EchoStone Breaks Ground In Green Affordable Housing With IFC's Edge Certification

VICTOR, N.Y., June 4, 2019 /PRNewswire/ -- International provider of affordable housing solutions, EchoStone, has earned EDGE certification ("Excellence in Design for Greater Efficiencies") for 251 residential properties in its Peridot Parkland Estate. The certification, presented in Lagos by EDGE certifier thinkstep-SGS, marks the first residential housing development to be certified in Nigeria.

An innovation of International Finance Corporation (IFC), EDGE is an online platform, a green building standard, and a certification system for over 140 countries. EDGE was created in response to the need for a measurable solution to prove the financial case for building green and help jumpstart the proliferation of green buildings. EDGE empowers building professionals to quickly and easily determine the most cost-effective ways to build green based on occupant behavior, building type, and the local climate.

As a global EDGE Champion, and partner of the IFC EDGE Green Buildings Market Transformation Program, EchoStone has shown a tremendous commitment to reshaping the affordable housing market through sustainable practices. Following their inaugural projects in Badagry, Alimosho, and Ikorodu, EchoStone plans to build an additional 100,000 units across Nigeria over the next five years.

"EchoStone has made an unprecedented commitment by declaring its ambition to bring 100,000 affordable green homes to Nigeria that are entirely certified with EDGE," said Alzbeta Klein, IFC's Director and Global Head of Climate Business. "The company is a leading example of how the private sector can help to close the housing gap, increase local employment opportunities, and bring value to customers, all while keeping carbon impacts to a minimum."

EchoStone is a member of the world's largest corporate sustainability initiative, aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption. Their sustainable commitment can also be seen in many of their projects around the world, such as Haciendas de San Antonio in Panama, a residential development in town of Pacora.

"We view EDGE as a mark of value that will shape and grow demand for our sustainable housing communities in emerging markets," said Emmanuel Stefanakis, Chief Sustainability and Development Officer of EchoStone. "Additionally, living in an EDGE certified home benefits the homeowner and their family through significant savings in utility costs."

By leveraging proprietary technologies, processes, and sustainable measure EchoStone plans to produce up to 182,000 EDGE certified houses in Nigeria by 2023. This commitment represents the largest of its kind for EDGE and is intended to encourage other property developers to positively impact those affected by the affordable housing crisis through green building practices.

About EchoStone Opco
EchoStone Opco is an international company with the mission of rapidly constructing high-quality housing for low and middle-income communities at scale. The company was established in 2015 and is headquartered in Victor, New York. To find out more about EchoStone and the EchoStone Housing System, visit www.echostonehousing.com

CONTACT: Ashley Steinkamp, (585) 433-5903, [email protected]

SOURCE EchoStone

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