Member News: Chengdu’s West Village is First in China to Earn Parksmart Certification for Sustainable Green Parking Design and Operation

West Village is the first Parksmart certified project in Asia and outside of the U.S.

Through Parksmart certification, West Village is supporting sustainable transportation and mobility through innovative strategies that help to improve the health and well-being of its visitors.

CHENGDU – September 26, 2017 – Today, LimeTree and WE PARK (Huibo) announced that West Village has earned Parksmart Bronze from Green Business Certification Inc. (GBCI), the exclusive certification body for LEED and premier organization independently recognizing excellence in green business industry performance and practice globally. Parksmart is the world’s only rating system advancing sustainable mobility through smarter siting, design and operations while conserving resources. West Village is the first project in China and the first outside of the U.S. to receive a Parksmart certification. By incorporating sustainable practices and innovative solutions, the car park is helping to increase energy efficiency, conserve resources and promote alternative modes of transportation in China.

West Village is a multi-functional complex that houses businesses championing a creative lifestyle. It provides a comforting retreat from the fast-paced city and features a courtyard-style building with distinct culture-based commerce and an extensive sports field for outdoor activities. The below-ground car park includes more than 1,000 spaces and uses innovative and efficient technologies to create a unique and hassle-free parking experience. An online reservation and payment system reduces unnecessary idling; state-of-the-art electronic car charging stations promote the use of alternative fuel vehicles; and car park incentives and surveys encourage carpooling and ridesharing.

“With the West Village certification, it is truly an honor for WE PARK (Huibo) to be an industry pioneer in one of the largest, most dynamic, and innovative car parking markets in the world,” said Mark Cho, senior partner and CEO China, LimeTree Capital and WE PARK (Huibo). “Our organization has always been focused on the mission to help solve China’s massive urban parking dilemma.”

As part of the construction, West Village sourced at least 75 percent of its materials regionally and created a rainwater harvesting system that diverts rainfall to green infrastructure surrounding the building. In addition, there is an active recycling program onsite and areas that were not usable for parking were converted to self-storage for garage users.

“West Village is helping to reshape the transportation and mobility experience by applying sustainable and innovative strategies that help improve the health and well-being of its visitors,” said Mahesh Ramanujam, president and CEO, U.S. Green Building Council and GBCI. “Parksmart certification is a signal that WE PARK (Huibo) and LimeTree are dedicated to increasing energy efficiency, encouraging alternative transportation and strengthening community relationships.”

The West Village project will be celebrated at Greenbuild China in Shanghai on October 17. Greenbuild is the world’s largest conference and expo dedicated to green building and will be held in China for the first time October 17-18. Registration for the event is open.

Parking is one of the largest land uses in cities and with the number of vehicles expected to reach two billion by 2030, parking structures emerge as a transformative tool to drive sustainable mobility. Parksmart is modeled after LEED (Leadership in Energy & Environmental Design), the world’s most widely used green building program. Developed by industry experts and administered by GBCI, the rating system defines, measures and recognizes high-performing sustainable parking garages and provides a roadmap for new and existing facilities to implement innovative, solution-oriented strategies.

About WE PARK (Huibo)
WE PARK is the leading car park owner and operator in China bringing new technology, modernization, e-payments and high levels of customer service to parking in China’s major cities. WE PARK acquires existing car parks from developers within existing mixed use/office/retail developments and also hospital car parks and invests in modernizing and improving the car parking experience for customers. Electronic vehicle charging stations and Self-storage are two of the additional services WE PARK provides within the car parks. WE PARK owns 27 car parks, 14,000 car parking bays today across 8 cities in China. This will triple over the next three years.

About LimeTree Capital
LimeTree Capital is a US$1bn private equity/real estate investment manager specializing in under-researched real asset classes, where we can bring an institutional investment process. With offices and investment teams in Shanghai and Hong Kong, we invest in Car Park ownership and operations in China through dedicated investment funds and also invest in various asset re-positioning and beachfront land investment strategies in Japan and South East Asia. LimeTree manages money for institutional investors in the US, Europe and Asia.

About Green Business Certification Inc. (GBCI)
GBCI is the premier organization independently recognizing excellence in green business industry performance and practice globally. Established in 2008, GBCI exclusively administers project certifications and professional credentials and certificates within the framework of the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) green building rating systems, as well as the PEER standard for power systems, the WELL building standard, the Sustainable SITES Initiative (SITES), Parksmart, EDGE (Excellence in Design for Greater Efficiencies), TRUE Zero Waste Certification, Investor Confidence Project (ICP) for energy efficiency retrofits and the GRESB benchmark, which is used by institutional investors to improve the sustainability performance of the global property sector. www.gbci.org.