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Bullitt Center April 30, 2013 Thomas Bobo Justin Farrar Zabrina Johal

Burnham-Moores Center for Real Estate University of San Diego Master of Science in Real Estate Presentation. Bullitt Center April 30, 2013 Thomas Bobo Justin Farrar Zabrina Johal. Please do not quote or use this presentation without appropriate recognition. Thank you!.

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Bullitt Center April 30, 2013 Thomas Bobo Justin Farrar Zabrina Johal

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  1. Burnham-Moores Center for Real EstateUniversity of San DiegoMaster of Science in Real EstatePresentation Bullitt Center April 30, 2013 Thomas Bobo Justin Farrar Zabrina Johal Please do not quote or use this presentation without appropriate recognition. Thank you!

  2. “The Greenest Commercial Building in the World” • GOAL: revolutionize how commercial buildings are designed and built and eventually turn a profit • Opened on April 22, 2013—Earth Day! • Living Building Challenge • Located at 15th Avenue and East Madison Street 1 MILE Burnham-Moores Center, MSRE Program, University of San Diego

  3. Burnham-Moores Center, MSRE Program, University of San Diego

  4. Major Players • Owner – Bullitt Foundation • Established in 1952 by Dorothy S. Bullitt • Inherited 28% of the King Broadcasting Stock in 1989 • Devoted to protecting and restoring the environment of the Pacific Northwest • Leases half of the top floor (6th) • Architect – The Miller Hull Partnership • Established in 1977 • Emphasis on socially responsible and human public architecture • Diverse assortment of projects • Reputation is based on simple, innovative and authentic designs • Developer – Point 32 • Delivers quality buildings, strong financial returns, and pride of ownership • Leases the entire 4th Floor Burnham-Moores Center, MSRE Program, University of San Diego

  5. The Bullitt Center: Worth Every Penny for Tenants with Similar Intrinsic Values “We aren’t making the move due to dollars and cents, but because we want to be part of something pioneering that reflects our values.” - Bullitt Center Tenant • Bullitt Center Drivers • State of the art demonstration • Goal: build the greenest possible building ever built • “A little pricey” • Construction costs added up to $355/sf ($55/sf more than typical) • Slightly less than most new building downtown • Located 1 mile east of downtown – far removed from amenities • Does not appeal to the typical tenant • Appeals to first-of-a-kind adopters with “green” values Burnham-Moores Center, MSRE Program, University of San Diego

  6. Multi-Tenant 50,000 S.F. Office Building • The building was preleased and open to the public • Tenants started moving in March 2013 • Multi-tenant – 80% leased Burnham-Moores Center, MSRE Program, University of San Diego

  7. Project Realization • Bullitt Foundation • Education partners: University of Washington and Cascadia Green Building Council • Department of Planning and Development • New Market Tax Credits • US DOE and Pacific Northwest National Laboratory • Tenants • Still seeking philanthropic partners to fully realize the vision – Center for Energy and Urban Ecology and McGilvra Place Green Infrastructure Burnham-Moores Center, MSRE Program, University of San Diego

  8. Awards and Certifications • Projected to meet the Living Building Challenge • Site, water, energy, health, materials, equity and beauty • Performance-based and evaluated after one year of operation • 2012 Forest Stewardship Council Design & Build Award • Use of sustainable lumber • 2012 Seattle AIA Award • Best in sustainable design • LEED Platinum Burnham-Moores Center, MSRE Program, University of San Diego

  9. Challenges Burnham-Moores Center, MSRE Program, University of San Diego

  10. Design Burnham-Moores Center, MSRE Program, University of San Diego All image sourced from Bullitt Building official blog

  11. Composting toilets • Phoenix Composting Toilets from Advanced Composting System of Whitefish, Montana • Saves water, energy, and eliminates nutrient release into the watershed • Unique to commercial buildings Burnham-Moores Center, MSRE Program, University of San Diego

  12. Solar Energy Seattle Annual rainfall: 38.6 in Cloudy days: 225 Rainy days: 150 Burnham-Moores Center, MSRE Program, University of San Diego

  13. Daylighting False color imaging of a photo taken inside a physical model of the level 2 mezzanine provides visualization of luminance levels and the influence of a skylight. Daylighting analysis of early atrium scheme showing limited daylight effects on levels 5&6 Burnham-Moores Center, MSRE Program, University of San Diego

  14. N Interior lighting effects: ceiling height Orientation 11’6” ceiling height 14’2” ceiling height 77% of floor has daylight levels below the 2% daylight factor 38% of the floor area has daylight levels below the 2% daylight factor 39% increase Burnham-Moores Center, MSRE Program, University of San Diego

  15. Rainwater cistern • City of Seattle has not approved treated rainwater to be used as a potable source. • Ownership of rainwater is contentious issue. Burnham-Moores Center, MSRE Program, University of San Diego

  16. Pop Quiz • Water Capture: • Seattle has a higher annual rainfall (measured in inches) than how many of these cities? • Boston • Atlanta • Nashville • NYC • New Orleans • Houston Burnham-Moores Center, MSRE Program, University of San Diego

  17. Pop Quiz: Answer Source: Denis Hayes interview, NOAA Burnham-Moores Center, MSRE Program, University of San Diego

  18. Water Cost • Seattle: Less than a penny a gallon • Off-Peak (Sept 16 – May 15) = $4.50 / CCF • Peak (May 16 – Spet 15) = $5.72 / CCF Source: Seattle Public Utilities District Burnham-Moores Center, MSRE Program, University of San Diego

  19. How well has the project worked? • “This is a market rate project” • Absorption was in line with expectations • 80% occupied at opening • Core & Shell costs = $18.5 Million • That’s $355/sf • “More of a warm shell” • Plan to “normalize” costs for comparison Burnham-Moores Center, MSRE Program, University of San Diego

  20. Energy Reduction Burnham-Moores Center, MSRE Program, University of San Diego

  21. Energy Uses Burnham-Moores Center, MSRE Program, University of San Diego

  22. Benefits • White roof = 15% cooling load savings • Solar = “Net Metering” • 30% Federal grant toward PV purchase • Federal Tax Credit for up to 30% of installation cost of PV system • 100% rebate on Sales & Use Tax for installation Burnham-Moores Center, MSRE Program, University of San Diego

  23. Bullitt Center Solar Energy Burnham-Moores Center, MSRE Program, University of San Diego

  24. Electricity Prices 2011: 6.72 cents/kWh Burnham-Moores Center, MSRE Program, University of San Diego 2011 Rate Source: Seattle Seattle City Light

  25. National Payback Forecasts on PV 20-30 Years Burnham-Moores Center, MSRE Program, University of San Diego

  26. Summary • “If the building is still the highest-performing one of its kind 10 years from now, the experiment will have failed.” –Denis Hayes • Reaching for Living Building Challenge • 12 months to prove it Burnham-Moores Center, MSRE Program, University of San Diego

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