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institutions offer incentives for energy efficiency and green design, “which is obviously very important in this tighter market.”
“Many of these certifications have preferential pricing offered by Fannie Mae and other lending structures,” he said. “So there’s a compound effect there, taking the financial incentives that developers receive, but also the efficiencies for both the building and residents of the building.”
At Fifty-Five Union, a new 403-unit apartment building in Newark’s Ironbound section, developer J&L Cos. has incorporated features aimed at conserving water and reducing
the impact of rainwater on the streets. Most notable is a cutting- edge recycling system that captures stormwater on the roof, filters it using UV radiation and repurposes it for irrigation throughout the property.
The system, as well as a green
roof, was required by a city zoning ordinance and action plan aimed at promoting healthy and sustainable development. But J&L’s Gabriel Lopez said the firm set out to be eco-
conscious regardless, in part because it’s a long-term stakeholder in Newark.
Gabriel Lopez
Look no further than the hybrid heat pumps in each apartment that draw from a central boiler system, which are energy- efficient and provide a more
economical solution for residents, as well as an elevator system that generates power when it descends.
There are also more obvious design elements such as a two-story living green wall in the lobby, more than 20,000 square feet of outdoor
space and other touches that J&L incorporated in tandem with Minno & Wasko, whose team also designed Fifty-Five Union.
“I think residents respond well to
it,” said Lopez, a vice president with J&L, “and they would like to think that they’re living in a building that cares about sustainability and that
is concerned about lowering waste, energy and water consumption. So we
A two-story living green wall in the lobby of Fifty-Five Union is among several features geared toward wellness and sustainability at the new 403-unit apartment building in Newark’s Ironbound section, developed by J&L Cos.
definitely market that to residents.”
That approach helped Fifty-Five Union become Newark’s first residential property to be certified
by the Fitwel program, a designation from The Center for Active Design that recognizes efforts to promote the physical, mental and social wellbeing of its occupants.
Whether it has a substantial impact on leasing remains to be seen, and Lopez conceded that “you’re still
decades away from really having sound data” about the return
on investment for many green technologies. But “to the extent that we can control costs and lower our carbon footprint, it helps” he said — especially for a prominent developer in the city.
“Because we’re a stakeholder in Newark with a big pipeline ... we just feel like it’s incumbent on us to do the right thing, ultimately, and to stand
TM 21
Courtesy: J&L Cos.
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