Archive for January, 2009

Our goal at Redstone is to conserve energy throughout our portfolio of properties. Energy efficiency benefits Vermonters in two ways: first, using less electricity lowers the bills of companies who take steps to reduce their power use; second, and more importantly, when statewide use goes down, it reduces electric utilities’ total costs, which would otherwise be paid by all electric customers through rates. With the help of Efficiency Vermont we have taken major steps in saving precious electric energy in several of our locations. Projects completed in 2008 are projected to save $20,840.00 in electric costs  in 2009!  For more information, including technical advice, education, rebates and other financial incentives for businesses go to www.efficiencyvermont.com.

One of Redstone’s primary lines of business is real estate development.  We often get asked, “What is real estate development?”  The answer isn’t simple.  Real estate development is a complex business ranging from renovating existing buildings to improving raw land.  Many developers specialize in a particular market segment such as office development, industrial development, retail development, single family home building or multi-family development.  Some developers specialize further within these practice areas by focusing on suburban office parks, urban high rise office buildings, luxury homes, condominiums, apartments, shopping centers, historic rehabilitation, etc.  Generally, developers coordinate all of the activities involved in real estate development from concept to completion.  These activities include site identification; due diligence prior to acquisition; managing design consultants; navigating the public approvals process (also referred to as securing entitlements); coordinating construction; facilitating the legal structure to create investment partnerships and prepare real property for sale or lease; securing investment capital in the form of both debt and equity; and a myriad of other activities.  Some developers act as there own construction manager or general contractor while others rely on third party construction companies.  Real estate development requires patience, perseverance and expertise in a constantly changing environment.