The mission for my Wild Gift Project – Entegra Development & Investment LLC – is to lead the field of environmentally sustainable development in the market sector of small-to-medium scale residential and mixed-use construction by 2015. Armed with a MBA from Babson College and BA from Dartmouth College, I created a profitable real estate firm dedicated to community development, sustainable design, and environmental stewardship. By employing green design practices, I hope to reshape the way real estate development is conducted. Entegra is currently engaged with local and global real estate companies and corporations as a third-party design consultant, assisting these groups in achieving green building certifications for their ongoing construction projects. These projects are registered with the USGBC’s LEED Certification program and range widely in scope, scale, and sustainable impacts. Of note, Entegra has worked with global corporations such as Verizon, Covidien, TD Bank, Bank of America, and Liberty Mutual on both Commercial Interiors and Existing Buildings certification programs. Entegra is often contracted by members of the design and construction teams to assist in navigating the LEED application process.
In a typical LEED office environment, Entegra seeks to:
1) Offset electricity usage by 100% through the procurement of Green Power SRECs;
2) Reduce water consumption by 30-35% by utilizing low-volume fixtures;
3) Reduce lighting power needs by 15-25% through hi-efficiency fixtures and improved natural lighting; and
4) Reduce HVAC requirements by 10% or more by implementing more modern technologies and improved duct designs.
As developers, Entegra, along with Massachusetts-based partners The Manzo Company and Tambone Investments, has recently completed the acquisition of a 1.15 million square foot portfolio of properties in Massachusetts. The portfolio consists of four properties, each with unique physical characteristics and tenancy. Of particular interest to Entegra is the Station Mills Complex in Walpole, MA. This 300,000 square foot mill complex, consisting of eight separate two- and three-story masonry buildings, will be the basis for Entegra's vision of green, community-based, redevelopment projects. The complex is directly adjacent to the MBTA Commuter Rail into Boston, and tucked in the center of Walpole's growing downtown “Main Street.” The long-term goal for this complex is to maintain existing office uses, expand parking capacity to benefit the MBTA's ridership, and construct new low-energy buildings that weave into the fabric of downtown and infuse new densities and new residential uses; contributing toward a “live-work-play” environment.
In addition to Walpole, Entegra is pursuing many other commercial-scale redevelopment projects in New England, all with a focus on energy reductions, town center “in fill” redevelopment, public transit locations, and sustainable construction.I am continually looking to form new partnerships, to source new projects, and to place capital. I am building a pipeline of 4 potential transit-oriented developments in Massachusetts which all need funding. If all 4 projects come to fruition, I would need roughly $20M to $25M in equity investment ($5M-$6M each). These projects would touch thousands of other lives and be models of energy efficient and environmentally sensitive construction. I am targeting pretax IRRs in the 17-19% range with a 5-7 year hold.