Albanese Organization honored for green development.

At an event that kicked-off a week-long celebration of Earth Day 2003, Earth Day New York and the Natural Resources Defense Council honored the Albanese Organization with the Environmental Business Leadership Award, for its development of The Solaire, the country's first environmentally sustainable residential tower.

AO president Russell Albanese received the award at a ceremony at Grand Central Station on April 21, where Senator Hillary Rodham Clinton and Representative Jerrold Nadler were named "Public Officials of the Year, " Dr. Stephen M. Levin was honored for his work in providing medical care to thousands of people in the wake of the World Trade Center attack, and New York Daily News columnist Juan Gonzalez was awarded for "Excellence in Environmental Reporting." All of the awardees contributed to the health and environment or restoration and rebirth of Lower Manhattan.

Citing The Solaire as a "shining symbol for the future of downtown," Earth Day New York executive director Pamela Lippe said, "Even faced with 9/11, the Albanese Organization stayed the course and continued development of The Solaire without any cutbacks to its green features for that alone they deserve enormous recognition."

Located at 20 River Terrace in New York's Battery Park City, The Solaire has been environmentally engineered to consume 35% less energy, reduce peak demand for electricity by 65%, require 50% less potable water, provide its residents with healthier indoor air quality and offer substantially more natural light than typical residential buildings.

Among the most innovative environmental features of the new landmark building are: Photovoltaic cells integrated within the exterior walls capable of generating five percent of the building's base electric load. Filtered fresh air supply to each residence. An air conditioning system fueled by natural gas and free of ozone depleting refrigerants.

On-site black water system to supply the HVAC cooling tower and eliminate the use of potable water for the building's flush system. Storm water catchment system to irrigate the rooftop garden. A complete building management and monitoring system that will control and monitor air quality and energy performance.

The use of building materials free of formaldehyde and containing low or no VOC's and high recycled content, or manufactured with renewable or rapidly renewable resources.

Albanese said, "We are honored to have been selected for this prestigious distinction by Earth Day New York and the Natural Resources Defense Council."

The building's dedication to energy efficiency, air quality, water conservation and conservation of the Earth's other natural resources is earning The Solaire broad acclaim as one of the most significant residential real estate development projects in the U.S. today. It is also serving as a model for global sustainable development and is attracting the attention of governments, private developers and the international "green" community.

In September 2002, The Solaire was showcased by the U.S. Department of Energy at the Sustainable Building 2002 Conference in Oslo, Norway, as a global model for "green" multifamily design and construction. In November, it was the launch site for an international initiative on sustainable building guidelines by former Soviet President Mikhail Gorbachev, now President of Green Cross International, and the Battery Park City Authority Later that month, the U.S. Green Building Council invited AO President Russell Albanese to deliver a presentation on "green" multi-family housing at its inaugural International Green Building Conference in Austin, Texas.