How to Achieve Sustainability Goals
September 18, 2023
It’s one thing to purchase and redevelop a property in the hope that new tenants will find it suitable for their operations. It’s quite another to purchase old industrial sites and redevelop them so their tenants and the communities they are in can meet their sustainability objectives. That’s the role Hilco Redevelopment Partners (HRP) is playing in Boston, Chicago, Philadelphia and other locations nationwide, where former coal-fired power plants, refineries and other defunct facilities are being redeveloped into a multitude of projects that help occupants and the neighborhoods they are in achieve their sustainability goals.
“There are several examples of where we’ve built cutting-edge, sustainable projects that the tenant market has found to be very attractive,” says Melissa Schrock, HRP’s executive vice president, mixed-use development. “One is in Chicago, where we built a distribution facility for Target, which is the largest LEED-certified, green industrial building in Illinois. It responds to our sustainability goals as a company, what cities and states want and what tenants are requesting as well.” The former Crawford Power Generating Station site is now a nearly 1-million-square-foot warehouse and distribution center for the retailer that employs about 2,000 people.