ROCKVILLE, Md., Dec. 12, 2018 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) recently announced that its 24-acre mixed-use development in North Bethesda, MD, Pike & Rose, has achieved LEED for Neighborhood Development (LEED ND) v2009 Stage 3 Gold certification under the U.S. Green Building Council's LEED rating system. LEED ND was engineered to inspire and help create better, more sustainable, well-connected neighborhoods. The certification looks beyond the scale of buildings to consider entire communities.
Pike & Rose is the only LEED ND Stage 3 certified project owned and developed by a U.S. REIT and one of only 10 LEED ND Stage 3-certified projects in the U.S. as well as only 18 worldwide. Pike & Rose is a transit-oriented development located 6 miles north of Washington, D.C. The project comprises 379,000 square feet of retail, 765 apartment units, 99 condos atop a 177-key hotel, and 80,000-square foot Class A office building with an additional 212,000 square feet of office under development. The neighborhood is also home to one of the Mid-Atlantic's largest rooftop farms, a 17,000-square foot green space above a residential building which produces fruits and vegetables that are sold directly to tenants on site, local farmers markets, and neighboring restaurants on the property.
"Earning this important certification demonstrates Federal Realty's commitment to improving performance and creating a more resilient and sustainable future by minimizing our environmental footprint through energy and resource-efficient buildings," said Ronald J. Becker, CRX, CSM, Director, National Property Operations & Sustainability. "As leaders in the industry, we believe we have a responsibility and an opportunity to positively impact our communities, employees, investors, tenants and the environment, which are all critical components to long-term success."
Further evidence of Federal Realty's commitment to sustainability initiatives include:
- Federal Realty completed its annual sustainability reporting through the Global Real Estate Sustainability Benchmark (GRESB) and was awarded a Green Star recognition with 4 out of 5 stars. The Trust ranked first among its peers in the Health and Wellness category. In addition, Federal Realty reduced energy consumption by 11.4% year-over-year which is enough energy to power 643 homes for a year. The Trust also reduced water consumption by 3% year-over-year which equates to 7.7 million gallons of water.
- Federal Realty was recognized as a Green Lease Leader Gold by the Institute for Market Transformation and the U.S. Department of Energy (DOE)'sBetter Buildings Alliance for high-performance leasing practices which drive shared energy savings and sustainability benefits in buildings.
- Federal Realty is a leader amongst U.S. corporations for utilizing locations to generate renewable energy through solar with 16.7 megawatts of roof top solar installed at 30% of the Trust's properties.
- Federal Realty partners with Up Top Acres to operate rooftop farms at Bethesda Row and Pike & Rose which combined produce almost 30,000 lbs of produce annually. Produce grown at both farms is sold to local restaurants and at local farmers markets; at Pike & Rose the produce is also sold directly to the tenants of the residential building through the Up Top Acres membership program.
- Federal Realtypartners with Freight Farms, a Boston-based company that retrofits shipping containers with vertical farming technology, to repurpose unused parking spaces within its shopping centers as a place to locally and sustainably grow acres' worth of produce in a fraction of the space of traditional farms.
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 105 properties include approximately 3,000 tenants, in approximately 24 million square feet, and over 2,600 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 51 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.
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SOURCE Federal Realty Investment Trust