Vestar Development Co. is proud to launch GreenSTAR, a vow to sustainable development for millions of square feet of retail space on tap in the Southwest.

Vestar’s GreenSTAR initiative marks the Southwest’s first large-scale commitment to sustainable shopping center building techniques with the goal to achieve Leadership in Energy and Environmental Design (LEED) certification for the company’s new development projects.

In the United States, buildings represent 71% of our nation’s electricity consumption and 65% of its waste output.* Since new development is at the core of what we do, we feel an obligation to embrace the advancements in green building materials and systems and develop as responsibly as possible.

What is LEED?

LEED is the nationally accepted benchmark for the design, construction and operation of high-performance green buildings granted by the US Green Building Council. LEED certification provides independent, third-party verification that a building project is environmentally responsible, sustainable and provides a healthy place to live and work.

Currently, the US Green Building Council does not have an approved LEED program for retail projects. Vestar is on the forefront of the development and testing of LEED guidelines being drafted by the US Green Building Council for retail. Guidelines were drafted in September 2007 and are currently in the pilot stage, but adoption is not expected until early 2009.

For more information, visit the US Green Building Council at www.usgbc.org.

Why Now?

Vestar has always been committed to the communities in which it develops and mindful of its corporate responsibility to have a positive and lasting impact on those communities. GreenSTAR is really an extension of that philosophy and an effort to incorporate sustainable building techniques in our work. It’s Vestar’s hope that the benefits realized by this program will last for many years. With the emergence of the USGBC’s LEED program, the advances in green building techniques, and following Vestar’s success with the largest environmental clean-up in Arizona history (which today is the vibrant Tempe Marketplace), the timing is right for Vestar to formalize it efforts and take its sustainability program to the next level by pursuing LEED certification.

What exactly does this mean?
Examples of sustainable building techniques include:

Indoor air-quality management plans Construction waste recycling Reflective roofing Water harvesting Energy performance testing Incorporation of regional transportation routes Preferred parking for hybrid vehicles Many, many more

Where is this happening?

Vestar Development Co. is credited with Arizona’s largest environmental cleanup by way of its marquee development Tempe Marketplace (www.tempemarketplace.com.) A Brownfield and former Superfund site, the 130-acre Tempe Marketplace is now the state’s largest and most successful outdoor retail, entertainment and dining destination, and the venue in which countless green construction techniques and materials were pioneered and tested. The project celebrated its Grand Opening in September 2007 near Arizona State University and has earned top environmental and development honors from Valley Forward and Arizona Business Magazine.

The first Vestar project to be part of the GreenSTAR brand will be Oro Valley Marketplace, a 900,000-square-foot center just north of Tucson. Projects throughout the Phoenix, Tucson, Las Vegas, San Diego and Los Angeles metro areas will be developed to the new standards which will reduce water use, cut CO2 emissions, reduce waste and lower electricity consumption.

* Source: USGBC