“Historic preservation is, in and of itself, sustainable development.” - Donovan Rypkema, PlaceEconomics

Our approach to development extends beyond green, or environmentally-friendly, construction: we practice sustainable development. Sustainable development has been defined by the UN as "meet[ing] the needs of the present without compromising the ability of future generations to meet their own needs,” through environmental, economic, and social responsibility. The centerpiece of our “green” approach to development is our focus on renovating and rehabilitating New York’s historic structures.

Many developers and engineers claim that today’s structures are being built to be much more efficient than older buildings. This claim, however, does not take into account the impact today’s technologies, materials and mechanical systems can have in improving older structures’ energy, water, and carbon-emission efficiency. Most importantly, the energy used and carbon emitted in the renovation of an existing structure is vastly less than that required to build a replacement. A recent study in the UK, in fact, found that the reduction in carbon emissions over the life of a new building, as compared to an older structure, is virtually wiped out by the increase in emissions during the construction of the new building.

In each of our developments, we strive to preserve and enhance the existing structure, which benefits our residents, the surrounding community, and our investors. Using today’s materials, technology and green building techniques, we are able to improve our buildings’ energy and water efficiency. We also actively challenge our architects and construction teams to discover ways to preserve or reuse a maximum amount of each building’s existing structure and materials. Lastly, we implement strategies to improve the air quality both indoors and outdoors, with low-emitting materials, efficient mechanical systems, and green roofs.

This approach allows us to:  

• Preserve the charm and integrity of New York’s historic neighborhoods.
• Take advantage of renovation opportunities in the city’s designated Historic Districts.
• Divert a significant amount of construction waste from landfills from only doing selective interior demolition, and reusing the majority of each building’s original materials.
• Provide residents with the opportunity to enjoy modern living in the historic neighborhoods and quality buildings they demand.
• Increase our building’s value through tenant retention, higher rents and lower operating expenses.
• Save money: in demolition, removal, construction, and operating costs which combined have a significant impact on the long-term returns for our investors.