heating or cooling to one or more building spaces. The high-level controller is configured to generate a plurality of airside subsystem energy targets, each airside subsystem energy target corresponding to one of the plurality of airside subsystems and generated based on a thermal capacitance of the one or more building spaces to which heating or cooling is provided by the corresponding airside subsystem. Each low-level airside controller corresponds to one of the airside subsystems and is configured to control the airside HVAC equipment of the corresponding airside subsystem in accordance with the airside subsystem energy target for the corresponding airside subsystem.