396 Alhambra Reaches Green Gold with LEED Certification

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CORAL GABLES, Fla. — Nov. 3, 2009 — 396 Alhambra has attained the Leadership in Energy and Environmental Design (LEED)™ Gold-level Pre-Certification, a unique distinction shared by only a few projects in South Florida.

“396 Alhambra is the first LEED Pre-Certified building in Coral Gables,” said Brian Gitlin, LEED Accredited Professional who is overseeing LEED implementation of 396 Alhambra. “The building will be energy efficient, employ water efficiency practices and engage in responsible waste management practices, among other green features. 396 Alhambra proves that Class A office projects and sustainable building practices can work, and combine to create better developments.”

The LEED certification is a green building rating system developed by the Washington, D.C.-based U.S. Green Building Council. The certification includes base building elements such as structure and building-level systems including central HVAC. Pre-certification is formal recognition of the goal to develop a LEED-certified building.

“Striving for the Gold certification recognizes the values of today’s premier companies, which are regularly seeking opportunities to reduce their carbon footprint,” said Hector Fernandez, CEO of 396 Alhambra. “396 Alhambra will give our tenants the Class A amenities they demand in an office tower that will meet their sustainable expectations.”

396 Alhambra will offer floor plans up to 31,000 square feet, upscale amenities and a new 7-story parking garage. The developer is 396 Alhambra LLC, a joint venture of Alhambra Investors LLC and Agave Florida Investments LLC.

Preliminary work on the project began in February with an expected completion date of spring 2010 for Phase I and spring 2011 for Phase II. The project includes two office towers totaling 273,000 square feet, with the first four floors of a new tower linking to the existing tower on the corner of LeJeune Road and Giralda Avenue. Construction of the $130 million project is expected to generate 925 jobs. Balfour Beatty has been hired as construction manager. Fullerton Diaz, the award-winning design firm, is the architect.