Ben Myers, senior vice president, sustainability at BXP (NYSE: BXP), sat down for a video interview at Nareit’s REITworks: 2024 Sustainability & Social Responsibility Conference, held in McLean, Virginia from Sept. 10-12, where BXP was awarded Nareit’s 2024 Sustainable Design Impact award, part of the inaugural Sustainability Impact Awards.
BXP’s 140 Kendrick Street, its conversion of a 20-year-old office building to a net-zero facility, has set a high standard for the real estate sector. It’s the first net-zero, carbon neutral office repositioning of its scale in Massachusetts. The project demonstrated the potential of retrofitting older properties for carbon neutrality without relying on complicated financing or shortcuts. BXP says that Building A exemplifies a high-performance workplace reflected in LEED v4 Gold and LEED Zero Carbon project targets.
The project in Needham was completed in partnership with the tenant, Wellington Management, which leased the building in 2021. The scope of the renovation project included full electrification, improvements to the building envelope, advanced energy recovery systems, modernization of the mechanical system, and the addition of on-site renewable energy generation.
The key driver for the Building A retrofit was the alignment of ESG ambitions of both BXP and Wellington Management, to create a state-of-the-art, efficient, LEED Zero Carbon building that provides its clients with a safe, comfortable, and productive environment. The collaboration ensured environmental and social excellence continued at all subsequent design and retrofit stages, with both parties focused on the sustainability features of the fit-out synergistically to provide the best possible space for Wellington Management's employees.
Building A prioritizes client well-being by providing first-class amenities, BXP says. “The Exchange” is available to all clients and includes collaboration space, outdoor access, two bike stands for storage, outdoor seating, and access to nature and views. In addition, biophilic elements are provided by a roof deck and green roof.
The award-winning project included electrifying HVAC systems, improving insulation, sealing the building’s thermal envelope, and adding onsite solar generation and energy storage. The converted building now produces more energy than it consumes, a remarkable achievement Myers credited to “a clear alignment of a client, an owner, and a developer.”
The site is located next to Cutler Park, a 600-acre nature preserve and public recreation area. Transportation systems surrounding 140 Kendrick promote sustainable transport and mobility. BXP and Wellington will survey transportation and bike lane connectivity and will offset commuting emissions as part of the LEED Zero certification process.
“My hope is that this serves to inspire and make us more curious about who we are and what we can achieve as an industry,” Myers said.
Looking forward, BXP aims to advance its sustainability initiatives, focusing on carbon-neutral operations, new energy and water reduction targets, and addressing transition risks associated with evolving building performance standards across major U.S. cities.
“Sustainability isn’t just the right thing to do. It’s the smart thing to do,” Myers said, underscoring BXP’s commitment to ambitious yet cost-effective sustainability strategies that benefit stakeholders and the communities they serve.