Comstock and Davis Construction Partner to Promote Sustainable Construction at Reston Station Development

Rhea-AI Summary

Comstock Holding Companies (CHCI) has partnered with DAVIS Construction to implement CarbonCure technology in the latest phase of its Reston Station development. This sustainable concrete solution will significantly reduce CO₂ emissions while enhancing the strength of the concrete. The new garage will utilize over 110,000 cubic yards of concrete, recycling approximately 2.75 million pounds of carbon. Comstock aims to further integrate carbon reduction initiatives into upcoming projects, including incorporating solar energy and reducing plastic waste. An ESG report is planned for release later this year.

Positive

• Utilization of CarbonCure technology expected to recycle 2.75 million pounds of CO2 emissions.
• Enhancement of concrete strength through innovative sustainable practices.
• Future carbon reduction initiatives planned, including use of solar panels.

Negative

• None.

Use of CarbonCure technology will reduce CO2 emissions and improve concrete strength

RESTON, Va., May 04, 2022 (GLOBE NEWSWIRE) -- Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”) announced today a partnership with DAVIS Construction (“DAVIS”) on the introduction of CarbonCure, a sustainable concrete component, in the construction of the newest phase of Comstock’s Reston Station development. Development began on Reston Row @ Reston Station last year with construction of an underground parking garage containing 2,500+ parking spaces.

CarbonCure is clean technology that produces greener concrete by recycling carbon dioxide (CO₂) produced during the cement manufacturing process and injecting the recycled CO₂ into fresh concrete during mixing. Once injected, the CO₂ transforms into a mineral that improves the compressive strength of concrete and captures the recycled CO₂ emissions which are never re-released into the atmosphere. Every cubic yard of concrete produced with CarbonCure technology saves an average of 25 pounds of carbon from entering the atmosphere.

Slated for early 2023 delivery, the newest garage at Reston Station will be constructed with more than 110,000 cubic yards of concrete produced with CarbonCure technology, which translates into 2.75 million pounds of carbon that will be recycled and not be released into the atmosphere as a result of Comstock and Davis deploying CarbonCure technology during construction. In addition to the garage, Comstock plans to build four new high-rise buildings at the development. An average high-rise building constructed with CarbonCure saves 1.5 million pounds of CO₂ emissions from entering the atmosphere, equivalent to the carbon absorbed by 880 acres of forest in a year.

“We recognize that real estate development can have significant impact on the environment we all share,” said Chris Clemente, Chairman and CEO of Comstock. “We believe in using the power of business relationships and green technology to make the world a safer place for all. That is why we are proud to be partnering with Davis Construction on key ESG initiatives that incorporate carbon reduction technologies into our ongoing developments.”

“We truly believe this is a milestone in sustainable construction,” said Davis Construction CEO and President Jim Davis. “The long-standing partnership between Comstock and Davis is rooted in trust and fueled by innovation. From safety to sustainability, we’re proud to continue setting higher standards for the industry through our work together in the Reston community.”

Comstock and Davis Construction are also planning to incorporate additional carbon reduction initiatives into in the construction of the 1.5 million square feet of new buildings planned for above the Reston Row parking garage. Planned initiatives include the use of solar panels to generate a portion of the temporary power needed for construction equipment as well as the reduced usage and green disposal of thousands of disposable plastic water bottles.

Comstock plans on publishing its first annual ESG Report later this year, detailing its current ESG initiatives and their impactful results.

About DAVIS Construction

Founded in 1966, DAVIS Construction is the largest general contractor that solely serves the MidAtlantic region, building $1B+ worth of construction a year, including some of the region’s most complex and notable projects, across 10 diverse market sectors. Consistently ranked as an industry leader both nationally and locally, DAVIS has been recognized for 16 consecutive years as one of the area’s “Best Places to Work” by the Washington Business Journal. For more information, please visit davisconstruction.com or follow DAVIS @DAVISbuilds.

About Comstock

Comstock is a leading developer and manager of mixed-use and transit-oriented properties in the Washington, D.C. metropolitan area. As a vertically integrated and multi-faceted asset management and real estate services company, Comstock has designed, developed, constructed, acquired, and managed thousands of residential units and millions of square feet of commercial and mixed-use properties in since 1985, and has been selected by multiple jurisdictions as Master Developer of Public-Private Partnerships responsible for development of some of the largest transit-oriented developments in the Washington, D.C. region. Comstock provides a wide array of real estate-related services that include asset management, strategic capital markets advisory services, development and construction management, marketing and leasing services, office and retail property management, residential property management, and commercial garage management. Comstock is publicly traded on Nasdaq under the ticker symbol CHCI. For more information, please visit: ComstockCompanies.com.

Comstock Media Contact

Shanna Wilson
shannakwilson@gmail.com
917-674-3096