Page 246 - The Green Building Bottom Line The Real Cost of Sustainable Building

224 CHAPTER 7

Melaver, Inc. Real Estate Investment Guidelines

I. We will give preference to urban, infill projects that are catalytic to
positive redevelopment of the surrounding area in a manner that re-
establishes/reinforces the community fabric.

II. We will consider a project outside of the urban landscape under the fol-
lowing conditions:
a. If it is catalytic to preservation, conservation, or responsible devel-
opment in the face of unrestrained growth;
b. If there is a compelling social benefit associated with the project that
supports the community fabric, in which case we will still seek to
develop in as sustainable manner as possible;
c. If it promotes equal access to quality of life.
III. We will not develop greenfield sites. In the context of being a viable, sus-
tainable developer, “greenfield” means:
a. Virgin forest;
b. An area that would require substantial land disturbance of previously
undisturbed areas;
c. An area that encompasses endangered flora or fauna (rural or urban);
d. An area where development would change the historic character or
communal fabric of the area;
e. Land where development would negatively impact migration routes,
productive farmland, productive forest land, critical habitat, or unique
ecological features.
Where we have the ability and resources available, in instances where we
are presented with a project in a greenfield location to which we are opposed,
we will attempt to influence local zoning and legislative action so as to min-
imize the negative impact of developing the property.
Melaver will pursue third-party verification of all projects. Today, this means
LEED, but the company will also consider other pre-vetted standards such
as EarthCraft, etc. To prevent situational application of a standard, and to dis-
courage the use of standards that have become outdated, diluted, or irrele-
vant, we will review our standards annually and identify which standards will
apply in the coming year.

reminder to employees of the standards that are expected. Melaver’s real estate guide-
lines are a part of every investor package we distribute. We want to ensure a clear
alignment of expectation: our investment partners know what to expect of us; we know