Burnham-Moores Center for Real Estate
University of San Diego
Master of Science in Real Estate
Presentation
April 30, 2013
Thomas Bobo
Justin Farrar
Zabrina Johal
Please do not quote or use this presentation without appropriate recognition. Thank you!

“ The Greenest Commercial Building in the World ”
• GOAL: revolutionize how commercial buildings are designed and built and eventually turn a profit
• Opened on April 22,
2013—Earth Day!
• Living Building
Challenge
• Located at 15 th Avenue and East Madison
Street
Burnham-Moores Center, MSRE
Program, University of San Diego

Burnham-Moores Center, MSRE
Program, University of San Diego

Major Players
• Owner – Bullitt Foundation
– Established in 1952 by Dorothy S. Bullitt
– Inherited 28% of the King Broadcasting Stock in 1989
– Devoted to protecting and restoring the environment of the
Pacific Northwest
– Leases half of the top floor (6 th )
• Architect – The Miller Hull Partnership
– Established in 1977
– Emphasis on socially responsible and human public architecture
– Diverse assortment of projects
– Reputation is based on simple, innovative and authentic designs
• Developer – Point 32
– Delivers quality buildings, strong financial returns, and pride of ownership
– Leases the entire 4 th Floor
Burnham-Moores Center, MSRE
Program, University of San Diego

The Bullitt Center: Worth Every Penny for Tenants with Similar Intrinsic Values
“ We aren ’ t making the move due to dollars and cents, but because we want to be part of something pioneering that reflects our values.
”
- Bullitt Center Tenant
• Bullitt Center Drivers
– State of the art demonstration
– Goal: build the greenest possible building ever built
• “ A little pricey ”
– Construction costs added up to $355/sf ($55/sf more than typical)
– Slightly less than most new building downtown
• Located 1 mile east of downtown – far removed from amenities
– Does not appeal to the typical tenant
• Appeals to first-of-a-kind adopters with “ green ” values
Burnham-Moores Center, MSRE
Program, University of San Diego

Multi-Tenant 50,000 S.F. Office Building
• The building was preleased and open to the public
• Tenants started moving in March 2013
• Multi-tenant – 80% leased
2
5
6
3
4
Floor
1
Tenant, Current Leasing Status
Leased - International Living Future Institute,
University of Washington Integrated Design Lab
Interchange Media Art Productions (400 sf), ~ 2k square feet remaining
~ 8k square feet remaining
Leased – Point 32 (desk subletting)
Leased - Intentional Futures
Leased - 50% Bullitt Foundation
Burnham-Moores Center, MSRE
Program, University of San Diego

Project Realization
• Bullitt Foundation
• Education partners: University of Washington and Cascadia
Green Building Council
• Department of Planning and Development
• New Market Tax Credits
• US DOE and Pacific Northwest National Laboratory
• Tenants
• Still seeking philanthropic partners to fully realize the vision –
Center for Energy and Urban Ecology and McGilvra Place Green
Infrastructure
Burnham-Moores Center, MSRE
Program, University of San Diego

Awards and Certifications
• Projected to meet the Living Building Challenge
– Site, water, energy, health, materials, equity and beauty
– Performance-based and evaluated after one year of operation
• 2012 Forest Stewardship Council Design & Build Award
– Use of sustainable lumber
• 2012 Seattle AIA Award
– Best in sustainable design
• LEED Platinum
Burnham-Moores Center, MSRE
Program, University of San Diego

Design
Materials
Regulation
1) Energy consumption
2) Energy generation
Safe, non-toxic, and durable materials
Rainwater use, roof overhang, restrooms
Burnham-Moores Center, MSRE
Program, University of San Diego

Burnham-Moores Center, MSRE
Program, University of San Diego
All image sourced from Bullitt
Building official blog

• Phoenix Composting Toilets from Advanced Composting
System of Whitefish,
Montana
• Saves water, energy, and eliminates nutrient release into the watershed
• Unique to commercial buildings
Burnham-Moores Center, MSRE
Program, University of San Diego

Seattle
Annual rainfall: 38.6 in
Cloudy days: 225
Rainy days: 150
Burnham-Moores Center, MSRE
Program, University of San Diego

False color imaging of a photo taken inside a physical model of the level 2 mezzanine provides visualization of luminance levels and the influence of a skylight.
Daylighting analysis of early atrium scheme showing limited daylight effects on levels 5&6
Burnham-Moores Center, MSRE
Program, University of San Diego

ceiling height
11 ’ 6 ” ceiling height
N
Orientation
14 ’ 2 ” ceiling height
77% of floor has daylight levels below the 2% daylight factor
38% of the floor area has daylight levels below the 2% daylight factor
39% increase
Burnham-Moores Center, MSRE
Program, University of San Diego

• City of Seattle has not approved treated rainwater to be used as a potable source.
• Ownership of rainwater is contentious issue.
Burnham-Moores Center, MSRE
Program, University of San Diego

• Water Capture:
– Seattle has a higher annual rainfall (measured in inches) than how many of these cities?
1. Boston
2. Atlanta
3. Nashville
4. NYC
5. New Orleans
6. Houston
Burnham-Moores Center, MSRE
Program, University of San Diego

39
43
Avg. Annual Rainfall in Inches
64
50
48 49 48
Seattle Boston Atlanta Nashville NYC New
Orleans
Houston
Source: Denis Hayes interview, NOAA
Burnham-Moores Center, MSRE
Program, University of San Diego

Seattle: Less than a penny a gallon
• Off-Peak (Sept 16 – May 15) = $4.50 / CCF
• Peak (May 16 – Spet 15) = $5.72 / CCF
Source: Seattle Public Utilities District
Burnham-Moores Center, MSRE
Program, University of San Diego

• “This is a market rate project”
– Absorption was in line with expectations
– 80% occupied at opening
• Core & Shell costs = $18.5 Million
– That’s $355/sf
– “More of a warm shell”
– Plan to “normalize” costs for comparison
Burnham-Moores Center, MSRE
Program, University of San Diego

Burnham-Moores Center, MSRE
Program, University of San Diego

Burnham-Moores Center, MSRE
Program, University of San Diego

• White roof = 15% cooling load savings
• Solar = “Net Metering”
– 30% Federal grant toward PV purchase
– Federal Tax Credit for up to 30% of installation cost of
PV system
– 100% rebate on
Sales & Use Tax for installation
Burnham-Moores Center, MSRE
Program, University of San Diego

Burnham-Moores Center, MSRE
Program, University of San Diego

2011: 6.72 cents/kWh
2011 Rate Source: Seattle Seattle City Light
Burnham-Moores Center, MSRE
Program, University of San Diego

20-30 Years
Burnham-Moores Center, MSRE
Program, University of San Diego

• “If the building is still the highest-performing one of its kind 10 years from now, the experiment will have failed.” –Denis Hayes
• Reaching for Living Building Challenge
– 12 months to prove it
Burnham-Moores Center, MSRE
Program, University of San Diego