Pacolet cares deeply about the world we live in, as well as the environmental impacts that its businesses and properties have on our communities. Pacolet is committed to operating in a responsible manner — one that exemplifies the best practices of sustainability, community involvement, and environmental responsibility. This permeates our entire company — both Real Estate and Power & Infrastructure.
Power & Infrastructure
The Power & Infrastructure Division demonstrates its sustainability commitments in a variety of ways, including by the substantial capital deployed in its solar and landfill-gas-to-energy operations, as well as through its hydro-electric generation through Lockhart Power. We also reflect environmental stewardship by the manner in which we conduct our wastewater industrial utility operations. For example, we recently spent over $20 million on our new Spears Creek Wastewater Treatment Facility, which treats wastewater to the highest standard of any such facility in South Carolina. We also deployed substantial capital in recruiting Evonik Corporation to Bushy Park, where it produces precipitated silica. Precipitated silica reduces rolling resistance in tires and is estimated to save millions of gallons of gasoline per year.
Pacolet has developed solar facilities with over 60 MWs of power, and over the next 18 months expects to more than double its existing portfolio. Pacolet is also locating solar facilities in its Lockhart Power territory, as well as in Bushy Park.
Landfill Gas Facilities
Pacolet has three landfill gas to electricity facilities that use methane gas that would otherwise be flared into the atmosphere, to make electricity. Pacolet expects to continue to pursue landfill gas projects, including high BTU projects that can produce pipeline quality gas.
Lockhart Power has an extensive program of community engagement, environmentally-friendly power generation and economic development. Virtually all of Lockhart’s self-generated electricity is from either hydro or landfill gas facilities. In addition, it has an impressive record of economic development that includes projects such as the funding and construction of a speculative industrial building in Union County in an economically challenged area.
Spears Creek Wastewater Treatment Facility
Pacolet recently constructed a new wastewater treatment facility that treats non-industrial waste to the highest standard of any plant in South Carolina.
Pacolet supports tenants in Bushy Park that produce environmentally significant products. For example, it has invested tens of millions of dollars to facilitate Evonik Corporation’s operations in the Park, which produce precipitated silica, which decreases the following resistance of tires, thereby saving gasoline and reducing reliance on fossil fuels.
Sustainability within the Real Estate Division is manifested in various ways – economic, social and environmental. In addition to seeking superior risk adjusted returns in its investments, Pacolet seeks to have a positive impact on the community via its real estate activities. These efforts take the form of developing environmentally responsible properties, structuring developments to facilitate aspects that are important to the community, and contributing land and funds to foster community involvement and environmental conservation.
Press Release: PACOLET MILLIKEN PARTNERS WITH COMMUNITYWORKS TO INVEST UP TO $1M ANNUALLY IN AFFORDABLE HOUSING PROJECTS
Pacolet subsidized the redevelopment of a vacant mill into 289 loft apartments and retail space; created 3-mile greenway trail that connects the community to schools, a hospital, and the larger Spartanburg Community; partnered with single-family home developers for new homes in the community at varying price points, including Habitat Homes; and donated land for a new neighborhood elementary school that will serve the Drayton community.
Mountains to the Sea Trail
Pacolet has subsidized the sale of large tracts in ecologically important areas to conservation organizations in South Carolina.
Town of Pacolet
Pacolet has provided water access points on the Pacolet River for canoes and kayaks in the Town of Pacolet. It has also funded the creation of pedestrian environments and provided easements for nature trails.
Urban Land Planning
Many of Pacolet’s real estate efforts are targeted at in-fill properties in transit-oriented locations. Our multifamily and office properties are pedestrian and bike-friendly, and feature environmentally favorable features, such as off-site temperature controls, electrical vehicle charging stations and convenient recycling programs for residents.
Eyes on (Interstate) 85
Pacolet has funded the beautification of interstate interchanges with sustainable landscaping.