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Related WestPac joins with town of Snowmass Village to announce collective commitment to environmental sustainability

Developer Announces Bold Series of Sustainability Initiatives Partners with Acclaimed Rocky Mountain Institute to Pursue Innovative Sustainability Solutions Related WestPac today announced an initial series of sustainability initiatives that will create a cleaner, greener environment throughout the Snowmass Village redevelopment. Related WestPac detailed their efforts at a luncheon with Town of Snowmass Village Mayor Doug (Merc) Mercatoris and Councilman John Wilkinson, which celebrated their collaborative commitment to environmental sustainability. They were joined by President and CEO of the U.S. Green Building Council S. Richard Fedrizzi and former New York Governor George E. Pataki.

Related WestPac is currently developing 80 acres comprised of residential units, world-class hotels, retail, entertainment and restaurant amenities surrounding the renowned ski area in Snowmass Village, Colorado. The first stage of sustainability initiatives includes eight signature elements: Partnership with celebrated Rocky Mountain Institute to pursue innovative sustainability solutions; participation in the new LEED (Leadership in Energy and Environmental Design) for Neighborhood Development Pilot Program; LEED certification for all buildings going forward; LEED silver certification of Base Village Hotel site; siting of new carbon-free renewable energy sources; cleaner construction practices and traffic reduction initiatives that will improve air quality and minimize environmental impacts; appointment of a Sustainability Specialist--a new dedicated senior official to ensure sustainable design implementation and to create and employ further sustainability efforts; and formation of a Sustainability Stewardship Committee led by Town of Snowmass Village and the community in partnership with all present and future stakeholders including Related WestPac and Aspen Skiing Company to expand and compound sustainability efforts.

Pat Smith, President of Related WestPac said, "When our buildings are constructed in a manner that is respectful of the surrounding built and natural environment, the overall fabric of our community is enhanced. The cleanest energy is the energy we don't use. In partnership with Rocky Mountain Institute, we will aggressively pursue the most efficient use of energy as well as the cleanest renewable resources available including carbon neutral technologies, biofuels and solar-based energy. As part of the Snowmass community, we have an opportunity and an obligation to shape its future through ingenuity and innovation. In collaboration with the Town of Snowmass Village and Aspen Skiing Company we will help build a stronger brighter future for our community."

Jeff Blau, President of Related Companies said, "Snowmass Village has a tremendous heritage built on its awe-inspiring natural beauty and unique geographic, historic and cultural elements. The initiatives we announce today will be just the beginning of our long-term commitment to create a new model of community living anchored in sustainability. Throughout the redevelopment, we will embrace innovative technologies and constantly push the boundaries of clean, green progress. Simply put, sustainability is about seeking a better quality of life for everyone."

In developing its sustainability efforts, Related WestPac has been advised by former New York Governor George E. Pataki in his new role as Founder and Chairman of the Pataki-Cahill Group. Governor Pataki is widely known for protecting over one million acres of open space, sponsoring the first mandatory cap and trade carbon initiative (which now includes ten Northeastern and Mid-Atlantic states), instituting the nation's first green buildings tax credit program and working to ensure the redeveloped World Trade Center site will be a global example of green building design. The Governor also created a public-private partnership for clean energy generation that resulted in one of the largest demonstrations of industrial solar power in the U.S., and one of the largest wind-power arrays in the east as well as two cellulosic ethanol production facilities and two clean coal plants currently under development.

Former Governor George E. Pataki said, "It is encouraging and inspiring to see this type of commitment by the private sector to further environmental sustainability. Related WestPac has begun exploring innovative ground-breaking technologies that will engage the community and propel sustainability efforts forward. Broad participation is a key component to sustainability and the shared vision of Related WestPac, the Town of Snowmass Village and Aspen Skiing Company will motivate action and accelerate progress toward a stronger and healthier environment in Snowmass Village. No one developer or local government can do it alone. We must continuously commit to work together to develop our communities for the future and pursue a cleaner environment, a more secure nation and a safer world."

Related WestPac is a joint venture partnership of Related Companies, a fully integrated private real estate development company, and WestPac Investments Colorado LLC, a diversified real estate investment and development company.


About Related Companies: Heralded as one of the most prolific and visionary developers in the country, Related Companies was formed over thirty-five years ago. Today Related is considered the most prominent privately owned real estate development firm in the United States, headquartered in New York City with divisions in development, acquisitions, property management, marketing and sales. In 2004, Related completed the development of New York City's newest landmark, Time Warner Center. Related has offices and major developments in Miami, Los Angeles, San Francisco, Chicago and Boston and boasts a team of more than 2,000 professionals. To date, Related has real estate assets worth over $15 billion with another $9 billion currently in development. In Los Angeles, Related is expanding its portfolio with The Century, a super-luxury condominium in Century City and the Frank Gehry-designed Grand Avenue development, situated directly across from the beloved Walt Disney Concert Hall, which will include luxury residences, retail, notable restaurants and a world class hotel.

About WestPac Investments, LLC: WestPac is a privately held investment and development company doing business in five Western States. WestPac is a co-developer of The Residences at The Little Nell. The company's focus is residential in all forms, including single family, multifamily dwellings ranging from student housing to market rate apartments as well as senior housing. WestPac also develops condominiums and hotels. WestPac excels in the development and operation of commercial real estate, as well, including office buildings, medical facilities (which include award-winning Alzheimer facilities) and retail. WestPac is vertically integrated in the management and operation of the properties they develop. WestPac Investments has built a variety of green developments in California and New Mexico. In San Luis Obispo California, WestPac built the LEED-certified De Tolosa Ranch, a 148-home green development and Broad Street, a mixed use development consisting of residential units, commercial and retail space.

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