The Washington Chapter of the National Association of Industrial and Office Properties (NAIOP) has announced that it has selected Pacific Plaza Development LLC’s Pacific Plaza as the recipient of its award for Sustainable Development for a Building Renovation.
According to a statement published on NAIOP’s Web site, Pacific Plaza has set a new benchmark of achievement for office and retail properties in downtown Tacoma. The nature of the public/private partnership between the City of Tacoma and Pacific Plaza Development LLC allowed for an overall development cost of $163 per square foot ($42 million total project cost), which includes renovation of a parking garage.
The project began in 2005 when the City of Tacoma solicited proposals from developer-led teams to revitalize the two garage parcels. Dubbed the “Tombstones of Tacoma,” the two decaying parking structures were broadly considered civic eyesores. Pacific Plaza Development’s proposal was selected as the only scheme that intended to adaptively reuse, rather than demolish, the existing structures.
Pacific Plaza added 35,000 square feet of high-end retail-ready street frontage, a completely renovated garage and three floors of new construction above the existing garage. The top two floors provide a combined 74,000 square feet of Class-A office space — the first infusion of such office space in the Tacoma market in a decade. The complete project is fully leased with a tenant mix of non-profit and private sector tenants, as well as state and federal agencies.
Pacific Plaza has obtained LEED Platinum Certification from the U.S. Green Building Council. The company estimates that more than $2 million in sustainable expenditures was invested by Pacific Plaza and the City of Tacoma toward achievement of this certification, comprising 5 percent of the total development cost.
The company utilized the expertise of the entire design and build team and choosing mechanical, electrical, envelope and structural strategies that minimized the project’s reliance on energy, materials and water. Product decisions were made with the intent on maximizing value and using recycled content and regional materials as appropriate, while minimizing waste and resource consumption.
All products used at Pacific Plaza meet LEED thresholds for low-emitting materials, with the primary focus on carpets and flooring, paint, sealants and adhesives, and composite woods, with the value of recycled products at 36 percent of total construction value. Twelve percent of construction value was harvested, manufactured and transported within 500 miles of Tacoma.
The integrated disciplines and approach of the Pacific Plaza team resulted in an innovative building and a cost-effective solution for Washington State’s first LEED Platinum Core and Shell project. Pacific Plaza Development LLC made a commitment to environmental stewardship and civic leadership from its inception.
NAIOP established the Sustainable Development Award in 2005 to recognize the growing number of firms engaged in green development. NAIOP and its member companies are committed to developing model properties adhering to the highest standards in the industry and believe that socially conscious development is essential to the economic vitality of the industry.
Applicants were judged on a number of criteria, including company commitment to sustainability, project history, economic analysis, water efficiency, energy efficiency, accessibility, innovation and other sustainable attributes. Entries for the award were reviewed by industry leaders.
In 2010, the Sustainable Development Award is sponsored by NorthMarq Capital. NorthMarq provides commercial real estate services for investors, developers, corporations and tenants. It offers mortgage banking and commercial loan servicing in 32 offices and property management of commercial space in 22 markets, along with corporate services, brokerage and investment sales. For more information, visit http://www.naiop.org .
– – – – – – EARLIER TACOMA DAILY INDEX COVERAGE – – – – – –
Downtown’s Pacific Plaza earns LEED Platinum certification (06/03/10) — http://www.tacomadailyindex.com/portals-code/list.cgi?paper=88&cat=23&id=1782381&more=0
City Council approves Pacific Plaza street-level office space (12/16/09)
Office or Retail? City, developer try to agree on Pacific Plaza street-level occupancy (12/11/09)
City leaders cut ribbon for downtown Pacific Plaza project (09/22/09)
Outside Pacific Plaza: A garden grows high above downtown Tacoma (09/03/09) — http://www.wahmee.com/tdi_outside_pac_plaza.pdf
PHOTOS / Pacific Plaza Tour (09/02/09) — http://i.feedtacoma.com/TDI-Reporters-Notebook/photos-pacific-plaza-tour-inside/
Inside Pacific Plaza: From blight to beauty, a $30 million downtown high-rise sets a new standard (09/02/09) — http://www.wahmee.com/tdi_inside_pac_plaza.pdf