Purple Vetch Properties, LLC is a commercial real estate investment company specializing in historic green community projects. Yet, that is only the beginning.
To cultivate healthy people, healthy buildings, healthy community, and a healthy environment through the ownership, adaptive re-use, and management of high performance historic green multifamily affordable housing properties as well as office, retail, and industrial commercial space.
To own, retrofit, and manage a portfolio of profitable high performance historic green affordable multifamily housing, office, retail, and industrial commercial space, all of which shall ensure that the integrity and heritage of our buildings are preserved, that live and work environments are vibrantly healthy, that sustainability of our planet is paramount in our work, and that simultaneously the properties maximize financial and social returns for our investors.
What is in a Name?
The time tested premise is that there are three legs (PPP) of the business performance ‘stool’:
- People [Social Fairness]
- Profit [Economic Prosperity]
- Planet [Environmental Health]
Each must be in place for the emergence of a truly integrated and successful ‘triple bottom line’ (TBL) in commercial endeavors. More recent thinking about this approach to business performance suggests that this analysis is not about tradeoffs, but rather, financial returns will be more robust if sufficient attention is given to ‘people’ and ‘planet’. That is what we strive to do at PVP.
In the business world, some people prefer to think about these issues in terms of:
- Corporate Social Responsibility (CSR)
- Socially Responsible Investing (SRI)
- Responsible Property Investment’ (RPI)
These expressions each try to capture the essence of what it means to be a good ‘corporate citizen’ or a ‘responsible investor’. Naturally, these notions are extremely personal and subjective in nature. All we can do as a commercial real estate investment company is walk our talk to the best of our ability and invite investors to join us in our commitment and conviction to create a more sustainable and healthy model of multifamily investing.
Many words have seeped into our culture’s vocabulary as lightening rods to describe a process by which a person or a business makes choices, or a property is transformed, in accordance with higher environmental standards or values:
- ‘Green’, Greening’, ‘Greenification’ and ‘Greenify’
- ‘Sustainable‘, Eco-Conscious’, and ‘Eco-Friendly’
- Preservation, Rehabilation, Restoration, and Reconstruction
Purple Vetch Properties recognizes that some of these words may resonate with our website visitors more than others. However, in our minds, there is nothing particularly magical or special about any of these words, and many seem to go in and out of vogue at any given time. Rather, the magic lies in what we do as a company that actually furthers the core values that all of these words represent in one way or another. We think that working with and preserving 'historic' properties is ultimately a very sustainable thing to do. However, sometimes, the high standard of 'preservation' may simply not be feasible or possible. Or, some 'green' initiatives on a property could undermine preservation, so at times, there is a careful balancing act that must take place, to ensure that the choices made are the most sustainable ones.
We invite our visitors to explore our web site, including the Resources tab for more information about green building, the Investors tab for a more in depth view of our 13 step investment strategies, and the PVP Blog, in order to learn more about the specifics of just how these concepts are embedded in our company’s business model to ‘green up’ or retrofit multifamily properties and do our part to make a difference in the lives of people, buildings, community, and the environment.
Making a Difference Matters
Historic buldings connect us to our heritage and provide PVP the opportunity to be involved in preservation and sustainability through our commercial real estate work. Many historic buildings are ideal for what is referred to as 'adaptive re-use' or re-purposing, and we think that green affordable multifamily housing is often an excellent endgame for this process.
We hear much more about 'green’ residential homes, and the construction of new 'green’ buildings and apartment complexes. However we believe that pre-existing properties that really demand our attention as investors and property owners.
We also believe commercial real estate brokers, mortgage brokers, lending institutions, city officials, building inspectors, contractors and handyman, business vendors, property management companies, and of course, residents and investors are all stakeholders in the success of these sustainable living communities in our markets.
Additionally, children and families with moderate to low income, the elderly, and persons with special needs often fall through the cracks when it comes to multifamily housing accommodation due to the economics of these underserved members of our society. Here, at Purple Vetch Properties, we make it our business to ensure that, when possible, these patterns are not perpetuated by striving to ensure that various affordable housing programs find a home at our multifamily properties.
In our commercial properties, we know that everyone does not necessarily need, nor can afford, an individual office space. Thus, we champion a concept called 'collaborative' office space wherein individuals can avail themselves of the resources, both human and otherwise, that they need to launch or propel their small business endeavors and rub shoulders with other like minded people. We here at PVP believe that by offering alternatives such as 'collaborative' office space, we are helping to make a difference in the commercial office environment and opening doors to more individuals who wish to enter the workplace in a more modest or creative fashion.
Purple Vetch Properties builds relationships with the various stakeholders and involves people to whatever extent possible in the vision and commitment of sustainable, more 'green’ profitable multifamily properties.
Purple Vetch Properties strives to:
- Make a difference in the lives of residents so that they may be have access to affordable housing, a healthy home, and be more fully engaged in shaping various aspects of their living environment
- Make a difference in the lives of commercial tenants, customers and visitors to our office space, retail, or industrial commercial space so that a healthy and creative working environment is paramount.
- Make a difference in the way historic properties are respected and enabled to regain a semblance of health or receive the gift of a new 'lease’ on life through adaptive re-use or re-purposing
- Make a difference in how these 'green’ living environments work with local business and other neighbors in the sandbox we call 'community’.
- Make a difference in how our properties ultimately impact our carbon footprint on the planet.
- Make a difference in the type and experience of opportunities for investors to have a positive impact with their money, while simultaneously securing healthy financial returns.
We do what we do because we believe it is the right thing
We do what we do because that is how we are 'wired’ here at PVP
"Buildings are one of the heaviest consumers of natural resources and account for a significant portion of the greenhouse gas emissions that affect climate change. In the U.S., buildings account for 38% of all CO2 emissions".
– United States Green Building Council