One of the foremost developers, owners and operators of distinctive urban real estate in New York, Forest City Ratner Companies is committed to projects that enhance local communities and encourage economic development. Based in Brooklyn, Forest City Ratner Companies serves as the New York office of Forest City Realty Trust, Inc.
In Manhattan, our properties include:
The New York Times Building, offering Class A office space and ground-level retail and designed by the world-renowned Renzo Piano Building Workshop of Genoa and Paris, in association with FXFowle Architects of New York.
New York by Gehry at 8 Spruce Street, a 76-story residential building in Lower Manhattan, designed by renowned architect Frank Gehry.
In Brooklyn, our properties include:
MetroTech Center, a corporate campus located in downtown Brooklyn, just minutes away from Wall Street. Office towers with ground-floor retail surround a park-like open space that lends a campus feel to the development.
DKLB BKLN, a 34-story residential rental tower with views of the Manhattan skyline, New York Harbor and Brooklyn. As a part of Forest City's commitment to sustainability, it is LEED Silver certified by the U.S. Green Building Council.
STAMFORD, CT--(Marketwired - December 03, 2015) - Revolution Lighting Technologies (NASDAQ: RVLT), a leader in advanced LED lighting technology solutions, today announced that its operating division, Tri-State LED, provided RVLT G3 LED tubes for a two-phase LED retrofit project of the parking facilities at Westchester's Ridge Hill shopping center, located in Yonkers, NY. The property is managed by Forest City Ratner Companies.
The first phase of the project was completed in Q4 of 2014, and included a retrofit of two parking garages with RVLT's G3 LED tubes. The second phase was completed in Q3 2015, and involved a retrofit of three additional parking garages and the rooftops. Total cost for both phases was $545,000, and the payback after project incentives will be only two years. Tri-State worked closely with both Forest City Ratner Companies, and project electrician, All Bright Electric, achieving its core project goals:
Reduce operating expenses through superior efficiency. RVLT's LED tubes are 60% more efficient than fluorescent, and will save $1.5M over five years.
Reduce ongoing maintenance costs through LED's superior lamp life of 70,000 hours, combined with a 10 year warranty.
Positively impact light pollution, limiting diffusion of light throughout surrounding areas.
Enhance garage safety through LED's increased light output versus fluorescent lighting.
Address environmental initiatives to reduce CO2 emissions through LED's superior efficiency.
"Tri-State was extremely supportive in addressing the complex needs of this project and took the time to facilitate all of our concerns. The project needed to meet environmental issues, light emission, quality of lighting, energy savings and reduced maintenance costs collectively. Each and every initiative was met and the coordination and scheduling of the project completed in a professional and timely manner," said Andrew Hardy, General Manager, Forest City Ratner Companies. "The product has not only offered substantial savings yielding long term NOI benefits but has provided a brighter, cleaner appearance in our garages providing our guests with an even greater sense of security and comfort."
The United States has approximately 40,000 parking garages costing owners more than $6 billion annually on lighting energy costs, representing a tremendous market opportunity for Revolution Lighting Technologies. In addition to RVLT's latest project with Forest City Ratner Companies, the Company has recently provided an additional $1,050,000 in LED lighting solutions for parking facilities/garages across the U.S., for a total of $1.6 million in projects over the past three months.
"We are excited to work with Forest City Ratner Companies to achieve their goals through the use of our market leading G3 LED tube, reducing energy use by more than 60% throughout their garage areas," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting."As the broad adoption of LED lighting continues throughout parking areas, selection of our G3 LED tube by Forest City Ratner Companies speaks directly to the quality and customer satisfaction that RVLT's LED products deliver reduced operating expenses, exceed environmental initiatives, and enhance safety through superior light quality."