Top Halifax developer: Going green good for business
17 hours ago
By BRETT BUNDALE Business Reporter
Jim Spatz, CEO of Southwest Properties, stands in the water collection room of the Grainery Lofts on South Bland Street in Halifax on Wednesday. (INGRID BULMER / Staff)
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One of Nova Scotia’s top real estate developers says going green isn’t just good for the environment. It’s good for business.
Jim Spatz, chairman and chief executive officer of Southwest Properties Ltd., said all the company’s developments from now on will be environmentally sustainable given the success of the Grainery Lofts.
The $15-million, 113-unit, six-storey Leadership in Energy and Environmental Design-certified project on South Bland Street is the first of its kind in Atlantic Canada.
Designed by Breakhouse Inc., Kassner Goodspeed Architects Ltd. and Solterre Design, the building’s carbon footprint will be about 40 per cent less than other apartment buildings.
Energy conservation measures include the use of reflective materials to reduce the heat island effect on the roof and other spaces, low-flow water fixtures, solar chimneys in the mechanical penthouse to preheat air entering the ventilation system, and motion sensors will activate common-area lights.
While the building cost roughly five per cent more to build in an environmentally sustainable fashion, Spatz said it is expected to save 40 per cent in energy costs.
“It’s an incremental investment to do all these things, but there is good return on investment,” Spatz said in an interview Wednesday.
“So it’s not just a green thing; it also makes good business sense. Everything we do going forward will be green.”
After opening less than two months ago, the Grainery Lofts is more than 80 per cent leased, with all the one-bedroom lofts rented out and fewer than 30 two-bedroom lofts still available for lease.
“For the majority of our tenants, the building’s environmental reputation is what attracted them initially,” said Kelly McGuire, leasing consultant for the Grainery Lofts.
“After viewing the lofts, what resonated most was the level of design and quality of the lofts: the floor-to-ceiling windows, private balconies, granite countertops and stainless steel appliances. These features are typically unheard of in apartments in Halifax.”
Southwest Properties is now turning its attention to new developments, with green certification in mind.
“In an era of greenwashing, you have to differentiate yourself,” Spatz said, noting that being certified by a third party confirms that the building is environmentally sustainable.
And it is also good branding as consumers are drawn to greener building practices, he said.
Indeed, Spatz said the fact that Southwest Properties’ portfolio contains the first LEED-designed residential apartment building in Atlantic Canada could give the developer an edge over its competitors.
The company is gearing up to begin work on its 10-year, $500-million redevelopment of the Sisters of Charity motherhouse in Rockingham.
Spatz said the company wants the redevelopment to be a sustainable community.
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