Title: iPED Green Homes
1Welcome
iPED Green Homes and Sustainable Communities
2007 The Annual National Symposium on Green
Affordable Housing Community Development
San Francisco, California July 19 20, 2007
2What Youll See Today
- Background
- Who is United Fund Advisors
- Funds
- Green building
- Energy
- Case Studies
- Benefits of Green Building
3Portland, Oregon
- Governor Tom McCall
- Bottle Bill
- Urban Growth Boundary
- Most LEED Buildings, per capita, in US
- Higher-than-LEED green building rating system
PDX LEED
4Portland, Oregon
- 1 Green City in America (A
Role Model for the Nation)
How Green is Your City - Solar America City US Dept. of
Energy - 1 for Biking to work US
Census - 3 Best Place to Live
Sperling Report
5Green Building in the Media
- Some of the most prominent names in architecture
have turned green TIME Magazine - Capitalism and sustainability are deeply and
increasingly interrelated. Wall Street Journal - "green" architecture has encouraged architects,
developers and construction managers to consider
the effect their buildings have on the health of
their occupants and the environment. NY Times - and nowhere is this market (for green building)
being proven up like in Portland. BetterBricks
6Impact of Buildings
- 2030 Challenge
- Buildings are responsible for 48 of the energy
use and Greenhouse Gas (GHG) emission in the US - 76 of all power plant-generated electricity is
used by buildings - 50 of US energy comes from coal largest source
of CO2 - China adding 1 coal-fired plant per week
Technology Review
Source Architecture 2030 US Energy Information
Administration
7Triple bottom line mission
- To create opportunities for profitable
investments that enhance social and environmental
yields.
8Triple Bottom Line
3BL
- Financial
- Social
- Environmental
9What We Do
- With our affiliate Portland Family of Funds, we
- Manage real estate and energy investment
funds - Structure and close transactions
- Source debt and equity
- Manage regulatory compliance
- Analyze community impacts
- Provide investor reporting services
10Fund Management
- UFA created, capitalized and manages 501.0
million in investment funds - Actively pursuing opportunities to develop and
manage triple bottom line investment funds
11Fund Portland New Markets Fund
- 100 million New Markets Tax Credits Fund
- Will be fully deployed on 10 projects by Q3
2007
12Fund Global Green
- Global Green (Santa Monica, CA) recently selected
UFA to manage 100 to 200
million Green Building Mezzanine and Equity Fund
13Fund NYCEDC
- The New York City Economic Development
Corporation (New York, NY) recently selected UFA
to structure financing for key NYC cultural
facilities with a successful NMTC application.
14Green Buildings
- Expect to surpass 1 billion in total project
cost by Q3 07 - Of projects that we have participated in the
financing stack, 650 million are green buildings
including (reached and targeting)
Living
Platinum
Silver
Gold
2
5
1
5
15Gerding Theater at the Armory
- 19th century Armory becomes sustainable 21st
century theater - 36.1 mm project
- Goals
- Support of the Arts
- Historic Preservation
- Community hub
- LEED Platinum
16 White Stag
- University of Oregon expands in Portland
- 30.3 mm project
- Goals
- Support higher education in Oregon
- Sustainable Design Lab
- Synergy between education and sustainable
businesses - LEED Gold/Platinum targets
1712W
- Mixed-use project helps fund Head Start
- 137.8 mm project
- Goals
- Job retention/creative services
- Workforce housing
- Carve-out
- LEED Gold target
18Sunset Gordon
- Mixed-use, workforce housing in Hollywood
- 168.3 mm project
- Goals
- Mixed-use
- Workforce housing, office, retail, parking
- Transit-oriented
- LEED Gold target
19The Civic
- Green housing, condo and retail
- 98 mm project
- Goals
- Affordable Housing
- Blight Reduction
- Wealth Building Property
- Low-income housing LEED Gold target
- Condo LEED Silver target
20 Vanport Square
- Wealth-building in the heart of MLK
- 8.7 mm project
- Goals
- Wealth building through commercial condos
- Economic development
- Jobs for local small businesses
- LEED Silver target
21Meier Frank/The Nines Hotel
- Repurposing Portlands historic retail center
- 117.0 mm project
- Goals
- Historic preservation
- Jobs and training
- Invigorate key retail anchor
- Premium hotel rooms
- LEED Silver target
22Economic impactsUFA Real Estate, 2004-2006
- 1. Total closed
- 2. Project costs
- 3. Jobs created
- 3. Fiscal impacts
- 4. Total economic impacts 10 years
- 14
- 915.7 million
- 8,000
- 528.8 million
- 3.8 billion
Estimated direct, indirect and induced economic
impacts of Construction and 10 years of
Operations.
23Renewable Energy
- Solar
- Two solar projects aggregating 225kW
- Raising a 100 million Solar Fund
- MOU with SunEnergy Power Corporation to jointly
develop solar projects - Wind
- 10MW Wind project under development
- 300MW wind-firming solution
24Bend Centennial Parking Plaza
200kW solar array
25Featured Project Skidmore Building
- Historic (1889)
- Deeply distressed census tract
- HUB Zone, Enterprise Zone, Urban Renewal Area
- NMTC, Historic, BETC
- Transit-oriented
- Part of White Stag Project
26White Stag Project
- Collaborating with the University of Oregon
School of Allied Arts and Architecture - Project anticipated to reach LEED Gold
27Skidmore Building
- Targeting LEED Platinum Interiors
- 25 kW solar array on roof
28Skidmore Floor-by-Floor
4. UFA Office
3. Sustainable Business Hub
2. Sustainable Design Lab
1. U of O Library
29Floor 3 Sustainable Business Hub
- Ecosystem for sustainable design thought
leaders and practitioners, such as - Cascadia Green Building Council
- BlueSkye
- Nth Power
- Oregon Natural Step
30Floor 2 Sustainable Design Lab
- State of the art presentation, collaboration and
data-mining hardware and software - High-bandwidth communications
- Focus on sustainable development strategies,
technologies and solving financing gaps with
sustainable design technologies
31Convergence of Ideas
Sustainability
Education
PDX Center
Design
Technology
Finance
Community
Collaboration
32Featured project 12W
- Parking lot to new office, retail and workforce
housing - 137.8 mm project
- 29 mm NMTC allocation
- Components
- Office
- Workforce housing
- Retail
- Underground parking
Fund Portland New Markets Fund Controlling
entity PDC
33Community Wins
- Catalytic project in West End
- Creative services job retention
- Carve-out of approximately 1 million net from
the New Markets Tax Credits - Albina Early Head Start, pre-K program for
underprivileged kids in northeast Portland
34Albina Early Head Start
- 415 children ages 3, 4,and 5
- 44 of people below poverty level in the county
live in the service area of the school - 90 ethnic minorities
- Governor Kulongoski recently used the school as
backdrop to urge state legislators to increase
funding for pre-K programs
35Living Building?
- Exploring ways to make Albina Early Head Start
the first living school building in the US - Cascadia Chapter of the USGBC proposed the Living
Building Challenge - Net Zero resource footprint
- Portable concept
36Benefits of Green Building
- ENVIRONMENTAL
- Reduce the impacts of pollution and natural
resource consumption - Decreased transportation development
- Decreased maintenance burden (roads)
- Increased economic performance of mass transit
systems. -
- HEALTH AND SAFETY
- Enhance occupant comfort and health
- Reduce absenteeism and turnover
- Increased productivity
- COMMUNITY
- Minimize strain on local infrastructures
- Improve quality of life
- Mitigate social costs
37Benefits Commercial
- DEVELOPER/OWNER
- Increase property valuation
- Efficient systems more valuable
- Healthy, i.e. productive indoor environment
workers, visitors, shoppers - Marketing (resale) advantages
- Lease up faster
- Decrease vacancy
- Improve retention
- Improve occupant performance
- Higher visitor traffic
- Improved sales
-
38Benefits Residential
- OWNER/RESIDENT
- Reduce operating costs
- Utilities cost savings energy, water 20 -
50 - Enhanced rental margins, especially triple net
- Utilities cost savings 20 - 50
- Higher resale value
- Health
- Low VOC Improved indoor air quality
- Daylighting More natural lighting, less cost
- Natural ventilation more comfortable
- Increased density more interaction
39Green Building BRAND
- BRAND IDENTITY
- Cities and developments as Green Magnets
- 500 mayors sign The U.S. Conference of Mayors
Climate Protection Agreement - Creative Class
- Knowledge workers
- Families
- Growing industry sector
- 21st Century version of High-tech
- High demand for expertise
- Highly exportable
40Challenges to building green
- Higher costs, which increase depending on LEED
target (3 - 10) - Financial structuring challenges
- Non-mainstream technologies
- Green and Historic not compatible in all ways
(windows, facades) - Education
- Consumers
- Builders
- Investors
- Lenders
- Legislators
41Opportunities to building green
- Early in the curve
- Increasing demand
- Maximum impact commercial buildings
- Long term cost savings
- Health benefits
- Resource savings
- Do Something Worthwhile
42Thank you
iPED Green Homes and Sustainable Communities
2007
Contact Norris Lozano United Fund Advisors (503)
226-1370 norris_at_portlandfunds.com