Hines Re-Certifies LEED Platinum Asset
- Sep 18, 2018
Hines’ 11-story 24th at Camelback II office property has been recertified Platinum under the U.S. Green Building Council’s LEED for Existing Buildings: Operations & Maintenance (EBOM) rating system. Hines owns the asset in partnership with an East Coast pension fund advised by Invesco.
Hines developed the 302,209-square-foot Class A office property in 2010 on an 8.5-acre site in the heart of Phoenix’s Camelback submarket. The building is next to 24th at Camelback, an eight-story, 302,209-square-foot asset which Hines recently sold. The 24th at Camelback II property first achieved LEED Platinum in 2013, being the first LEED EBOM Platinum multi-tenant property in Arizona. Up to this day, it remains the only LEED Platinum-EBOM Certified office property in the state.
To achieve this level of certification, the project was subjected to a series of upgrades, including: reduced emissions from conventional commuting trips by nearly 49 percent—this reduction was mainly attributed to the use of fuel efficient vehicles by building occupants; reduced indoor plumbing water use by 35 percent compared to standard fixtures—the new fixtures will reduce water usage by approximately 813,000 gallons per year; reduced irrigation water use by 60 percent—drip irrigation and native plantings contributed to this reduction.
In tone with the upgrades, the owners have purchased 50 percent off-site renewable energy. Renewable energy certificates were purchase to offset the emissions for 50 percent of the building’s energy usage for two years. Combined, the ECMs and offsets are set to result in an annual reduction of 970 metric tons of carbon dioxide, which is the equivalent to the emissions produced from the electricity use of 144 homes for a year.
In addition, 24th at Camelback II has earned the ENERGY STAR label each year since 2012. The current ENERGY STAR rating of the property is 93, which makes the campus 49 percent more energy-efficient than the average U.S. office building. This is the equivalent to an estimated $1.4 per rentable square foot in annual energy cost savings and annual greenhouse gas reductions equivalent to removing 401 passenger vehicles from the road.
Image courtesy of Hines