Tuesday, November 27, 2007

Smokers Get the Boot Again - In Real Estate Now

Trust California to start something like this...I'd be that much more challenged to smoke one way or the other...:-) When condos in Myrtle Beach start this, I'll be on the war-path. Thank god most beach condos have balconies.


Prometheus Real Estate Group Leads Trend Towards Non-smoking Apartments
Posted: 11/27/2007 12:00 AM

SAN MATEO, CA --
Award-winning Owner and Developer of Residential Property Takes Stand to Eliminate Fire and Health Dangers Caused by Smoking /PRNewswire/ --

Prometheus Real Estate Group has implemented a non-smoking policy for all its new multi-family development communities. The company is among the first leading apartment owners to implement the policy in the San Francisco Bay Area.

"100% of Prometheus' new development communities will be non-smoking in the future," said Rod Standard, Senior Vice President of Property Management Services. "We certainly hope that this trend will catch on and we will see widespread adoption of non-smoking policies."

In the San Francisco Bay Area, Prometheus Real Estate Group has implemented smoke-free communities at 550 Moreland, a new 430-unit multi-family project in Santa Clara and the Icon at Doyle and Icon at Park, 81 units in Emeryville. Also smoke-free is the new 123-unit luxury community 128 on State in Kirkland, Washington.

Opening smoke-free in late December is the new Portland, Oregon luxury apartment community, The Wyatt, owned by Sobrato development Co. and managed by Prometheus Real Estate Group. The Wyatt is a 245-unit building located in Portland's Pearl District.

The policy bans smoking inside apartment units and common areas, including balconies and patios, and within 25 feet of the building. Prospective residents must sign a no-smoking agreement upon leasing a unit and will be responsible for enforcing the policy within their apartments.

According to a recent U.S. Surgeon's Report, there are no safe levels of exposure to secondhand smoke. Smoke-free apartments also greatly lower the risk of fire and help minimize cleaning and maintenance costs with savings available to be passed on to residents. Smoke-free apartments also create a healthier environment for adults and children with chronic illnesses such as asthma or lung disease.

"The policy has been received very well by our residents," says Nancy Whelan, Director of Property Management Services for Prometheus in Northern California, "It is something people want and view as a positive for their community and the larger environment as a whole."

For existing multi-family communities, the policy will be implemented building by building with consideration for residents who have already signed a lease without the non-smoking provision. Non-smoking policies will eventually affect new leases for existing properties with the timeline for phase-in determined by each owner and local market demand.

According to the The Center for Tobacco Policy & Organizing, a California Department of Health Services project of the American Lung Association of California:

-- 40% of California's housing stock is composed of multi-unit residences according to the 2000 Census.
-- 70% of apartment residents support non-smoking sections in apartment buildings.

About Prometheus Estate GroupPrometheus is the largest private owner of multi-family communities in the San Francisco Bay Area with more than 18,000 housing units planned or underway in California and the Pacific Northwest. Prometheus Real Estate Group specializes in the acquisition, development and management of high quality residential and commercial properties.

For more information visit http://www.prometheusreg.com/ and http://www.californialung.org/.
CONTACT: Rod Standard, Senior Vice President of Prometheus Real Estate Group,
+1-650-931-3436,
rstandard@prometheusreg.com

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