REAL ESTATE

Santa Monica Place targets LEED certification

BY CSA STAFF

Santa Monica, Calif. Macerich announced Thursday that is Santa Monica Place shopping center is targeting LEED (Leadership in Energy and Environmental Design) certification.

The new open-air, three-level shopping and dining destination now under construction just two blocks from the beach in Santa Monica, Calif., is an adaptive reuse of the enclosed, suburban-style mall it replaces.

The project is scheduled to open on Aug. 6, 2010.

“Santa Monica is one of the most environmentally forward-thinking communities anywhere, and our focus on sustainability aligns us with the interests of our shoppers, which is important to us,” said Bob Aptaker, VP development for Macerich, the parent company of Santa Monica Place. “We believe the most sustainable building is one that already exists, and our decision to reuse and redesign the existing structure was our first significant step among many.”

Examples of green-building practices at the new Santa Monica Place include recycling an existing structure on a previously developed site and sending the majority of construction debris to a recycling facility; turning a climatized indoor mall into an outdoor center which includes the use of more natural light and natural ventilation of mechanical systems; converting the center to open-air, adding a solar roof to tenant areas, and reducing some other common area loads (primarily lighting), which means the center may save enough energy to power 90 homes; improving connectivity to the downtown streetscape on all sides to ensure pedestrian access; selecting water-efficient landscaping and employing various available technologies to reduce water usage throughout the center; utilizing low-emitting paints, adhesives, carpets, coating and other materials; and ensuring that a portion of new construction materials will consist of recycled content materials.

“Our approach to redeveloping Santa Monica Place is part of our portfolio-wide efforts to heighten sustainability at all of our properties and corporate offices,” said Jeff Bedell, VP sustainability for Macerich. “Not only does this make good financial sense because of the operating savings, but our company sees this as the right thing to do.”

Project anchors are Bloomingdale’s, which selected Santa Monica Place as the site for its first SoHo concept store outside Manhattan, and a new Nordstrom. Other retailers signed on for the project include Nike, CB2, Burberry, Kitson, Michael Kors, Ted Baker, BCBGMAXAZRIA, Coach, Ed Hardy, True Religion, Joe’s Jeans, Swarovski, Ilori, Love Culture, Angl, Bernini, Michael Brandon, R.O.C. Republic of Couture, Arthur and Shuz, as well as Artevo, a technology-driven art gallery.

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Gap updates market strategies; plans to go overseas

BY CSA STAFF

NEW YORK, N.Y. Gap will present investors with an update on its strategies to regain market share and invest further in its online and international businesses.

Among specific announcements, Gap brand will return to television advertising in November, following a two-year absence. The company will also continue to invest internationally, including: opening its first Gap store in China in 2010; expanding its outlet store presence internationally; and launching online businesses in Canada and the United Kingdom in 2010.

“Old Navy’s performance this year has shown what we can deliver through consistent products, re-invigorated marketing, and an enhanced store environment,” said Glenn Murphy, chairman and CEO of Gap. “With our improved economic model, we’re ready to step up our investments and strategies to regain market share and expand our international platform.”

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Walmart supports humanitarian efforts around the world

BY CSA STAFF

BENTONVILLE, Ark. The Walmart Foundation announced a donation of $350,000 in disaster relief for people impacted by recent droughts in Guatemala, flooding in southern India and natural disasters in Southeast Asia.

Heavy rains and flooding in southern India have impacted more than 2 million people, resulting in approximately 300 deaths. The Walmart Foundation’s $125,000 donation to CARE will assist in implementing immediate relief activities for approximately 25,000 flood survivors in the areas of Karnataka and Andhra Pradesh.

In Guatemala, a $100,000 donation to the United Nations World Food Programme, WFP, will go toward purchasing and distributing therapeutic foods to fight acute malnutrition in the impacted areas. The donation will provide 95 tons of Vitacereal, which provides essential micronutrients that are lacking in rural indigenous diets but play an important role in growth and protection against disease. The funds will support 31,000 beneficiaries to reduce chronic malnutrition in the most affected areas of the country

The Walmart Foundation will also donate $125,000 to the American Red Cross International Relief Fund to help aid in their response to recent disasters in the Philippines, Indonesia, Vietnam, Samoa and American Samoa. The funds will go toward meeting the immediate needs of these populations by funding the distribution of medical provisions, water, temporary shelters and sanitation services, as well as help emergency responders reconnect families, restore livelihoods and help the communities build their resilience for future natural disasters.

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