Wood Partners Receives LEED Certification for Dallas Glass House Project

U.S. Green Building Council Awards the Developer in Recognition of Its 375-Unit Apartment Building

ATLANTA, GA--(Marketwire - August 2, 2010) -   Wood Partners, L.L.C., one of the nation's largest multifamily developers, is proud to announce that it received a Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council (USGBC) for its Dallas Glass House multifamily high-rise development.

"This achievement is important to Wood Partners as we make our mark as a leader in environmentally friendly building," said Chief Executive Officer Ryan L. Dearborn. "Last year Wood Partners made the decision that green building would be at the heart of everything we do. The reward is creating energy efficient homes for our residents."

The LEED certification is part of the USCGBC's Green Building Rating System for the design and construction of energy-efficient and high-performing buildings. The Glass House project, which consists of 375 apartment units in a split-level project with one 21-story and one 12-story building, meets the organization's standards for energy use, lighting, water and material use as well as other efficient features such as the use of recycled materials.

LEED-certified buildings are designed to: lower operating costs and increase asset value, reduce waste sent to landfills, conserve energy and water, be healthier and safer for occupants, reduce harmful greenhouse gas emissions, qualify for tax rebates, zoning allowances and other incentives as well as demonstrate an owner's commitment to environmental stewardship and social responsibility.

The leadership at Wood Partners issued a new energy policy in March 2009 that said going forward all of its new projects would be designed and constructed to achieve efficiency standards through LEED or ENERGY STAR certifications whenever possible. The company's push into green building came from evidence of demand from home renters who made it overwhelmingly clear in survey results that they wanted efficient living choices. Beyond that, it has been a strong interest for Wood, as well as its investors, to move to the forefront of green building.

"We have found that a lot of our joint venture equity partners are interested in providing green buildings and we are doing what we can to answer their call. In fact, Wood Partners has a LEED Accredited Professional, Patrick Dennis, on its team which affords us an in house expertise that most other firms don't have," said Patrick Trask, Wood Partners' Central Region Director. Wood Partners joint ventured with BlackRock and construction financing was provided by Bank of America. 

Glass House was finished in March of 2009 and reached full occupancy in April of this year. The landmark luxury high-rise boasts iconic architecture with unparalleled style and matchless amenities. Floor-to-ceiling windows expose views of the city's Uptown area, Turtle Creek and Victory Park. Key amenities include an infinity edge pool, a dog walking deck, grilling area, rooftop deck with inviting fireplace, stylish lounges and bar, media room with plasma TVs, stunning lobby and concierge. 

"There are only a small handful of LEED certified multifamily projects in the entire state, and we are proud to be leaders in bringing environmentally conscious rental housing to the communities in which we live and work," says Todd McCulloch, Wood Partners' Dallas Director.

Other energy efficient developments in the works for Wood Partners include Alta at Indian Woods Apartments in Stoughton, Mass., 154 units; Alta at Regency Crest in Ellicott City, Md., 150 units; and in Denver, Alta Aspen Grove, 280 units.

About Wood Partners

Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 36,000 homes with a combine value of more than $4.5 billion in the Southeast, Washington D.C., Texas, Colorado, Nevada, Arizona and California. To learn more about Wood Partners, please visit our Web site at www.woodpartners.com

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