LEED: Not just for traditional office anymore. Urban Innovations' 57k SF property at 222 W Hubbard received LEED for Core & Shell, one of the first loft office buildings in the city (and the company's first) to earn the designation, VP of commercial property management Alfrieda Green tells us. Located near the Mart, the 100-year-old building's tenants include Centro and the Roche Bobois showroom. Some cool stats: The company bought 203,411 kWh/yr of renewable energy credits, which could power 18 houses annually (as long as those damn kids don't leave all the damn lights on); over 98% of the original building was maintained during construction; and almost 93% of construction waste was diverted from the landfill.
Tenants in Urban Innovations' loft spaces are becoming more educated about what sustainability really means, Alfrieda says, which is "the property is designed to perform better and make a direct financial impact on their business." Since the company started the renovation in a tenants' market in '08, the verdict's still out on if companies will pay a premium for LEED spaces (rents are currently in the mid $20s/SF). But lease-up was incredibly quick and the lower operating costs are hard to ignore, Alfrieda says. As part of the LEED process, this means more efficient use of resources, better air quality, more natural light, and improved energy usage.
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