Articles - October, 2006

Hines CalPERS Green Development Fund (HCG) Created with +$120 M Equity Investment

Calpine_center_city_foreground_lres_web In case you haven’t noticed, Hines is one of those smart real estate companies that is leading the way in sustainable real estate.  They’re committed to sustainable building and I recently blogged a quote from Hines Chairman + Founder Mr. Gerald D. Hines where he said "sustainability has become a key component of development."  Well, it looks like they’re throwing more money at that philosophy, and I think this press release should be a wake up call to all those developers out there that are just throwing up non-green buildings, willy nilly. 

Hines announced the closing of a Hines CalPERS Green Development Fund (HCG), which is capitalized with +$120 Million.  This equity investment will allow the development of more than $500 M in high performance, sustainable office buildings throughout the United States, certified through the LEED-CS (Leadership in Energy and Environmental Design Core and Shell Program).  What’s even more significant than the amount of money that will be invested in green building development, is the fact that CalPERS is the nation’s largest pension fund.  This is really going to accelerate the tipping point in green development because CalPERS is such a huge player.

Hines Senior VP and fund manager said, "We have long tried to persuade tenants that there are significant bottom-line benefits to sustainable development and build out. Fortunately, the green movement is gaining steam as the public become more conscious of its benefits.  The real estate industry is finally ready for green."  I couldn’t agree more.  If you can’t tell, this is a big damn deal. 

Extra Links:
Hines Press Release [September 27, 2006]
Hines Official Website
CalPERS Official Website

Green Valley Lofts Raise the Bar for Innovative Mixed Use, Sustainable Development

Building_rendering_1 There really, actually, truly, factually, legitimately is a growing interest in living in more environmentally sensitive buildings.  Even still, whether you’re looking for a single family home, urban townhome, downtown loft, or warehouse loft, the players in the green development field are few and far between (but increasing).  I noticed an interesting developer that is building the "first ‘zero energy’ sustainable mixed-use building in Las Vegas."  This green development, called the Green Valley Lofts, is minutes from the Vegas strip and neighbors all the urban amenities one could ask for (gym, restaurants, banks, dry cleaner, car wash, etc.).  It’s lined to be LEED Certified, too. 

Green Features:
The building will have a stainless steel substructure with floor to ceiling Heat-Mirror insulated glass (benefits include improved interior comfortability, reduced fabric fading, and maximum noise control), aka the EAG Facade.  Also there’s a rooftop solar-photovoltaic system, energy-efficient (non-ozone depleting) closet-type water source HVAC system, low wattage lighting, Energy Star appliances, tankless water heaters, eco-space elevator, whole house central water filtration system, programmable thermostats, zero- to low-VOC non-toxic paints, and bamboo flooring.  The company has a nice description of the benefits of these green features online. 

The interior will include all the amenities that a modernist would desire:  imported Italian kitchens, recycled glass countertops, bamboo flooring, remote controlled window shades, and the whole house lighting system.  Note, some of these features are greener than others.  There’s a glass enclosed roof-top spa as well. 

Loft_interior Loft_bathroom Loft_balcony

As far as pricing is concerned, these lofts aren’t cheap, but that’s understandable because they aren’t built to be cheap.  Phase 1 prices seem to range from the low $400s to $1.1 million.  And some of the financial incentives that they offer include the popular energy efficient mortgage, the Nevada Power Solar Rebate Program, the usual Federal + State renewable energy tax incentives, and any other energy tax incentives.  What’s better, there will be an raffle and one lucky owner will receive the New 2007 Toyota Camry Hybrid.  Nice business model guys, really. 

Extra Links:
Green Valley Lofts [official website]
EAG Facade [Euro-American Glazing]

Modern LUMI Rainwater Tank Receives Sustainability Award

Evening_lumi_1 I wanted to share this modern + green water storage solution with those of you that are interested in keeping your landscape design project aesthetic.  Katrina Logan, founder of small architectural firm Katrina Logan Architects and design company Full Tank, designed the LUMI Rainwater Tank so that eco-conscious consumers could have a visually appealing rainwater storage receptacle.  LUMI is made of sculptural satin acrylic and can be made in a range of colors and sizes (250 liters – 1100 liters).  Additionally, the shape can be customized and tailored to commercial applications (graphic applications, advertising, etc.). 

Day_lumi The tank glows in the sunlight, making the rainwater reserves visible, and has internal lights that illuminate the tank in the evening.  Often, architects try to conceal and disguise water tanks on the side of the house or with various landscaping techniques, but Logan’s design eliminates the ugliness of common storage tanks.  In the LUMI, she’s successfully targeting the inner city design community.  And early in October 2006, she received The City of Melbourne Sustainability Design Award.  I’m starting to imagine one of these at Hotel Palomar or some place like that. 

Extra Links:
Daily Dose of Architecture Post
State of Design Awards, Victoria 2006

Page 9 of 12« First...«7891011»...Last »


Popular Topics on Jetson Green