Gilbane Development Company
Sustainability, Social Impact, and Governance
Developing Dynamic Communities
Our Vision
For over 50 years, Gilbane Development Company has been responsible for developing dynamic communities that enrich people’s lives.
As we look ahead, we are focused on building an even better future alongside our partners, investors, employees, and those who live, work, and play in the communities we develop. Through an integrated sustainability, social impact, and governance platform, we are using Gilbane’s resources to identify ways to have a positive impact. In keeping with our core value of Caring, we hold ourselves accountable for co-creating a more sustainable and inclusive future, through social infrastructure, housing, and beyond – impacting thousands of people across the United States.
Message from our CEO
Edward T. Broderick
President & CEO, Gilbane Development Company
2022 was another amazing year for Gilbane Development Company. We continued with our mission of “Developing Dynamic Communities” that improve quality of life while providing meaningful opportunities for residents and future generations. For each project, our approach and understanding of community are supporting and improving lives for people across age spans: students pursuing primary and secondary education, families with children, residents seeking walkable communities, or seniors with special needs. We work collaboratively with stakeholders to deliver projects that respect communities while also fulfilling needs for student housing, affordable housing, market rate apartments, mixed-use developments, schools, healthcare, and more. Recognizing the ongoing threat of climate change and the global economy’s transition to sustainable buildings, we have introduced many innovations in the way we develop communities. Gilbane continues to lead in this area, resulting in many awards and recognitions that speak to the quality of our work. This year’s Sustainability, Social Impact, and Governance report provides more specific insight into how we build structures and communities to meet goals and some of the sustainable methods used. We are continually strategizing, improving, and looking for new ways to lead the industry while driving value for investors. Our shared values of innovation, sustainability, inclusion, and collaboration are fundamental to driving value and benefiting future generations. We are excited about our future!
ESG REPORT
Download the complete 2022 Sustainability, Social Impact, and Governance Report
Developing Dynamic Communities
Sustainability
Focusing on programs that promote health and wellness while simultaneously reducing energy, water consumption, and overall carbon footprint – promoting resilient operations.
Green building has provided a framework for building projects that are more efficient, less polluting, and healthier for occupants. Green practices are applied from the earliest stages of design for cost savings throughout operations, and affiliations include LEED, Green Globes, Passive House Institute US, Urban Land Institute, ENERGY STAR, and National Green Building Standard (NGBS), and more.
Sustainability Commitment
We are developing dynamic communities which actively embrace sustainable methods of design, construction, and long-term operations, not only for the obvious benefits to the environment, but also for the realization of greater value over the operational lifecycle of our portfolio of assets and for our clients’ assets.
When determining the best approach to sustainability, we advocate for programs that promote health and wellness and reduce energy, water consumption, and overall carbon footprint while promoting resilient operations.
Affiliations include LEED (Leadership in Energy and Environmental Design), Green Globes, Passive House Institute US, Urban Land Institute, ENERGY STAR, and National Green Building Standard (NGBS), among others.
Energy Efficient Facilities and Communities
- Energy and Water Conservation
- Waste Management
- Solar Energy
- Energy Audits
- Energy Efficient Renovations and Upgrades
- Clean Energy
- Electric Vehicle Charging Stations
Green Design and Construction
- Green Building Certifications
- LEED Certifications
- Modular Construction
Resident Health and Wellness Initiatives
- Fitness Centers, Parks and Open Space, etc.
- Bike Storage, Bike Loan Programs
- EV Car Charging Stations
- No Smoking
- Building Recycling Programs
- Sustainability Education and Resident Engagement Programs
Energy-Saving Measures
- ENERGY STAR® appliances
- Motion/occupancy sensors in both offices and common areas
- LED lighting throughout community and within units
- Programmable and zoned thermostats in common areas
- Smart thermostats within residential units
- Timers on hot tubs and fire pits
- HVAC commissioning, testing, adjusting, and balancing in common areas
Water And Waste Standards
- Low-flow plumbing fixtures and aerators
- 1.28-gallons-per-flush efficiency toilets
- Native planting materials
- Advanced irrigation controls
- Recycling programs
- Long-lasting floors and countertops
Other
- Walkable & Transit-Oriented Communities
- Fitness Centers, Parks, and Open Space
- Bike storage rooms and bike loan programs
- Electric car charging stations
- Sustainability Education and Resident Engagement Programs
Connectivity
- Vibrant mix of amenities, retail, and residential living options
- 24- hour accessibility to life’s necessities and enjoyable activities
- Pedestrian and bicycle friendly communities
Contracting with Providers to Conserve Energy and Water
Driving Down Our Carbon Footprint
- Submeter water usage when feasible
- Analyze gallons of water, therms of natural gas and kilowatt hours of electricity consumed across our portfolio
- Utilize energy data to influence responsible decision making and reduce greenhouse gas emissions
- Secure the lowest, most predictable terms to protect our communities from volatile energy markets
Developing Dynamic Communities
Social Impact
Supporting diversity and inclusion in our workplace and business relationships; we are committed to bettering the communities in and around our developments.
Our commitment goes beyond simply building and developing affordable, residential, commercial, and retail spaces; we aim to improve communities and strengthen the neighborhoods where we work. Whether it’s a student housing development or an urban affordable housing project, we collaborate with local stakeholders to strategize on how to best support the community to improve residents’ quality of life long-term.
Social Commitment
Gilbane Development Company is committed to supporting diversity and inclusion in our workplace and business relationships; we are committed to bettering the communities in and around our developments. We recognize that diversity and inclusion require sustained commitment and continuous concerted efforts at our company and across the industry.
Strengthening Communities Through Investment and Partnerships
Our commitment goes beyond simply building and developing residential, commercial, and retail spaces; we aim to improve communities and strengthen the neighborhoods where we work.
National Company, Local Commitment
At the local level, Gilbane Development Company partners to support communities who are most in need. From providing jobs and support services to addressing homelessness, our role as developer goes beyond brick-and-mortar building and extends well beyond the completion of construction.
Investing in Next Generation of Leaders
Gilbane is committed to providing meaningful opportunities to students through mentorships, internships, work-study programs, and case study learning sessions
Minority Owned Businesses and Non-Profit JV Owner Partnerships
While we are committed to meeting and exceeding MWBE contracting goals for projects, providing the opportunity to partner with firms as co-owners and co-developers leads to real long-term wealth building through the creation of cash flowing assets.
Community Engagement
Gilbane has been committed to social engagement efforts to improve the economic and social well-being of our residents in the communities we develop and manage.
Residents
Educational workshops, nutrition, computer training, job readiness, financial counseling, resume building, and tax preparation are made available to Bronx affordable housing residents through our partnership with Bronxworks
Students
Engage student population to determine strengths and weaknesses of our programs, identify trends, and measure performance to provide the best service possible to students
Volunteer Time Off
Gilbane employees give back to communities in countless ways. This year we launched a new program designed to support that commitment by offering a Volunteer Time Off (VTO) benefit
Developing Dynamic Communities
Governance
Developing and ensuring adherence to the highest business standards possible and providing oversight to corporate structure, safety, ethics, compliance, and compensation.
Our Board includes world-class, independent directors whose extensive expertise enables us to support our employees, clients, and shareholders. We are proud of the diversity of our directors’ backgrounds and experience. The Board embodies our Core Values and provides oversight and guidance to promote a strong ethical standard and a unified “One Company” approach in everything we do.
Board of Directors
Gilbane’s Board of Directors comprises transformational leaders with a diverse range of skills and experience who provide corporate governance, ensuring excellent business standards and controls.
The Board brings a systematic and disciplined approach to evaluate and improve the effectiveness of Gilbane’s governance, risk management, and internal controls. The Board members contribute valuable insight and expertise, drawing from their knowledge in multiple key areas including technology, construction management, real estate development, finance, safety, government policy, economics, and ethics.
Audit, Ethics and Safety Committee
Gilbane’s internal audit is an independent and objective assurance and consulting activity that is guided by the philosophy of adding value to improve operations across the organization. Our internal audit process evaluates the effectiveness of Gilbane’s internal controls, risk management, and governance systems. The Internal Audit Department has a direct and independent reporting relationship to the Audit, Ethics, and Safety Committee of the Gilbane, Inc. Board of Directors. The Internal Audit function identifies project risks, key trends, and areas for improvement to determine where training may be needed.
Executive Committee and Investment Committee
Gilbane Development Company has a systematic approach to decide whether to invest in a particular project through our Executive Committee and Investment Committee process. The Executive Committee includes senior leaders from Gilbane Development Company and opportunities are presented to the Committee in multiple stages through due diligence starting with an initial overview and ending with a final decision on whether to proceed to Investment Committee. The Investment Committee includes a combination of senior leaders from Gilbane Development Company and Gilbane, Inc. and has final approval on whether to proceed with a project. During each stage, the opportunity is evaluated for financial viability, strategic fit, risk assessment, and potential impact on Gilbane’s goals and objectives. Once approved by the Investment Committee, the project continues to be evaluated against the metrics approved by the Investment Committee.
Compliance and Training
Gilbane’s workplace compliance trainings are designed to help employees understand the company’s standards and expectations so that we can operate at an optimal level. Workplace laws and regulations constantly evolve; therefore it is critically important to keep up to date with trainings. Our internal compliance trainings cover aspects of ethics, safety, security, inclusion, and wellbeing. We truly believe that being fully compliant in these areas will result in a better working environment for our people.
Annual Compliance Courses:
- Cybersecurity Awareness
- Workplace Harassment Prevention
- Workplace Violence Prevention (managers only)
- Ethics Curriculum
Onboarding Courses for New Hires:
- Staying on the High Road: Ethics at Gilbane
- Engaging Inclusion and Diversity
- Distracted Driving Awareness
- Online Safety Orientation
- Alcohol and Substance Abuse Awareness
Developing Dynamic Communities
Social Impact
Supporting diversity and inclusion in our workplace and business relationships; we are committed to bettering the communities in and around our developments.
Our commitment goes beyond simply building and developing affordable, residential, commercial, and retail spaces; we aim to improve communities and strengthen the neighborhoods where we work. Whether it’s a student housing development or an urban affordable housing project, we collaborate with local stakeholders to strategize on how to best support the community to improve residents’ quality of life long-term.