Sustainable development good for society, business.

As a businessman and real estate developer for more than 30 years, I have seen the results of doing business as usual. I am a third generation developer that has built shopping centers, single family homes, high-rise office buildings and apartment houses and have sold billions of dollars worth

The speculative development model of "least first cost buildings" that looks good and generates high rents seems to be a. thing of the past. The degree of due diligence and consumer protection in most areas of the building industry has forced builders and developers to produce a better product. In the face of these trends, I have dedicated myself to finding a better way of constructing buildings and protecting the environment as well.

My answer is through a company I have formed, ReNEWal Realty, which creates sustainable developments that marry smart investment strategy with sound environmental practices. In addition, I saw this opportunity as a good business strategy whereby our company would buy unused or underutilized properties with infrastructure (brownfields) and redevelop them for an extra environmental and business edge.

In the 21st Century we are finally recognizing the importance of the human communities connectedness to the larger ecological world.

The raw pursuit of material wealth with no regard for the rest of the world is being recognized for the destructive strategy it is. In New Jersey, former Governor Whitman had the foresight to create the first office of sustainability and get the people to pass the open space bond act. The State of California has created an investment fund of $500 million for double bottom line investing; both appropriate financial returns and social/environmental returns are required.

I see my role as a developer as integrating the resources of the ecosystem with the human community while continuing to make a fair profit for the risks I take and the work that I do. The power for smart growth comes from people who recognize our connection to the earth and take appropriate action in their business or in government.

Our sustainable development strategy at work is exemplified in Willingboro Town Center, a 700,000-SF, mixed-use facility, one of the largest "green" redevelopments taking place in New Jersey. The site, formerly known as Willingboro Plaza, was a dormant retail complex built in the 1950s occupied by tenants such as Sears, Woolworth's and Fox Movie Theater and was purchased by ReNEWal Realty in 1998.

The Willingboro Town Center development plan employs sustainable building practices in creating a mix of retail and commercial establishments, housing and community-oriented institutions. The Route 130 Corridor of Burlington County, in which the Willingboro Town Center project is located, consists of 12 municipalities, covering 59 square miles. The area lacks a central commercial node, the Willingboro Town Center can fulfill that role.

Much of the land area within the corridor is developed, presenting options for additional development that include in-fill housing and the redevelopment of abandoned or deteriorated properties. Willingboro Town Center is recognized as being a significant factor in revitalizing the Route 130 Corridor.

Willingboro Town Center will feature a new state-of-the-art, environmentally sustainable town library, residential housing, village greens, office space, daycare center, and over 175,000 SF of retail space. Renovations and an expansion began in September 2000 on the 160,000 SF former Boscov's department store by Sweetwater Construction Company on behalf of ReNEWal Realty and the purchaser, Merck-Medco. Opening this month, the 260,000-SF Merck-Medco facility will feature the largest automated mail-service pharmacy in the world at this location, introducing over 800 jobs to the community.

In addition, ground has already been broken for the 19,000-SF facility for Burlington County College, which is scheduled to open by July 2002. The college will utilize the facility as a branch of its main campus. The site will also feature a new, 42,000-SF, $6 million Willingboro library. The library will open by the end of 2001. The library will include an exhibition area and state-of-the-art auditorium. In addition, it will house a children's area, adult reading area, multimedia facility, computer room and abundant storage area. Situated next to the development's village green, a dedicated open space area with heavy landscaping, the library will be the first building to greet visitors at Willingboro Town Center as they enter the complex from Route 130. The new Willingboro library will be connected to the Burlington County College facility by a walkway. Approximately 18,000-SF of retail space will be adjacent to the new library facility.