WashREIT says it has achieved certification on eight multifamily assets under BREEAM’s In-Use certification standard.
This is a significant milestone for both WashREIT and BREEAM, as it signifies the first set of multifamily assets to receive BREEAM certification in the U.S. WashREIT acquired the properties in 2019. They include a total of 2,390 units, spanning locations across Virginia and Maryland.
The company used BREEAM certification to bring these assets—most of which were built more than 30 years ago—to its sustainable standard. Half the properties certified earned a rating of “Very Good.”
“We’re focused on existing Class B assets, and historically, this asset class has lacked in sustainability investments. But residents and investors alike care about sustainability,” said Paul McDermott, president and CEO of WashREIT, in a news release. “As we work with BREEAM, our goal is to create opportunities for the industry and other operators to also find ways to invest in sustainable improvements and achieve ESG certifications for their assets.”
Related Stories
Reconstruction Awards | Nov 26, 2018
Yarn works: Neverending yarn
111-year-old mill becomes a mixed-income multifamily community.
Multifamily Housing | Nov 20, 2018
Designs unveiled for new residential tower in Honolulu
Studio Gang pays homage to sugarcane plants that were once prevalent in this area.
Multifamily Housing | Nov 14, 2018
BIG’s ‘wooden hillside’ residential building in Stockholm officially opens
The building spans 270,000 sf.
Market Data | Nov 14, 2018
A new Joint Center report finds aging Americans less prepared to afford housing
The study foresees a significant segment of seniors struggling to buy or rent on their own or with other people.
Multifamily Housing | Oct 26, 2018
Future proofing multifamily housing amenities for Generation Z
How does a multifamily property developer or operator make a smart investment in amenities that will give the project long-term value?
Multifamily Housing | Oct 23, 2018
A threesome of transit-oriented projects
Developers and their project teams are recognizing the value of walkability, convenient neighborhood services, and transit access, as these three TODs demonstrate.
Wood | Oct 19, 2018
Design revealed for mass-timber residential tower in Milwaukee
The developer is confident that the city will approve construction, which is scheduled to start next year.
Mixed-Use | Oct 15, 2018
35-story mixed-use tower will be tallest residential building in Long Beach
Studio One Eleven designed the tower.
Multifamily Housing | Oct 10, 2018
Affordable treasures
This year’s prestigious Gold Nugget Awards honor four projects that provide affordably priced housing for homeless families, seniors, and veterans.
Multifamily Housing | Oct 9, 2018
Breaking new ground: The New Home Company
The company, which is headquartered in Aliso Viejo, Calif. relies heavily on focus groups and market research to understand buyer preferences specific to each new community.
