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
Sports and Recreational Facilities | Jan 25, 2018
Virginia Beach: A surf town with a wave problem no more
A world-class surf park will highlight Virginia Beach’s new live-work-play development.
Market Data | Jan 25, 2018
Renters are the majority in 42 U.S. cities
Over the past 10 years, the number of renters has increased by 23 million.
Resiliency | Jan 24, 2018
A luxury community in Florida mandates resilience in new-home construction
Alys Beach’s in-house GC builds to standards set by the FORTIFIED program.
Multifamily Housing | Jan 24, 2018
Apartment rent rates jump 2.5% in 2017, led by small and mid-sized markets
The average price for one-bedroom units increased the most.
Multifamily Housing | Jan 17, 2018
The Concours at Carlisle: A condo community for gearheads
The new development will represent the only auto condo community in Central Pennsylvania.
Mixed-Use | Jan 16, 2018
Mixed-use development under construction in Detroit’s central business district
The development is being built on the former site of the Statler Hotel.
Multifamily Housing | Jan 10, 2018
Multifamily 2018 outlook: Developers tap the brakes, but will maintain historic pace
Multifamily developers are poised to register the second-highest annual completions count of this cycle in 2018, but with fewer completions than 2017’s cycle peak, according to a CBRE report.
Multifamily Housing | Jan 9, 2018
New 58-unit luxury apartment building under construction in Chicago’s Gold Coast neighborhood
The 8-story building will feature two- and three-bedroom residences.
Multifamily Housing | Jan 5, 2018
Let’s discuss the Energy Star Multifamily High-Rise Program
The demand for rental housing has been on a steady climb since 2004.
Multifamily Housing | Jan 4, 2018
Shigeru Ban’s mass timber tower in Vancouver gets city approval
The 232-foot-tall Terrace House luxury condo development will be the tallest hybrid wood structure in North America.
