Jun 22 2010
City National Plaza in downtown Los Angeles has received Gold certification from the United States Green Building Council under the Existing Building (EB) section of its Leadership in Energy and Environmental Design program. A 38-year-old twin-tower complex with 2.5 million square feet of office and retail space, City National Plaza is one of the largest and oldest properties to earn LEED Gold.
Owners Thomas Properties Group (Nasdaq:TPGI) and the California State Teachers’ Retirement System have worked in partnership to upgrade and green the project since acquiring it in 2003.
“City National Plaza increased occupancy by 58 percent in the last six years while electrical consumption went up only 11.8 percent,” said James A. Thomas, Chairman and CEO of Thomas Properties Group. “We are saving an average of $1.35 million a year in electric bills, primarily due to key energy-saving capital investments such as chiller replacements, lighting retrofit and exterior wall sealing. With an Energy Star score of 83, City National Plaza is 33 percent more energy efficient than the average U.S. office building.”
Achieving gold for City National Plaza is a major milestone in meeting TPG’s goal to be the first major property owner to convert its entire national portfolio to LEED-rated “high performance” properties by the end of 2011. Four properties already have LEED certifications, seven more are on track in the LEED program and four planned developments have achieved LEED pre-certification.
City National Plaza in Los Angeles
“We view green as a competitive advantage for our firm,” said Thomas. “No other real estate company has our 20-year history of developing and operating environmentally-friendly projects that create healthier and more productive workplaces for tenants, cut energy and water use and save money.”
TPG’s senior management team’s first green endeavor in 1989 was planning Playa Vista near Marina del Rey as an urban infill, smart growth community that was pedestrian and environmentally friendly. In 1998, TPG designed and developed a state-of-the-art headquarters for the California Environmental Protection Agency in downtown Sacramento. One of the most energy efficient buildings in the U.S., the 25-story, 952,000-square-foot high rise became a model for sustainable construction and green operations. It was the first high rise building to receive LEED Platinum and Governor Schwarzenegger directed that all other state buildings follow its lead. Over nine years TPG has continually improved the building’s green operations that now save the State of California $1.4 million in annual operating expenses versus comparable Sacramento buildings. Earlier this month the Cal EPA Building received a Platinum certification under the new LEED-EB Operations & Maintenance rating system.
The Joe Serna, Jr./Cal EPA Building has been an excellent laboratory for TPG to test new cost and resource saving ideas such as daytime janitorial services and advanced recycling techniques, noted Thomas.
Local TPG property management staffs across the country have been trained and empowered to take ownership of green operations at their buildings and all staff has been encouraged to work toward receiving USGBC’s LEED Accredited Professional credential.
“We are a long-term owner and have a long-term viewpoint,” said Thomas. “We believe reducing our carbon footprint and cutting operating expenses will give us a strong competitive platform for the future. As the economy regains its footing and attention is refocused on the benefits of living and working green, we believe tenants will choose healthier and more productive workplace environments.”
Source: http://www.tpgre.com/