Greening
Green buildings in smart growth locations have lower operating costs
and higher market appeal (thus higher rental rates) than non-green
buildings and therefore tend to be more profitable. Not all of the
buildings that the Fund will buy will be green when we acquire them. We
generate a “greening plan” for each asset to improve its environmental
performance. The plan addresses initial capital investments, tenant
improvements, operating procedures and ongoing investment in building
systems and operations.
Green improvements need to be independently certified to be credible.
The Fund certifies its buildings through the US Green Building Council
LEED EB Program when applicable and the EPA’s Energy Star Program,
which lead to quantification of greening activities. LEED EB and Energy
Star require a formal third party certification process and have
targeted performance benchmarks.
New construction represents approximately 1% of our nation’s building
stock; 99% is existing. Models that demonstrate how to retro-fit the
“existing 99” with simple, low-cost green improvements that result in
appropriate investment pay backs provide a model of an important step
towards solving our national energy and climate challenges.
Examples of green retro-fit strategies include:
- Reducing electricity consumption with
lighting retro-fits, motion-sensor switches, and Energy Star rated
equipment.
- Where climate permits, natural
ventilation strategies including operable windows and ceiling fans;
passive solutions to avoid solar heat gain, such as light-shelves and
shading.
- Commissioning and “right-sizing”
mechanical systems for increased efficiency and savings.
- Reducing water consumption through
fixture replacement and operating procedures.
- Using low-volatile organic compounds
(VOC) paints, adhesive and sealants for improved indoor air quality.
- Using recycled or recyclable and
sustainable materials, and recycling waste.
- Facilitating the use of alternative
transportation by providing bike rooms and showers.
The Rose Smart Growth Investment Fund’s green portfolio provides us
with a database to track performance and compare the benefits of green
investments and operating procedures. We are committed to continuous
improvements so that the Fund’s assets model the best practices for the
“existing 99.”
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Sunflower Market, at Highlands’ Garden
Village, is expected to earn a LEED Silver rating
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