With over 40 certified or registered LEED projects, Gerding Edlen knows a thing or two about building green–and also, apparently, about census statistics, which have indicated that about 180,000 new urban dwellers are moving into the nation’s cities on daily basis. In order to meet the increasing demand for green urban living, the company has acquired two key California properties for development.
The first property, purchased for $9.25 million, is located at 1285 Sutter Street in the heart of downtown San Francisco on the Van Ness corridor, just south of Pacific Heights. Gerding Elen expects to begin construction in May of this year on a ground-up, mixed use development here that will include107 residential rental units, approximately 10,000 square footage of retail and approximately 127 parking stalls, for which the developer intends to seek LEED Gold.
The second property, purchased for $8.6 million, is located at 512 Rose Avenue in the Westside Los Angeles district of Venice. Comprising approximately 62,000 square feet of vacant land (the former site of the Pioneer French Bakery) this building will be a for-rent residential mixed-use building, also built with LEED Gold certification in mind.
Since 1996, the firm said, it has developed more than 60 green projects totaling nearly $5 billion in real estate value throughout the Western United States.
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