ROCKVILLE, Md., Dec. 12, 2018 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) recently announced that its 24-acre mixed-use development in North Bethesda, MD, Pike & Rose, has achieved LEED for Neighborhood Development (LEED ND) v2009 Stage 3 Gold certification under the U.S. Green Building Council's LEED rating system. LEED ND was engineered to inspire and help create better, more sustainable, well-connected neighborhoods. The certification looks beyond the scale of buildings to consider entire communities.
Pike & Rose is the only LEED ND Stage 3 certified project owned and developed by a U.S. REIT and one of only 10 LEED ND Stage 3-certified projects in the U.S. as well as only 18 worldwide. Pike & Rose is a transit-oriented development located 6 miles north of Washington, D.C. The project comprises 379,000 square feet of retail, 765 apartment units, 99 condos atop a 177-key hotel, and 80,000-square foot Class A office building with an additional 212,000 square feet of office under development. The neighborhood is also home to one of the Mid-Atlantic's largest rooftop farms, a 17,000-square foot green space above a residential building which produces fruits and vegetables that are sold directly to tenants on site, local farmers markets, and neighboring restaurants on the property.
"Earning this important certification demonstrates Federal Realty's commitment to improving performance and creating a more resilient and sustainable future by minimizing our environmental footprint through energy and resource-efficient buildings," said Ronald J. Becker, CRX, CSM, Director, National Property Operations & Sustainability. "As leaders in the industry, we believe we have a responsibility and an opportunity to positively impact our communities, employees, investors, tenants and the environment, which are all critical components to long-term success."
Further evidence of Federal Realty's commitment to sustainability initiatives include:
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 105 properties include approximately 3,000 tenants, in approximately 24 million square feet, and over 2,600 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 51 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.
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Leah Andress Brady | Brenda Pomar |
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301.998.8265 | 301.998.8316 |
SOURCE Federal Realty Investment Trust
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