WELL v2 pilot features a lot of Australians. A new WELL Portfolio has been released with the improved rules and steps one has to follow in order to achieve the WELL Certification for new or existing buildings as well as tenant spaces.
The WELL Portfolio responds to the increasing demand for a program that helps developers, owners and even tenants to upgrade their real estate investments in a healthy fashion. WELL v2 gives the possibility to seek the D&O designation, which will help them navigate the certification process.
The WELL Portfolio Pathway is built to be viewed as a journey, not a destination, so it encourages people to make improvements to their portfolios over time.
Developers, investors and tenants, from all over the world, who have already used WELL for individual buildings, have expressed their interest in pursuing the WELL Portfolio Pathway in order to enhance their portfolios.
Barclays, Brandywine Realty Trust, CBRE Global Investors and CBRE, Charter Hall, Forest City Realty Trust, Gro, Investa, JLL Asia Pacific, the Lendlease managed Australian Prime Property Fund (APPF) Commercial, Miron Construction Co., Inc., Prologis, Inc., Shaw Industries, and SL Green Realty Corp are some of the organizations which created a sample pilot for qualifying buildings.
Rick Fedrizzi, IWBI CEO, thinks that a phased implementation for a portfolio with multiple buildings gives flexibility to owners and landlords, and it will be easier for them pursue the WELL Certification.
Therefore, WELL Portfolio Pathway projects will receive scorecards, adapted to their projects and which will serve as a guide for investments over time. Owners will be able to reference health and wellness-related building performance, in their portfolios or in other people’s portfolios.
The WELL Building Standard is complemented with the green building standards. So developers and property managers who already have green certifications, such as: LEED, BREEAM, Green Star or Living Building Challenge can also obtain a WELL certification in order to pursue the vast opportunities this certification provides.