Corporate Social Responsibility
Federal Realty is committed to running our business in an environmentally and socially responsible manner that balances consideration of environmental and social issues with creating long-term profitability for the company and value for our shareholders. Consideration of environmental and social issues is an ongoing, regular part of our thinking as we operate our business, whether it relates to administering our offices or to operating and redeveloping our real estate. Some of the examples of what we have done to promote environmental and social responsibility include the following:
Federal Realty strives to operate our properties in an environmentally sustainable manner whenever possible. Examples of our common practices include:
- Establishment of the Green Box architecture and construction contract standards to promote environmentally and socially responsible design and construction practices for work performed by Federal Realty. For more information, click here.
- Aiding in the creation of sustainable biofuels through our partnership with Greenlight Biofuels. For more than three years Federal Realty has been participating in a program that recycles restaurant oil and grease waste from Bethesda Row, our mixed use development in Bethesda, Maryland. Bethesda Row’s restaurants generate between 175,000 and 250,000 gallons of grease and oil waste per year. Historically, restaurants have the grease removed from their grease traps which are designed to collect the oil and grease remains from restaurant deep fryers, pots, pans, and grills. With the new solution, Greenlight Biofuels removes waste oil and grease at no cost to the restaurants. Greenlight Biofuels then recycles the grease into biofuel that is used to run cars, trucks, and other fuel-based systems. When biofuel is burned it produces approximately 50% less carbon that regular diesel fuel produces.
- Providing recycling and refuse receptacles at our centers to encourage recycling by consumers.
- Installation of heat-deflecting white roofing material on our centers. Use of high-efficiency LED and fluorescent lighting around our centers, in our parking lots, and with seasonal décor.
- Appropriate plant and landscaping selection using the USDA Hardiness Zone standards to ensure landscaping will need minimal water and chemical treatment.
- Most properties are accessible to the community without the use of a car as 89% of Federal Realty shopping centers are located within walking distance of public transportation.
In addition to the locations of our properties, the sustainable type of redevelopment we practice is also a key component of our business strategy. Unlike many retail property owners, Federal Realty is not a participant in “green field” development. Instead, Federal’s strategy is to acquire existing assets with opportunities to renovate and redevelop them in a sustainable way — both through the materials used and the unique place-making design of each center. Through our redevelopment design strategies, Federal Realty has also demonstrated an expertise in mix of uses. With mixed-use design, Federal Realty’s retail locations create destinations that both cultivate a community environment and allow patrons to live, shop, dine and work in an atmosphere which encourages sustainable practices by offering an assortment of services and products in one location.
Over the past three years, Federal Realty has completed three development projects which have received certification from the United States Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system.
- In 2008 we completed four two-bedroom townhomes at Linden Square in Wellesley, Massachusetts. These homes were the first residential new construction in the Boston area to be built LEED Platinum and feature photovoltaic solar panels, which provide up to 30% of the unit’s energy needs; carpeting, decking, countertops, flooring and light fixtures constructed from recycled materials; permeable pavements that allow water to re-enter the ground; and high-efficiency showers and toilets.
- In 2009 we completed 300 Santana Row in San Jose, California — an 80,000 square foot building is comprised of 65,000 square feet of Class A office space and 15,000 square feet of premium ground floor retail space. 300 Santana Row faces south to minimize sun exposure and features a double-skin curtain wall around the building to create natural insulation holding in heat in colder weather, and ventilating and circulating fresh air to cool the building in warmer weather. The building also has a sustainable water system which recaptures ground water for use in fountains around the property. 300 Santana Row was constructed to meet LEED Gold standards.
- Bethesda Row's latest addition is complete, and received LEED Gold Certification.
Going forward, Federal Realty strives to complete all new development projects with sustainable resources and to promote sustainable practices in the communities surrounding our centers. Future projects include:
- Participation in the transformation of the White Flint Corridor in North Bethesda, Maryland including the redevelopment of Mid-Pike Plaza. Through rezoning of over 420 acres, White Flint will be transformed from a car-oriented commercial district to a transit-oriented, pedestrian focused, mixed use community. By modifying the modes of transportation used around the property and decreasing vehicle miles travelled per capita, we will thereby be aiding in decreasing the community’s carbon footprint. The redevelopment of Mid-Pike Plaza will include an improved storm water management system to reduce flooding, stream channel erosion and pollution and all newly constructed buildings are intended to be LEED certified. For more information, please visit whiteflintpartnership.com.
- Development of Assembly Square a transit-oriented, mixed use community along the Mystic River in Somerville, Massachusetts. Assembly Square will also include construction of a new T-Stop in Somerville to promote the use of public transportation for residents and commuters in the Boston area.
Within our own offices, Federal Realty makes a daily endeavor to operate in a sustainable fashion and to promote environmentally conscious lifestyles for our employees. Examples of these practices include:
- Offices across the country are outfitted with video conferencing equipment, reducing the need for corporate travel and promoting virtual communication between offices.
- In 2010 Federal Realty will complete a virtualization of our network serves to a Storage Area Network (SAN) system, reducing the number of server machines by 7 times. This transformation will significantly reduce energy needed to maintain climate control in the server rooms and operate our technology systems.
- All regional offices are located within walking distance of regional transportation systems. At our headquarters in Rockville, Maryland, employees are encouraged to bike or walk to work as the office provides bike racks and shower facilities.
- Recycling is strongly encouraged with the use of recycle bins at each workstation, separate receptacles for recyclables throughout the offices and the purchase of recycled paper, paper products, and kitchen materials. Federal Realty also participates in recycling programs for ink toner cartridges and used computer equipment.
- Each year Federal Realty partners with charitable organizations in our community. In 2009, Federal Realty donated vacant store space to Dedham Food Pantry in Dedham, Massachusetts for their holiday food drive. In addition, Federal Realty hosts various events at our properties to benefit charitable organizations, including an ice skating fundraiser benefiting Cystic Fibrosis Foundation at Pentagon Row in Arlington, Virginia.
In short, our culture is one of environment and social responsibility and efficiency through and through. We take pride in the sustainable and socially responsible concepts we have employed over the years and endeavor to continually improve in that regard.