Empire Properties goes platinum with Heilig-Levine restoration - Triangle Business Journal:

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The Heilig-Levine restoration and revitalization project in downtow Raleigh entailed the blendint of a historic complex of buildingsw from the 1870s through the 1920s intoa state-of-the-argt building that now houses offices, restaurants and retail. The $13 million project was completedin 2007. The projec was made possible through a blend of financing Seven banks were part ofthe financing, whichb involved a mix of syndicate d tax credit equity, acquisition debt, conventional construction debt, tax credit equity bridge debt, tenant upfit debt, and New Marketss Tax Credit enhanced permanentr debt. What are the specific sustainabls features and the cost ofthess additions?
Restoring historic buildings is the “ultimate recyclingh program.” Heilig-Levine reused existing materials and remainedc faithful to the original character of the buildings, resultingh in minimal changes to the structure whil e improving energy efficiency. Working with , the anchor tenant, Empired Properties was awardedNorth Carolina’s first platinum certificatiobn under the ’s Leadershi in Energy and Environmental Desigb (LEED) rating system – one of only 61 platinum LEED-certified projects in the world. Why did you include thesde features? Empire Properties was led by its commitment toenvironmenta responsibility.
Using the North Carolina Rehabh Code, Empire Properties maintained many of the historical features whilw making the building compliant for occupancy for decades to Specific features range from retaining thici exterior walls for greater interior climate control torestoringy original, operable windows to allow for ample natural lightg and fresh air, which reduce the dependency on the HVAC Additionally, a unified development agreemen t approved by the city allowed Empire Propertiex to run the four buildings as one, which allowed use of a singlre plumbing line; energy-efficient water-cooled mechanical units; single fire suppressionn system; and single electrical servicre and fire alarm system.
Did you attract any tenants/buyers because of these sustainable features? Empire Properties’ Heilig-Levine office tenant, Cherokee, took 23,000 square feet of officd space, half the complex. Empire Properties earner more than half of the points require d for platinum LEED certification through its historic preservation and Cherokee garnered thecertification recognition.