| Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, National Association, a full-service business bank headquartered in Silicon Valley, announced today it has provided construction financing to two local premier developers for the construction of custom luxury homes in Atherton, California. |
| Jeff Wise of Wise Building Company and Oskar Kalbali of KAL Construction have each been in business for more than 10 years and clients of the Bank for multiple projects. Bridge Bank provided financing for the construction of the speculative project homes that recently sold at the high end of the market in the exclusive area of Atherton, CA. The Wall Street Journal recognized these developers in an article earlier this month, which attest that both of these developers have successfully created a niche in the development of luxury, custom homes that are sought out by those individuals interested in living in this prestigious locale. |
| "Bridge Bank is proud to work with top tier developers like Wise Building Company and KAL Construction," said Kimberly Rysyk, Senior Vice President, Construction and Commercial Real Estate Division at Bridge Bank N.A. "They both demonstrated their ability to perform in a difficult market by delivering exceptional homes to the marketplace. We are thrilled to be able to provide financing options for those developers that have proven they know the market and can deliver high quality homes." |
| See Complete Wall Street Journal Article... |
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| Our New Listing in Dream Homes Magazine for Chateau Avignon. |
First Commercial 'Green' Building Built in S.J.
By
San Jose's City Hall prides itself on it, some homes are modeled after it
and now a San Jose developer is basing his business on it.
The concept of going green.
"This is the first green commercial building
in San Jose," said building owner Arzhang Kalbali.
The McKee Green Plaza looks like any other building on the city's East
Side.
But walking through the two story building, it's clear the goal is energy
efficiency and sustainability.
As far as the construction of this building, all the lights up above,
they're on timer and they're low watt. And every single door and window is
double-paned and every suite has a minimum of six sky lights. The cost for the
owners to make sure the building went green - an extra $200,000.
"If we have a business that's a green building it will benefit not
only us as a business owner but also as a community," said Kalbali.
"It's a community effort to achieve a green vision in doing what we
can collaboratively," said Mary Tucker from the
San Jose Department of Environmental Services.
This year, the city of San Jose unveiled its green vision - a 15 year plan
aimed at cutting environmental problems and becoming a green model nationally,
for technology and growth.
'It gives you shade at the same time there is light through to the
inside," said Kalbali.
Kalbali hopes his plaza will act as a local model for developers in Silicon
Valley.
"What they're doing at McKee Green Plaza is an example of what can be
done with all the retail around the city," said Tucker.
According to PG&E, there are only about 15 buildings under construction
right now, in San Jose, following the green concept.
Tenants who move in could end up saving up to 40 percent on their energy
bill every month, but they'll pay more in other areas.
Office spaces at the McKee Green Plaza lease for 25 cents more per square
foot than other retail centers.
It's the cost of going green.
(Copyright ©2009 KGO-TV/DT. All Rights Reserved.)
San
Jose Mercury News
Fantasy Home
Designer: KAL Design Group
Builder: KAL Construction, Inc.
In
San Jose, it's Not Easy Building Green
When Oskar & Arzhang Kalbali
decided to build San Jose's first green retail project, they didn't
expect city planners to roll out the red carpet. Neither did they expect to run
into red tape. But that's exactly what happened. Whether they asked for
financial help to install solar panels, promptness in delivering permits or
just some advice on how to build green, the brothers were stymied. Same thing
for David Kaneda, who is turning a 1960s-era concrete bank building into the
city's first commercial structure to meet its net energy needs from the sun.
Business as usual: Both the Kalbalis
& Kaneda thought the city would greet their projects with excitement. But
planners treated their projects just like any other. Which is to say, slowly.
There was no one trained in sustainability issues, & no one assigned to
oversee their efforts.
"We told them, `I'm about to make this project happen, how can you
help?'" said Arzhang Kalbali. "They said, `Here's some info, the rest
of it is up to you.'" Added Kaneda: "I don't get the sense at
all down at the rank & file that the (green) message has gotten to those
people. It's business as usual."
Amir Kalbali, left, Mahin Adeeb, Oskar Kalbali & Arzhang Kalbali are owners of McKee Green Plaza, a retail project in East San Jose designed to be more energy efficient.
McKee Green Plaza is the first retail project built in San Jose using environmentally friendly construction.
This is a kiosk that the owners of the building envision renting to a flower merchant.
That attitude is in
contrast to what newly elected San Jose Mayor Chuck Reed announced in March
when he vowed to go for the gold level in Leadership in Environmental &
Energy Design (LEED) certification. San Jose, it seems, is struggling to match
its "walk" to its "talk." Reed is all too aware of the
problems small businesses encounter. "It takes too long. It's too
complicated & there's too many hoops to jump through," he told the
Mercury News. "And it's not just green businesses." But Reed noted
that the city has made some strides. In 2006, San Jose reduced the time it
takes to obtain permits for solar panels from days to mere minutes, &
lowered the permit fees for installing solar panels. Now he would like to
explore offering a financing package to help owners buy & install the
panels. In the meantime, he understands the importance of a trained staff.
"We have to get people trained & educated about green building, so
we're not starting from scratch."
Because it's not
easy to build green. Upfront costs are significantly higher, adding at least 5
percent to the cost of construction. For Oskar Kalbali, head of KAL Construction, that meant spending
$250,000 more to make his East Side retail plaza green. For Kaneda, it
meant spending more than a $1 million. In the United States, some 900 million
square feet has been certified as meeting energy & environmental standards,
according to the U.S. Green Building Council. But city planning departments
across the country are playing catch-up with the trend. San Jose is actually
further along than many other municipalities, adopting its first green-building
guidelines in 2001 & hiring a green-building coordinator in 2003. The city
hosts green-construction workshops & supports building city projects that
meet green standards. But no one in the planning department is trained in
LEED-standard green benchmarks, an oversight that is about to change.
Evolving industry: Mike Foster, the city's green-building coordinator - the Kalbalis said
he helped them connect with a PG&E energy consultant - said that despite
the hoopla, green construction is still an emerging & evolving industry.
"The private sector really wants to run with green," Foster said.
"Employers such as Adobe recognize the tremendous opportunities to improve
corporate image & improve the bottom line while improving the
environment." But if you're not a
big player like Adobe Systems, your efforts may not warrant the attention you'd
like. Kaneda's rehab for the headquarters of his company, Integrated Design
Associates IDeAs, on Old Almaden Road, has hit one roadblock after another.
Sometimes, he said, it was his staff's fault, but sometimes it was not. He
wishes the planning staff had been more eager to work with him on issues rather
than simply pointing to the codes & shrugging their shoulders. Take
storm-water drainage, for example. Kaneda hoped to set up a system that would
allow rainfall to percolate through the earth, but planners insisted that codes
required the storm water be routed off the site. In the end, Kaneda gave up.
Each month spent going back & forth on issues meant another month paying
for two buildings - one in San Jose & the other for his current office in
Santa Clara. Joe Horwedel, head of the city's planning department, said the
description of the staff's reaction was probably a "fair
characterization" of how the projects - two of thousands that come through
the door - were treated.
Working to change: The department is not set up to do a lot of hand-holding, Horwedel
said - even if it's green. "We are committed to it," the planning
director said. "It's not been perfect, we admit. But we're working to
change the process to be a lot more friendly to green building." First up
is hiring a green-building planner once the city council approves the budget.
Next is sending at least one planner to the U.S. Green Building Council seminar
in Chicago for training. Looking
back, the Kalbalis said building green "wasn't an easy decision for us.
But at the same time, with global warming, we need to do something," Oskar
Kalbali said. For his part, Kaneda hopes the city will improve the
process. "We wanted the building to be in San Jose, because San Jose is
the major city in the South Bay," Kaneda said. "If we could do it
again, I might reconsider that decision." But, he added, "If Chuck
Reed is everything I'm reading about him & he follows through, then I made
the right decision. If he really is walking the walk."
Workers put the finishing touches on newly poured cement on the ground floor of the project.
These are some of the tubular solar skylights that conserve energy. They are better than traditional skylights as they won't lose heat & won't cause UV damage to carpets & furniture.
Spaces
and Places: Going `green' can be costly,
but
benefits hard to ignore
By
Katherine Conrad

Building 'green' -- as environmentally friendly
construction is called -- isn't cheap. Nor is it easy, as the RUMI Group of
The developers will spend $200,000 above normal
construction costs to build a 23,000-square-foot, two-story project that will
offer efficient heating and cooling systems, reduced water usage and skylights.
The project, which already has signed Subway restaurant as a tenant, could also
attract medical and dental tenants, given its proximity to
Convinced that "green" is the way of the
future, Oskar Kalbali, a member of the RUMI Group, said he became
a true believer during the recent heat wave. "We've got to use solar energy,
otherwise things will get pretty bad," he said. "With the energy crisis we
have, this is a route everybody has to take."
Mike Foster,
The brokers marketing the property, Ara Bezdijan and Dion Campisi with Colliers International, say prospective
tenants will decide whether to lease based almost certainly on the real estate
axiom: location, location, location. More than its green features, Bezdijan predicted that prospective tenants will like that
the project will be brand new in a neighborhood without much new construction
-- even if they have to pay more in rent.