Albanese enters final strait in Battery Park building.

Construction is underway at The Visionaire, the Albanese Development Corp's final green residential tower in Battery Park City.

It is the third green apartment building in the BPC portfolio that includes the pioneering Solaire and the Verdesian and closes a chapter of building that cemented the firm's work on a different playing field.

"When we first went about building green, we were challenged by the opportunities presented by Battery Park City and approaching building from a different standpoint. It made a lot of sense of us to approach buildings from an environmentally conscious perspective," said Russell Albanese, president of ADC.

"As we have gotten involved with green design, there has been an evolution that has taken place, taking both the internal impacts of green elements on the building and on the environment at large, and approaching these projects in a more holistic way. As time goes on, we are going to continue to see more of this integration into mainstream design," he said.

Battery Park City--which was built on the landfill of the former World Trade Center--became a green testing ground for architects and developers about five years ago when the sustainable building movement was just gathering momentum. Developers hedged bets that promised long-term energy savings and the uniqueness of the trend would cause buyers to invest more, thus offsetting proportionally higher green construction costs. If the 35-story Visionaire is any indication--where penthouses may run up to several million dollars--buyers once chomping at the bit of the green trend are now racing on the track paying high prices that not only offset construction tabs but have exceeded developer's wildest predictions.

"The costs definitely get made up. In the market today, when you talk about the quality of the buildings I think the consumer expects more in terms of typical luxury amenities and finishes. They are concerned more with the type of air quality that will be in the building, the effects of the building on the environment. When you look around at all the interest you have in companies like Whole Foods and hybrid vehicles, you can see where consumer preferences and trends are focussed," Albanese said.

When the Visionaire is complete sometime in 2008, it is expected to earn a platinum LEED rating--the highest rating offered by the US Green Building Council--that will continue to build upon Albanese's reputation for breaking records. The Solaire, set the bar high in 2003, when it became the first residential tower in the country to obtain a Gold rating.

"This project is really a culmination of the two other buildings. It includes everything that the first two included but more in terms of energy efficiency and finishes and spectacular architecture by Pelli Clarke Pelli Architects," Albanese said.

As green building changes, so do guidelines set by the US Green Building Council. While the Visionaire was designed to be 35% more efficient than code just as the Solaire was, the code was revamped in 2004 and is now more stringent. The Visionaire will include an HVAC ventilation system that filters fresh air into each apartment and new technologies such as solar panels. 35% of the building's electrical power will be purchased from energy providers using wind and other renewable energy sources. The residential cooling system will be powered by natural gas.

Though ADC is not planning any more projects in Battery Park City, the firm has already branched out, completing a green office building in Garden City, New York. It will continue to participate in green building projects in the future, Albanese said.

"It's a lot of effort, but it's very worthwhile. It takes a tremendous commitment on the part of our firm and all the firms doing these kinds of projects, but we think it's worthwhile. We think it will lead to higher long term values for buildings."