First Capital REIT’s Post

🌱 Estimates suggest rehabilitated structures can produce 50-75 percent fewer carbon emissions than new construction. Converting vacant commercial buildings to multifamily housing can be an efficient way to address our nation’s housing shortage. Plus, you can increase sustainability by making energy-efficient upgrades during your renovation. Read more: https://hubs.ly/Q02rKcM40 #sustainability #CommercialRealEstate #GreenBuilding

How to retrofit unsustainable commercial buildings and why landlords will be stranded if they don’t. From #housebuilding to hospitals, the industry is abuzz with new ideas about #sustainablebuildings. There is less talk about the UK’s existing, mostly carbon-unfriendly commercial buildings, particularly those unloved ones struggling to find tenants in a post-Covid agile age. When Watts Group Limited attended the zero carbon property conference FOOTPRINT 2024, the focus was firmly on new builds such as the Velindre Cancer Centre in Wales where local materials are being sourced for construction and the Sara Cultural Centre in Skelleftea, Sweden, which at 75m is one of the tallest timber buildings in the world and a carbon negative template for high rise construction. https://lnkd.in/egB58_Dx It wasn’t all about new builds. On Foot Print’s retrofit stage, we heard from John Christophers RIBA, a campaigning architect who has retrofitted 2,000 homes in his home town of Balsall Heath using a little-known pot of local authority money. These and other examples are seriously impressive, but what about commercial buildings? What can be done to #retrofit commercial stock in the UK, and why do #landlords and the industry need to face up to the challenge? https://lnkd.in/eAHPyPGH

Moving the the needle to create move supply at scale!!

New York City Hall, in collaboration with the Department of Housing Preservation and Development (HPD) and the New York City Housing Authority (NYCHA), announced plans to prepare an Environmental Impact Statement (EIS) for the Fulton Elliott-Chelsea renovation project in Manhattan. This ambitious project focuses on reconstructing four NYCHA housing developments: Chelsea, Chelsea Addition, Elliott, and Fulton Houses, all situated in the Chelsea neighborhood. The initiative aims to address the housing needs of approximately 4,410 residents across two campuses separated by a quarter mile. The Fulton Elliott-Chelsea renovation project includes the phased demolition of existing residential units and public spaces, followed by the construction of new mixed-use buildings. These buildings will feature a mix of affordable and market-rate apartments, new public spaces, and retail facilities, including supermarkets. Additionally, the project proposes the enhancement of public facilities space managed by Hudson Guild and the addition of parking spaces. Central to the project's execution are two potential paths: the "Rezoning Alternative" and the "No Rezoning Alternative." These options will be thoroughly examined in the EIS to determine their impacts and viability. Through NYCHA's PACT program, the project will transition Section 9 housing subsidies to Section 8 Project-Based Vouchers (PBV) via the Rental Assistance Demonstration (RAD) and Title 18 USHA. NYCHA plans to enter a long-term lease with Elliott Fulton LLC and Essence Development or their affiliates for the project land, necessitating an environmental permit and EIS due to HUD's involvement. This project has sparked open discussions and opportunities for public and stakeholder feedback, emphasizing community engagement in the redevelopment process. The Fulton Elliott-Chelsea renovation project is set to be a significant undertaking, aiming for completion by 2040, with a focus on enhancing living conditions, modernizing facilities, and fostering community development in Manhattan's Chelsea neighborhood. #FultonElliottChelsea #NYCHA #ManhattanRenovation #NYCHousing #EIS #UrbanDevelopment #AffordableHousing #CommunityEngagement #PACTprogram #NYCDevelopment Contact me to discuss the latest scoop in real estate! #manhattanrealtor #brooklynrealtor #queensrealtor #bronxrealtor #westchesterrealtor #nyrealtor #nycrealtor #realtist #nyrealestate #douglasellimannewyork

Uncover the truths about #PassiveHouse construction and learn why it's gaining momentum in Multifamily developments! From energy savings to building costs, Brian Skender debunks six common myths and clarifies the differences between Passive House, LEED and Net Zero building standards.   Pictured: Skender under construction at Fifth City Commons, a 43-unit, all-electric, Passive-House affordable housing complex and retail space on Chicago’s West Side.   Read Brian’s article in Multi-Housing News: https://lnkd.in/dfBXaJa5

Melbourne based housing supply solution built & delivered. A diverse project team needed to deliver and complete, proof that planning is just one element in project delivery. The question is how can this model translate to a regional town or regional city setting? #thinkingoutloud #housingsolutions #regionaldevelopment #victoria #buildcommunitycapacity #housingdiversity #sustainableregions

These 10 real estate projects or potential projects are worth keeping an eye on for the rest of the year and heading into 2025. #washingtondc #commercialrealestate https://lnkd.in/eMZ2_kb7

The surge in multi-family construction across Canada is making a notable impact on urban development in the Lower Mainland. This trend is addressing housing affordability and leading to more mixed-use projects that blend residential and commercial spaces. #MultifamilyHousing #UrbanDevelopment #HousingAffordability #MixedUseProjects #IndustrialRealEstate #VancouverCRE #SupplyChainLogistics #WarehouseInnovation #CommercialRealEstate #MarketTrends #LowerMainland #InvestmentOpportunities

We’re excited to welcome WASE LIMITED, a thriving environmental services business helping companies preserve resources, to our unit in City Business Park in #Bristol. WASE LIMITED agreed to a 15-year lease for 6,500 sq ft of sustainable industrial space during construction, after understanding our plans to renovate the unit to meet high sustainability standards. The pre-let follows an extensive market-leading refurbishment of the property, which was delivered with sustainability in mind to offer new rooftop solar panels, LED lighting and the replacement of gas heaters with electric, alongside the implementation of highly energy efficient services to reduce running costs of the asset. Since completing the refurbishment, the unit’s EPC rating has been upgraded to an ‘A’. This project aligns well with Orchard Street’s approach to responsible investment, which focuses on improving sustainability, occupier experience and performance across the portfolio and highlights that best-in-class renovations will continue to attract the best tenants. City Business Park is a multi-let industrial estate, strategically located close to Bristol’s city centre. The asset is 96% let, with only one Grade-A industrial unit remaining vacant following a comprehensive refurbishment. Josh Quinton-Smith #ESGtheOSIMway #ResponsibleInvesting #HealthyBuildings #Occupierexperience

The multi-family construction market in Boston is currently experiencing a surge in activity, with several key factors driving growth and development in the area. - The demand for multi-family housing in Boston continues to rise, driven by an increasing population and a strong job market. This has led to a growing number of development projects, as developers seek to meet the demand for high-quality housing options in the city. - The construction industry in Boston is also being influenced by changing consumer preferences, with a focus on sustainable and environmentally friendly building practices. This has led to an increase in projects that incorporate green building technologies and materials, as developers seek to meet the demand for eco-friendly housing options. This is an exciting time for the multi-family construction market in Boston, with a number of factors converging to drive growth and development in the area. With increasing demand, a focus on sustainability, and strong investment, the market is poised for continued expansion in the coming years. #BostonRealEstate #MultiFamilyConstruction #SustainableDevelopment 🌆🏗️🏙️