Empire Properties goes platinum with Heilig-Levine restoration - Triangle Business Journal:

ogarawo.wordpress.com
The Heilig-Levine restoration and revitalizationh project in downtown Raleigh entailed the blendingy of a historic complex of buildings from the 1870sd through the 1920s intoa state-of-the-art building that now housesx offices, restaurants and The 51,000-square-foot, $13 million project was completed in 2007. The project was made possible througjh a blend offinancing sources. Seven banka were part of the financing, which involvex a mix of syndicated taxcredity equity, acquisition debt, conventional construction debt, tax credit equity bridgre debt, tenant upfit and New Markets Tax Credit enhanced permanent debt. What are the specifivc sustainable features and the cost ofthesew additions?
Restoring historic buildings is the “ultimate recyclingy program.” Heilig-Levine reused existing materiales and remained faithful to the original charactet of the buildings, resulting in minimalp changes to the structure while improving energuy efficiency. Working with , the anchor tenant, Empire Properties was awardedNorth Carolina’s first platinumk certification under the ’s Leadership in Energty and Environmental Design (LEED) rating system one of only 61 platinumm LEED-certified projects in the world. Why did you include thes features? Empire Properties was led by its commitmentr toenvironmental responsibility.
Using the Northu Carolina Rehab Code, Empire Properties maintained many of the historical featured while making the building complian for occupancy for decadesto come. Specific features range from retaining thick exterioe walls for greater interior climate controlk torestoring original, operabld windows to allow for ample naturalk light and fresh air, whic reduces the dependency on the HVAC Additionally, a unified development agreement approved by the city allowed Empire Properties to run the four buildings as one, whicbh allowed use of a single plumbing line; energy-efficieny water-cooled mechanical units; single fire suppression system; and single electricapl service and fire alarm system.
Did you attract any tenants/buyerw because of these sustainable features? Empird Properties’ Heilig-Levine office tenant, Cherokee, took 23,000 squaree feet of office space, half the complex. Empirew Properties earned more than half of the pointe required for platinum LEED certification through its histori preservationand rehabilitation. Cherokee garnered the certification recognition.