Alexandria Real Estate Equities Receives Recognition for Sustainability

Alexandria Real Estate Equities Recognized for Sustainable Practices

Alexandria Real Estate Equities, Inc. has recently garnered the prestigious Sustainable Design Impact Award, showcasing its commitment to pioneering sustainable practices within the life science real estate sector. This recognition reflects the company’s adeptness at merging innovation with environmental stewardship, as it plays a crucial role in promoting sustainable design strategies tailored for its mission-critical Labspace infrastructure.

Sustainable Design and Innovative Energy Solutions

The award highlights Alexandria's exceptional approach to cutting emissions through the integration of alternative energy sources across its Labspace developments. Notable projects, including laboratory facilities in various key markets, demonstrate Alexandria's proactive stance in advancing industry-leading architectural practices focused on sustainability.

Energy-Efficient Projects

Among the projects that contributed to this recognition are the recently completed facilities at 325 Binney Street, aiming to set new standards for sustainable laboratory design in Cambridge. This facility will house Moderna's global headquarters and R&D center, showcasing Alexandria's dedication to fostering innovative environments where groundbreaking medical advancements can thrive. Additionally, the 15 Necco Street project exemplifies state-of-the-art laboratory design, emphasizing high-performance standards.

Reduction in Emissions

Alexandria's initiatives resulted in significant reductions in emissions, with estimates indicating a remarkable 97% and 96% decrease concerning the Massachusetts 2020 Stretch Code for these two facilities. The company is not only dedicated to energy efficiency but also incorporates geothermal energy systems and utilizes 100% renewable electricity, setting a benchmark in sustainable practices within the industry.

Strategic Partnerships and Corporate Responsibility

Eleni Reed, senior vice president and head of sustainability at Alexandria, expressed the company’s commitment to fostering a holistic life science ecosystem that meets pressing medical needs. This recognition reflects Alexandria's ongoing dedication to establishing meaningful partnerships with tenants, addressing sustainability priorities collaboratively.

Innovative Wastewater Heat Recovery

In addition to its individual projects, Alexandria boasts a pioneering energy district at the Alexandria Center for Life Science in South Lake Union, Seattle. This district features one of the largest wastewater heat recovery systems in North America, potentially covering about 70% of the campus's heating needs while projecting a 99% reduction in greenhouse gas emissions related to typical laboratory buildings in the area.

Accolades for Sustainable Development

The achievement of the Sustainable Design Impact Award by Nareit further cements Alexandria's reputation as a leader in sustainable design in the real estate investment trust (REIT) sector. This award is reflective of innovative practices across the board, evaluated across measurable impact, innovation, and overall sustainability efforts, showcasing Alexandria's commitment to environmental responsibility.

About Alexandria Real Estate Equities, Inc.

Founded in 1994, Alexandria Real Estate Equities, Inc. has emerged as a leading life science real estate investment trust (REIT), with a focus on collaborative mega campuses in prominent life science innovation hubs. The company boasts a market capitalization of approximately $32.5 billion, with an asset base consisting of operating properties and ongoing construction projects. Their strategic approach not only aims to create state-of-the-art environments for tenants but also to support transformative life science companies through specialized capital investments.

Frequently Asked Questions

What is the Sustainable Design Impact Award?

This award, presented by Nareit, recognizes innovative sustainable design efforts and practices among its member REITs.

What projects contributed to Alexandria's award?

Key projects include 325 Binney Street and 15 Necco Street, both notable for their energy-efficient designs and successful emission reduction strategies.

How does Alexandria reduce its carbon footprint?

The company employs alternative energy sources, geothermal systems, and high-performance building designs to effectively reduce emissions.

What is Alexandria's role in the life sciences sector?

Alexandria is a leading developer and operator of life science campuses, providing spaces that foster innovation and collaboration for biomedical companies.

Where can I learn more about Alexandria Real Estate Equities?

You can explore more about the company's initiatives and information on its website.

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