Real estate is our passion and giving back to our community is our privilege and pleasure.
To us, investing in and managing assets means more than buying and owning and developing buildings and land, it means helping to enrich the lives of people and neighborhoods—leading the way through programs that foster internships for students from underserved communities, professional training, environmental sustainability initiatives, and philanthropy.
Penzance actively contributes to organizations that support communities in our own backyard as well as organizations around the world that align with our values.
We have a deep commitment to maintaining the trust bestowed on us by our investors, partners, and community. Rooted in this commitment, our ESG policy holds the Firm to the highest standards of social responsibility and integrity.
We strive to align our fiduciary responsibility to our partners and investors with our responsibility as global citizens to reduce our waste footprint and consumption of energy and water within our portfolio. We do this through regular monitoring and reporting on energy, emissions, water and waste levels at our assets and within our own headquarter space, by incorporating new technologies and sustainability practices into our construction and development projects as we strive for LEED or similar green building designations, and by partnering with our tenants to adopt sustainability practices within their own spaces.
Energy and Emissions
- In February 2022, The Aubrey at the Highlands achieved LEED Gold Certification under the United States Green Building Council’s standards and has also been recognized as the first LEED Gold Certified multifamily project in the region under the new LEED V4 requirements.
- Instituted a portfolio-wide energy monitoring system that enabled us to reduce energy usage by 9% within the first year
- Since 2019, the Firm has been testing clean energy sourcing by enrolling one of our assets in CleanChoice Energy, a platform that replenishes the energy grid with 100% wind or solar-generated kilowatts to offset kilowatts derived from the current energy provider to the asset. Through January 2021 for the one asset in the test, 246,861 kWh of clean energy has been added to the grid which is equivalent to:
- 37 cars taken off the road for a year OR 384,806 lbs. of carbon pollution reduction OR 2,886 trees planted for 10 years
- Instituted operating practices that are eliminating or diverting over 250,000 plastic trash bags and 8,000 lbs. of electronic waste from going into landfills annually
Green Building Designations
- The Highlands mixed-use development project is designed to achieve LEED Gold certification
- 3001/3003 Washington Boulevard achieved LEED Silver certification upon completion
- The crisis in Afghanistan has led to the displacement of nearly half a million of its citizens. As part of a global replacement effort, the United States has evacuated more than 75,000 Afghans since August 2021 through Operations Allies Welcome. Penzance has donated fully furnished housing at our Stone Pointe property to Afghan families seeking asylum. In 2022, we have provided shelter to three families totaling 13 individuals for over 60 nights.
- Women and minorities comprise 53% of employees and 75% of our 2019 internship class
- Partnering with Urban Alliance and KIPP DC to provide underserved high school and college students with internships at Penzance corporate and property management offices
Urban Alliance Residential Real Estate Property Management Pathway
- Committed as part of a public-private partnership with Arlington County to building a state-of-the-art fire station, road, and public park for the Rosslyn community as part of The Highlands mixed-use development
- Penzance in conjunction with its two most recent development projects in Arlington has committed to over $4.5M in contributions to help ensure affordable housing opportunities are preserved for residents of all income levels.
By taking a collaborative and inclusive approach to developing great places, promoting workplace diversity, and supporting local philanthropies we aim to leave a lasting positive impact in the communities we touch.
Providing alignment and transparency of investment activity is key to maintaining the trust of our investors and partners. We have invested heavily in oversight and control of audit, workplace safety, risk management, cybersecurity, and potential conflicts of interest.
- Implemented a rigorous cybersecurity program with focus on regular review and refinement of practices
- ESG committee formed to monitor policy implementation and compliance across the portfolio and firm
As a woman-owned company we know that diversity of experience fuels our innovation and brings us closer to our clients and the communities we serve.
These are the principles guiding how we build our teams, cultivate leaders and run our business. Our initiatives and strategies are designed to attract, develop, and advance the most talented individuals. We are proud that today more than half of our employees are women and minorities.
Fostering the Future:
We provide internship opportunities for local students from underserved communities with interests in real estate careers. This opportunity offers hands-on experience and helps shape the future of our industry by encouraging new ideas that challenge and improve how we work.