Cherokee’s GreenHome Wins Highest EnergyValue Housing Award

Orlando, Fla. – With construction of its National Homebuilder Mainstream GreenHomeTM nearly complete, Cherokee was honored at the 2008 International Builders Show (IBS) with the 2008 Gold EnergyValue Housing Award (EVHA), the highest honor bestowed upon a home by the National Association of Home Builders Research Center (NAHBRC) and Department of Energy (DOE). The DOE’s National Energy Renewable Laboratories (NREL) and the Research Center presented Cherokee with a Gold Award for successfully integrating cutting-edge, energy-efficient features into all aspects of the project.

The Mainstream GreenHome, an idea home geared to show builders and homeowners that green ideas can be compatible with traditional design and mainstream builder and buyer expectations for aesthetics, comfort, and convenience, is expected to be net-zero-energy, producing more energy than it consumes. The home uses 50 percent less fossil fuel than a conventional home and features an innovative combination of systems that maximize the use of solar energy.

Cherokee, a global private equity firm investing capital and expertise in the sustainable redevelopment of brownfields and under-utilized property, managed the construction of the home as a learning tool for itself and builders. The home will be a unique resource to Cherokee, which hopes to green its entire redevelopment process – from ground remediation to sustainable neighborhood design and construction.

Cherokee Senior Director, Jonathan Philips, who oversaw the Mainstream GreenHome project, was on hand to receive the EVHA honor.

“We are deeply appreciative of this recognition by the NAHB Research Center and being grouped with some our country’s most innovative sustainability thought leaders,” said Philips. “Our hope is that our project will serve not just as a tool for the builders, planners, architects and developers with whom we work on our redevelopment sites, but as a resource for people across the country who are trying to incorporate green ideas into mainstream design.”

The evening’s awards brought together industry and government, highlighting the significance of sustainable housing in both arenas. Bob Jones, Vice President/Secretary of the National Association of Home Builders (NAHB) and John Mizroch, Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy for the U.S. Department of Energy (DOE) were co-keynotes for the ceremony.

Michael Luzier, President of the NAHB Research Center said, “Cherokee is a pioneer in its field. Clearly, with the support of progressive investors like Cherokee, the home building industry’s efforts to expand energy efficiency and green building have taken hold and will continue to make a positive difference for future generations.”

The EVHA honor is one of many recent accolades for the Mainstream GreenHome. It received one of the best scores in ENERGY STAR’s Home Efficiency Rating System, is certified as the highest rated green residence in the history of the state’s North Carolina Healthy Built Homes program and won the first ever Gold Award by the Green Home Builders of the Triangle. The home is also the first in the nation known to be built in a typical subdivision under National Association of Homebuilders (NAHB) Model Green Home Building Guidelines.

For more information about project features for the Mainstream GreenHome, please visit www.mainstreamgreenhome.com.

About Cherokee

Cherokee is the leading private equity firm investing capital and expertise in brownfield redevelopment. For more than two decades, Cherokee’s executive team has produced strong financial returns while delivering positive environmental and social results. Cherokee has invested in more than 525 properties worldwide. The firm has more than $2 billion under management and is currently investing its fourth fund.

The company has evolved its leadership role in the reclamation of brownfields by applying expertise, creativity and resolve to the sustainable redevelopment of properties after remediation.

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