Gerding Edlen leads national trend in eco-friendly apartments
Mar 21, 2012
Bloomberg News reports on the recent surge in sustainable apartments across the nation. In addition to saving energy, these new multi-family developments also attract investors interested in green development and tenants willing to pay a premium for an eco-friendly, urban lifestyle.
Portland mayor Sam Adams said, ““We act on our values and I think that’s expressed by [Gerding Edlen]. They were the first to build deeply green buildings.” Sustainable apartments, such as Gerding Edlen’s LEED Platinum Indigo @ twelve | west and bike-friendly, LEED Gold 20 on Hawthorne, demonstrate the firm’s commitment to creating buildings that are responsible to their community from both a design and environmental perspective.
“In the Los Angeles beach-front district of Venice, The Frank, a 70-apartment complex, had a waiting list two months before its scheduled April 7 opening.” Green features at the anticipated LEED Platinum building include rooftop solar panels that heat an average of 60 percent of the building’s water and a community herb and vegetable garden.
“As Gerding Edlen takes its Portland experiments to other cities, some of the largest U.S. multifamily owners are stepping up green development, deciding that the extra construction costs will save money on operations and give them a competitive edge.”
“‘This is apartments’ moment and it’s a moment that’s not likely to go away quickly,’ Susan Wachter, professor of real estate and finance at the University of Pennsylvania’s Wharton School.”