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May 20, 2009
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LEED What?!
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Join IREM Region 3 members and friends on Friday, May 29th, from 7pm-11pm at the Congressional Country Club for a night of dinner, drinks, and dancing to support a great cause — Special Love for Children with Cancer. Tickets are still available! E-mail for details.
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You haven't heard of LEED for Air Rights? Perhaps that's because it doesn't exist. But Louis Dreyfus is pushing the next best thing—it's working with USGBC to modify its Neighborhood development standard or develop a new urban infill air rights program.
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Yesterday, Louis Dreyfus Property Group local head Bob Braunohler and VP Sean Cahill explained the green goal: platinum for the I-395 platform air rights project. It's applied for a PUD and has been working with the District and the Federal Highway Administration to secure approvals for purchase of the air rights above 395 south of Mass. Ave., NW, between 2nd and 3rd Streets.
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What's so green about a platform (to be located here, snapped from the overpass between 2nd and 3rd, near G'town Law)? Louis Dreyfus plans unprecedented environmentally friendly things that we don't quite understand; for instance, cleaning the air coming off of the highway. Sean says imagine a glass chimney filled with plants with the roots exposed. "The air will flow across the medium, allowing the plants to catch the particles." It would capture rain water as well as the groundwater for re-use as part of a large grey water system for the project.
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So this is what LEED Platinum looks like in May. (No, we won't show you Louis Dreyfus's 801 17th every month.) The cost of the air rights: "A lot. An awful lot," says Sean, "but green development is in our DNA. There have been vegetative walls in Europe, and we hope to build something like that here in the next three years." He feels success now will make DC the undisputed leader in the US for urban infill green development.
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| PPIP Wish List |
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Treasury's Public-Private Investment Program sparked tons of questions, so we nabbed experts, Gadi Kaufmann, CEO of real estate advisory RCLCO, and colleague Scott Price, to learn what's missing from the plan to buy toxic (or the politically correct term now, legacy) assets. Gadi says it lacks a way for the buyer and seller to agree on a price. "Unless sellers are instructed to sell their legacy loans at whatever price investors would be willing to bid, we won't see much transaction activity." There's no incentive for sellers to mark the loans to today's market values, but "once regulators force lenders to accept that, transaction volume will pick up significantly."
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| Good Lookin' Office |
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Congrats to Cassidy & Pinkard Colliers and Gensler on the 2009 Pinnacle Award, from the Intl. Interior Design Association, for C&PC's 100-person office at 2101 L. Rand built out the 27k SF on the 7th floor with an open flow and sliver-like views into the conference rooms and workspaces. Price of that ambiance? "Several million dollars," says CEO Joe Stettinius, in front of some of the new artwork. Showing commitment to employees with an beautiful office? Priceless.
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| Supporting the Troops |
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Over the weekend, Luke's Wings, a non-profit started by Montview Realty VP Fletcher Gill to fly family members of service members to overseas hospital, banked $17K at golf tourney overflowing with real estate types. Enjoying the sun, great cause, and fairways at Whiskey Creek, we found East Coast Fire Protection's Butch Jones, Sigal Construction's Kevin Neno, Truland Service's Gerard Mullen, Tony Esteve and Pat Dolan, and Sigal's Andy Huang.
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This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. Copyright 2009, Bisnow on Business, Inc., 1323 Connecticut Avenue, NW, Washington, DC 20036. All rights reserved.
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