SUSTAINABILITY

REGENCY IS COMMITTED TO IMPROVING OUR ENVIRONMENTAL PERFORMANCE AND REDUCING THE IMPACT OF OUR BUSINESS ON THE ENVIRONMENT IN THE COMMUNITIES IN WHICH WE LIVE, WORK, AND INVEST.


This effort, which we have designated as our greengenuity(TM) program, allows us to develop, operate, and partner in retail shopping centers that lessen our impact on the environment and fulfill our commitment to become better stewards of the communities we serve. We view this effort as central to our core values, furthering our leadership position in the shopping center industry. As part of our strategy, we have partnered with the U.S. Green Building Council to create a program that will enable an entire shopping center to achieve LEED Certification.


A STRONG BUSINESS CASE FOR CONSERVATION AND EFFICIENCY


  • Green buildings have proven to enhance employee health and well being, resulting in higher productivity, decreased absenteeism, and reduced employee turnover. The use of daylighting - a significant energy-savings strategy - in retail stores has also been shown to improve sales and worker productivity.

  • Building "green" improves the odds of project approval, especially in high-barriers-to-entry markets and those with a strong sense of environmental commitment, increasing development opportunities.

  • Green buildings are positively received by communities and municipalities, oftentimes shortening the entitlement process.

  • Green buildings may qualify for a variety of planning and financial incentives, including faster entitlements, density bonuses, and reduced property taxes.

  • Reduced energy and water use result in lower operating costs, directly benefiting retailers' bottom-line.

  • Due to a limited supply of green retail buildings and increasing demand from tenants, Regency's projects may have faster absorption and higher occupancy rates.

  • LEADING OUR INDUSTRY


    Jefferson Square - one of Regency's in-process developments pursuing LEED certification: Jefferson Square is a being developed as a neighborhood retail center in LaQuinta, California with a mix of goods and services focused on everyday needs. Fresh and Easy, Tesco's small-format grocery store, and CVS, a drug store, are the anchors for this center. Regency Centers is applying for LEED certification, using a campus approach. The site is approximately 446,600 square feet with about 90,000 square feet of retail development.


    Open Spaces: Special attention was paid to the edges of the project. The center is adjacent to a residential neighborhood to the south and a park to the east. Extra landscaping and open spaces are situated along these edges and the center itself has double the amount of open space required by the City of La Quinta for this type of development.


    Innovative Storm Water Management: Parking was limited to the minimum required by zoning code. Preferred parking spaces are reserved for hybrid, carpool and family parking. A storm water retention structure has been incorporated underneath the parking lot. This structure, combined with conventional retention basins above ground allow for the site to capture 100 percent of the total post-development run-off of a 100-year storm and percolate it into the ground.


    Cool Roofs: Roofing materials for the shops buildings were selected for their high Solar Reflective Index values, minimizing the urban heat island effect. This high solar reflectance also contributes to tenants' energy savings.


    By using cool roofs, building orientation, high performance glass and high efficiency cooling units the project is able to reduce energy use by 40.2 percent. This translates to a 39.5 percent savings in energy costs.


    LEADERS IN SUSTAINABILITY


    Regency employees hold influential positions within industry environmental groups. For example, Mark Peternell, Regency's vice president of sustainability, serves on the following three committees:


  • Real Estate Roundtable Sustainability Policy Advisory Committee

  • International Council of Shopping Centers Environmental Sub-Committee and Sustainability Working Group

  • US Green Building Council LEED Retail Committee and Shopping Center Working Group