Philadelphia – Today, East Market celebrated Earth Day by honoring the recent LEED Silver certifications for the three towers on the site. National Real Estate Development, LLC (“National Development”) lead the effort in receiving these certifications for Phase One of the project.
East Market is a dynamic, mixed use, 4.3 acre site spanning an entire city block from Market Street to Chestnut Street and from 11th Street to 12th Street in Center City. Phase One of the project is now complete, and each building has received the LEED Silver designation:
- 1100 Market Street – A 568,000-square-foot, mixed-use development with 322 apartments, over 100,000 square feet of retail, a pedestrian-focused streetscape and below grade parking with 10% of the spots dedicated to EV. The project was awarded LEED Silver V3 in 2018.
- 1100 Ludlow – A 264,000-square-foot office building with ground floor retail. The building was a core & shell renovation of a 100-year-old warehouse, which has attracted tech and design focused tenants including BCJ Architects, the Philadelphia Design Center, and Wodify Technologies. MOMs Organic Market occupies the ground floor retail space. The project was awarded LEED Silver V3 in 2019
- The Girard – A 245,000-square-foot residential tower with 240 apartments. The building includes 65kw Capstone cogeneration unit which provide electricity, domestic hot water, and heat to the exterior lap pool. The project was awarded LEED Silver V3 in 2019.
“We are proud to receive these three designations for East Market,” said Charles Norman, Development Manager from National Development. “From the beginning, our goal for the project was to create a dynamic and sustainable gathering place where a new generation of Philadelphians can connect. Thanks to our dedicated project team, we have accomplished this goal, and we have done so in a way that demonstrates National Development’s and our ownership group’s commitment to sustainability.”
National Development is now focused on completing Phase Two of East Market. In total, these projects represent over $700 million in development for Philadelphia and will take over ten years to develop.
The time, effort, and coordination of these certifications is a large undertaking, and requires commitment from multiple parties. These certifications were made possible with the help of multiple project partners, including BLT Architects, Quest Energy, RG Vanderweil Engineers, Bala Consulting Engineers, AKF, Tutor Perini, Clemens Construction, andSSH Real Estate.
The LEED (Leadership in Energy and Environmental Design) rating system, developed by the U.S. Green Building Council (USGBC), is the foremost program for recognizing best-in-class building strategies and practices in green building. National achieved LEED certification on these buildings for implementing practical and measurable strategies and solutions aimed at achieving high performance in the following categories: water efficiency, energy use and atmosphere, materials and resources, and indoor environmental quality.
As a result of incorporating enegy efficiency measures into these projects, the projects have also been awarded incentives by both PECO and PGW. On Tuesday, PGW presented a check to the projects for $120,000 for incentives gained through the utilities’ Energy Sense Program. Additionally, though PECO’s Smart Ideas Program, the projects will receive over $111,000 and 1199 Ludlow is eligible for a further award of up to $86,000 through PECO’s CHP (Combined Heat and Power) incentive program.
About East Market
East Market is a dynamic mixed-used project blending urban shopping and dining experiences with contemporary work and living spaces. The pedestrian-oriented development in the heart of Philadelphia has revitalized an entire city block, from Market to Chestnut, and 11th to 12thStreets. Here, you can live at two incredible apartment towers, The Girard or The Ludlow, work at 1100 Ludlow, shop and dine at one of our many retailers, or just hang out on Chestnut Walk and Ludlow Street with a cup of coffee and your dog. The project is owned on behalf of a client by National Real Estate Advisors, LLC, an investment manager specializing in build-to-core, developing and owning large-scale, urban commercial and multifamily projects for its institutional client accounts; Joss Realty Partners, a New York-based private real estate investment firm; Young Capital LLC, a Philadelphia-based real estate investment firm affiliated with Classic Management, Inc.; and SSH Real Estate, one of the largest privately held commercial real estate companies in the Greater Philadelphia Region. East Market is being developed by National Development, the full-service development arm of National Real Estate Advisors. For more information, please visit www.eastmarket.com.