Arden Group Selects View Smart Windows for Mixed-Use Residential Development at 4650 Broadway
View Smart Windows to be installed at a new mixed use development in Manhattan’s Inwood neighborhood, increasing natural light and access to views in apartment units and improving the health and wellness of residents
Installation supports Arden’s commitment to ESG initiatives across developer’s portfolio
NEW YORK and MILPITAS, Calif., Jan. 26, 2023 (GLOBE NEWSWIRE) -- Arden Group (“Arden”), a leading U.S. middle-market real estate fund manager, announced that its new mixed-use building will feature smart windows from View, Inc. (Nasdaq: VIEW) (“View”), the leader in smart building platforms and smart glass. The 20-story building is under development at 4650 Broadway in the Inwood section of Manhattan.
The new property, which spans 351,000 square feet, will include 222 residential units upon completion, in addition to 120,000 square feet of commercial and community spaces. View Smart Windows are being installed throughout the building as a premium amenity for its tenants, supporting Arden’s commitment to ESG initiatives and tenant wellbeing.
View Smart Windows automatically adjust in response to the sun to maximize access to natural light and views of the outdoors while minimizing heat and glare. As a result, residents experience several health advantages and improved comfort. Research shows that occupants at buildings with View Smart Windows enjoy more than a 50 percent reduction in eyestrain and headaches, improved sleep by over 30 minutes per night, and increased cognitive function by 42 percent. In addition, View Smart Windows reduce a building’s energy consumption by blocking heat.
“Arden is proud to offer our residents an elevated and differentiated living experience by incorporating View Smart Windows at our new 4650 Broadway property,” said Craig A. Spencer, Chairman and CEO of Arden Group. “Partnering with View further supports our commitment to comprehensive ESG-focused principals and initiatives, and also allows us to create a sustainable and intelligent building that offers incredible park and city views, while improving tenants’ overall health and wellness.”
“Forward-thinking developers like Arden are recognizing that View’s smart building technology attract residential tenants and transform the occupant experience,” added Dr. Rao Mulpuri, CEO of View. “Our expansion into the multifamily sector continues to grow, particularly in a post-pandemic market, where amenities that promote tenant wellness are more important than ever. This new project with Arden also indicates that the Investment Tax Credit (ITC) is driving the adoption of smart windows.”
The 4650 Broadway development is located at the intersection of Sherman Avenue and Broadway in the Inwood section of Manhattan, directly across from Fort Tryon Park. Handel Architects designed the 260-foot-tall project, which is their second project with View Smart Windows. The project will be fully occupied in 2025.
4650 Broadway joins the growing number of View Smart Windows’ multi-family properties, which include Parque Kirkland in Seattle, Washington; Exo in Reston, VA; Bower in Boston, MA; and Sven in Queens, NY.
About Arden Group
Arden Group is a vertically integrated real estate investment management firm focused on equity and debt investments in the top 25 US markets. Founded in 1989, Arden has acquired approximately $7 billion of properties and asset managed in excess of $12 billion of commercial real estate assets. In 2012, Arden Group established Arden Fund Management, its real estate equity and debt fund management business with offices in Philadelphia, New York, Charlotte, Atlanta, Tampa, Houston, Dallas, Newport Beach, Los Angeles, and Columbus. Arden Group has been consistently ranked globally as a top performing Private Fund Manager by both Cambridge Associates and Preqin including Preqin’s #1 global ranking in 2017, 2018 and 2019. For more information, visit www.ardengroup.com
About View, Inc.
View, Inc. is the leader in smart building platforms and smart windows, transforming buildings to improve human health and experience, reduce energy consumption and carbon emissions, and generate additional revenue for building owners. View Smart Windows use artificial intelligence to automatically adjust in response to the sun, eliminating the need for blinds and increasing access to natural light. Every View installation includes a cloud-connected smart building platform that can easily be extended to improve indoor cellular coverage, enhance building security and reimagine the occupant experience. View is installed and designed into 75 million square feet of buildings including offices, hospitals, airports, educational facilities, hotels and multi-family residences. For more information, please visit: www.view.com.
Great Ink Communications
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c94b7370-7de1-471f-9d06-a1d71985e0fb