Developer Honored for Innovation, Commitment to Sustainability, and Leadership throughout the Pandemic
June 9, 2021 – NAIOP, the Commercial Real Estate Development Association, has selected Hudson Pacific Properties as the 2021 Developer of the Year – the association’s highest honor. The award will be presented during NAIOP’s CRE.Converge conference in Miami Beach this September.
“On behalf of the entire Hudson Pacific team, we are thrilled to be recognized by NAIOP as the 2021 Developer of the Year,” said Victor Coleman, Chairman and CEO of Hudson Pacific Properties. “Hudson Pacific has always been committed to exceeding expectations, to being nimble and forging our own path, and to reimagining now to create what’s next to the benefit of our stakeholders. This past year tested our resilience, and I am proud that Hudson Pacific has emerged at the forefront of our industry. We deliver groundbreaking real estate for the world’s most innovative companies, and we do so in ways that foster sustainable, healthy and equitable cities – today and in the future.”
Hudson Pacific acquires and develops premier creative office and studio properties in tech and media epicenters, including Los Angeles, Silicon Valley, San Francisco, Seattle and Vancouver. It is the largest publicly traded owner of office space in Silicon Valley and one of the largest independent owner/operators of studios in the U.S. The company’s portfolio totals nearly 20 million square feet, including land for development. Throughout its history, Hudson Pacific has invested $1.5 billion in visionary development and adaptive reuse projects across its core markets, like its One Westside mall-to-creative-office conversion in West Los Angeles.
Hudson Pacific has an exemplary track record of innovation, both in terms of building design and technology integration, and environmental, social and governance (ESG) leadership through its Better Blueprint™ program. During the pandemic, health and safety-related operational changes, including increased ventilation and air filtration, affected energy needs. By September 2020, the company managed to achieve its 100% net-zero carbon operations goal five years early through a strategic combination of energy efficiency, on-site and off-site renewables and verified emissions reduction credits.
Throughout 2020, Hudson Pacific adapted swiftly in a multitude of ways to deal with the unique environment created by the pandemic. From ongoing development and construction, to employee recruitment and engagement, Hudson Pacific teams met business objectives while reinforcing the company’s commitment to health and safety, sustainability, and diversity, equity and inclusion. Hudson Pacific also worked closely with tenants large and small on rent relief and abatements to help keep them afloat during an uncertain time.
“It is NAIOP’s honor to recognize the tremendous work of Hudson Pacific as the 2021 Developer of the Year. Their ongoing commitment to advancing the commercial real estate industry through cutting-edge innovation and exemplary ESG leadership is impressive,” said Thomas J. Bisacquino, NAIOP president and CEO. “Hudson Pacific has demonstrated significant adaptability to the unique environment the pandemic created, putting its tenants first to sustain their businesses and strategically repositioning projects to meet evolving requirements that allowed tenants and employees to safely return to their properties.”
Hudson Pacific employees are active NAIOP members across several association chapters, including NAIOP San Francisco Bay Area, NAIOP SoCal, NAIOP Silicon Valley, NAIOP Washington State and NAIOP Vancouver.
Since 1979, the NAIOP Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation. Hudson Pacific was selected from an impressive slate of nominees and was evaluated by a team of seasoned developers on the following criteria: outstanding quality of projects and services; active support of the industry through NAIOP; financial consistency and stability; ability to adapt to market conditions; and support of the local community.