Property leads wellness charge as the world’s
first apartment rental project to earn WELL Multifamily Residential
Certification under the WELL Building Standard™
Kilroy Realty Corporation (NYSE: KRC) today announced
that Hollywood Proper Residences, the 200-unit luxury high-rise at
its Columbia Square mixed-use project, has become the world’s first
apartment rental project to earn WELL Multifamily Residential
Certification under the WELL Building Standard™ (WELL).
Administered by the International WELL Building Institute™ (IWBI),
WELL is a performance-based system for measuring, certifying, and
monitoring features of the built environment that promote the
health and wellness of the people who live, work, and learn in
these spaces.
KRC has a successful track record of sustainability and health
achievements. GRESB, widely recognized as the most rigorous
standard for benchmarking the sustainability performance of real
estate companies and funds, named KRC the North American leader in
sustainability for the past three consecutive years and named it #1
for Health performance in the office sector in the most recent
reporting year, 2016.
“We are excited to bring to market, as our first residential
property, the first multifamily community certified
for healthy living under the WELL Building standard,”
said Chris Heimburger, senior vice president of development for
KRC. “As a market leader, we recognize the growing need to focus
our portfolio on the health and wellness of our tenants and
residents and we maintain a steadfast commitment to strive for
excellence in meeting this need.”
The residential tower demonstrates forward-thinking,
health-focused design that includes the following features:
- Performance-verified indoor air quality
achieved through a variety of methods, including increased outdoor
air and a suite of innovative filtration media
- Extensive onsite fitness center
- Health-focused building materials
- Increased daylight access
- Augmented green cleaning program
- Verified acoustic comfort
- Biophilic environment
- Performance-verified water quality
“We congratulate KRC for targeting and achieving WELL for the
Columbia Square Residential Tower and applaud the company for
putting the health and well-being of its tenants front and center
of their efforts,” said Rick Fedrizzi, chairman and CEO of IWBI.
“As the newest member of the family of WELL Certified™ projects,
the Columbia Square Residential Tower is a strong representation of
our growing movement and we are proud to work with KRC in this
leadership achievement.”
The project was constructed by Webcor Builders and designed by
GBD Architects. “We are committed to the WELL certification goals,”
said Cicely Rice, Webcor’s project director. “We enjoyed working
with Kilroy Realty to build California’s first certified
multifamily WELL building where people can live, work, and play in
an environment that was designed to nurture health and
productivity.”
The Columbia Square mixed-use project is located in the heart of
Hollywood two blocks from the corner of Sunset and Vine. In
addition to the residential tower, it includes office buildings
totaling approximately 460,000 square feet that earned LEED Gold
certification in 2016.
About Kilroy Realty Corporation. Kilroy Realty
Corporation (KRC), a publicly traded real estate investment trust
and member of the S&P MidCap 400 Index, is one of the West
Coast’s premier landlords. The company has over 70 years of
experience developing, acquiring, and managing office and mixed-use
real estate assets. The company provides physical work environments
that foster creativity and productivity and serves a broad roster
of dynamic, innovation-driven tenants, including technology,
entertainment, digital media, and health care companies.
At June 30, 2017, the company’s stabilized portfolio
totaled approximately 14.4 million square feet of office space
and 200 residential units located in the coastal regions of Los
Angeles, Orange County, San Diego, the San Francisco Bay Area, and
Greater Seattle. In addition, KRC had four projects totaling
approximately 1.8 million square feet of office space, 237
residential units and 96,000 square feet of retail space under
construction.
The company is recognized by GRESB as the North American leader
in sustainability and was ranked first among 178 North American
participants across all asset types. At the end of the second
quarter, the company’s stabilized portfolio was 52% LEED certified
and 71% of eligible properties were ENERGY STAR certified. More
information is available at http://www.kilroyrealty.com.
Forward-Looking Statements. This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are based on our current expectations,
beliefs and assumptions, and are not guarantees of future
performance. Forward-looking statements are inherently subject to
uncertainties, risks, changes in circumstances, trends and factors
that are difficult to predict, many of which are outside of our
control. Accordingly, actual performance, results and events may
vary materially from those indicated in the forward-looking
statements, and you should not rely on the forward-looking
statements as predictions of future performance, results or events.
Numerous factors could cause actual future performance, results and
events to differ materially from those indicated in the
forward-looking statements, including, among others: global market
and general economic conditions and their effect on our liquidity
and financial conditions and those of our tenants; adverse economic
or real estate conditions generally, and specifically, in the
States of California and Washington; risks associated with our
investment in real estate assets, which are illiquid, and with
trends in the real estate industry; defaults on or non-renewal of
leases by tenants; any significant downturn in tenants’ businesses;
our ability to release property at or above current market rates;
costs to comply with government regulations, including
environmental remediation; the availability of cash for
distribution and debt service and exposure to risk of default under
debt obligations; increases in interest rates and our ability to
manage interest rate exposure; the availability of financing on
attractive terms or at all, which may adversely impact our future
interest expense and our ability to pursue development,
redevelopment and acquisition opportunities and refinance existing
debt; a decline in real estate asset valuations, which may limit
our ability to dispose of assets at attractive prices or obtain or
maintain debt financing, and which may result in write offs or
impairment charges; significant competition, which may decrease the
occupancy and rental rates of properties; potential losses that may
not be covered by insurance; the ability to successfully complete
acquisitions and dispositions on announced terms; the ability to
successfully operate acquired, developed and redeveloped
properties; the ability to successfully complete development and
redevelopment projects on schedule and within budgeted amounts;
delays or refusals in obtaining all necessary zoning, land use and
other required entitlements, governmental permits and
authorizations for our development and redevelopment properties;
increases in anticipated capital expenditures, tenant improvement
and/or leasing costs; defaults on leases for land on which some of
our properties are located; adverse changes to, or implementations
of, applicable laws, regulations or legislation; risks associated
with joint venture investments, including our lack of sole
decision-making authority, our reliance on co-venturers’ financial
condition and disputes between us and our co-venturers;
environmental uncertainties and risks related to natural disasters;
and our ability to maintain our status as a REIT. These factors are
not exhaustive and additional factors could adversely affect our
business and financial performance. For a discussion of additional
factors that could materially adversely affect our business and
financial performance, see the factors included under the caption
“Risk Factors” in our annual report on Form 10-K for the year
ended December 31, 2016 and our other filings with the
Securities and Exchange Commission. All forward-looking statements
are based on currently available information, and speak only as of
the date on which they are made. We assume no obligation to update
any forward-looking statement made in this press release that
becomes untrue because of subsequent events, new information or
otherwise, except to the extent we are required to do so in
connection with our ongoing requirements under federal securities
laws.
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version on businesswire.com: http://www.businesswire.com/news/home/20170809006228/en/
Kilroy Realty CorporationSara NeffSenior Vice
PresidentSustainability(310) 481-8449
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