Tishman Speyer Breaks Ground on The Springs — the Gateway to New Jiangwan Town, Shanghai | Announcements | Tishman Speyer


Tishman Speyer Breaks Ground on The Springs — the Gateway to New Jiangwan Town, Shanghai

Shanghai, China June 22, 2011

Government and Community Leaders Celebrate the Start of Construction on World-Class Residential and Commercial Development

Tishman Speyer Announces Sponsorship of Fudan and Tongji University Scholarships for Students Studying Sustainable Design

Tishman Speyer, one of the world’s leading owners, developers, operators and investment managers of first-class real estate, in partnership with Shanghai Chengtou Property (Group) Co., Ltd., today broke ground to start construction on The Springs — a landmark, mixed-use community that integrates LEED® Gold standard commercial developments with sustainable residential housing.

When complete, this 9.7-million-square-foot (900,230-square-meter) full-service “green” community, located less than eight miles from Shanghai’s central business district, will provide approximately 900 units of residential housing and nearly 8 million square feet (740,000 square meters) of Class A office park, Class A commercial office space, SOHO live-work space, serviced apartments, hotel, retail business and cultural amenity space. Additionally, The Springs will be built along a major transit hub, connecting it to a subway interchange and 32 bus lines, providing high-speed connections to the greater Shanghai metropolitan region. Tishman Speyer also unveiled the Chinese name for the
development, . This name was chosen to reflect The Springs’ location in Shanghai and its sustainable design features.

The Springs is Tishman Speyer’s largest project in China and follows the development of previous successful commercial projects in Tianjin and Chengdu. Today’s groundbreaking ceremony was attended by government officials from Yangpu District.

“This project underscores our confidence in the long-term strength of the China market and the opportunities to develop innovative and unique mixed-use projects that genuinely enhance the country’s urban landscape,” said Tishman Speyer co-CEOs Jerry Speyer and Rob Speyer. “We’ve worked closely and collaboratively with our partners in China to ensure that this development will be an enduring, sustainable and forward-looking community for the thousands of people who will live and work at The Springs. We’re immensely proud of this project and look forward to a continued and growing presence in Shanghai and China.”

“The green elements of this mixed-use development will make it a model for sustainable building, not only in China, but across the world,” said Katherine Farley, Tishman Speyer Senior Managing Director. “Its accessibility to mass transit and unique green features will make The Springs attractive to a broad and diverse demographic, creating a dynamic residential and commercial community just minutes away from Shanghai’s business center.”

“The Springs is one of Tishman Speyer’s most ambitious and important projects in China,” said Ryan Botjer, Tishman Speyer Senior Managing Director and China Country Head. “Together with our partners, we’ll transform this former military airfield into one of Shanghai’s most vibrant residential and business communities. We feel privileged to be the developers of this very special landmark project.”

Additionally, Tishman Speyer today announced that it would sponsor scholarships at Fudan University and Tongji University to support students interested in studying sustainability issues and developing the next generation of green solutions.

The Springs lies within the Yangpu District in Shanghai’s urban sub-center and is centrally located between the city’s two major airports, Hong Qiao and Pu Dong. Situated on a former airfield facility, the development will be built adjacent to a 33-acre ecological park reserve unique to Shanghai. The Springs is a master-planned community, and all of its commercial components have been designed to LEED® Gold standards by a team of leading international architects and environmental consultants.

The Springs will be developed in several phases. Phase I residential development begins immediately in June 2011, followed by Phase II, which includes construction of the commercial office space, retail, hotel and cultural amenities.

About Tishman Speyer
Since its founding in 1978, Tishman Speyer has acquired, developed and/or managed over 118 million square feet of property around the world. From the beginning, we have been firmly committed to delivering enduring value to investors, tenants and communities. Our signature assets have included New York's Rockefeller Center and the Chrysler Center, Frankfurt's MesseTurm and OpernTurm, São Paulo's Torre Norte, and Ventura Corporate Towers in Rio de Janeiro. Currently, Tishman Speyer has projects in different stages of development in major cities around the world, including Shanghai; Chengdu; Tianjin; São Paulo; Rio de Janeiro; Frankfurt; London; Hyderabad; New York; Washington, D.C. and Los Angeles. Sustainability is and will remain a critical and integrated element of Tishman Speyer’s culture. Around the world, Tishman Speyer has over 20.7 million square feet (1.92 million square meters) of LEED®, HQE or BREEAM certified space. By 2012, that portfolio will expand to over 37.1 million square feet (3.44 million square meters) of sustainability-rated projects worldwide.