A Message from our CEO
My confidence has never been higher in the economic future of New York City, the quality of our portfolio and the abilities of SL Green's team. As we continue to build, renovate and finance the future of the city, our shared vision of a sustainable and competitive urban business district will be realized.
2017 was another year of market-leading operating performance by SL Green. On the sustainability front, we have garnered industry recognition on a local, national and international level. SL Green was named the "Most Sustainable REIT" by Real Estate Finance & Investment this year, and we won Business Intelligence Group's "2017 Sustainability Award" and the Institute of Real Estate Management's "Corporate Innovation" REME award in recognition of our progressive energy management platform. Our green operations landed in the top percentile of both Global Real Estate Sustainability Benchmark's Public Disclosure Report and Morgan Stanley Capital International's ESG Index. Our commitment is unwavering as we certified 50 percent of our owned and managed portfolio under LEED and accounted for 8 percent of all ENERGY STAR labels across Manhattan in 2017 alone.
Collaborative opportunities with tenants are integral to our sustainability strategy. As New York City's largest commercial landlord, our commitment to creating a greener footprint begins with the 10-year participation in the New York City Carbon Challenge, where we will work with tenants to realize a 30 percent reduction in greenhouse gas emissions. We've partnered with Viacom at 1515 Broadway, Bloomberg at 919 Third Avenue and Sony at 11 Madison Avenue to make joint investments toward energy efficiency.
SL Green's best-in-class team is also applying years of industry expertise at One Vanderbilt. Setting the precedent for 21st century commercial development, the trophy tower will achieve one of the lowest carbon footprints in the city. In addition to the latest technological features of the project, we are going well above and beyond by investing $17 million in sustainability elements that, when coupled with LEED and WELL certifications, will establish the iconic building as the blueprint of visionary sustainable building design.
Our approach to sustainability at One Vanderbilt extends beyond core and shell. Looking at the building from inside out, we've designed an environment that capitalizes on openness, natural light and quality air to create tenant spaces that foster wellness and productivity. Tenants will have access to amenities unrivaled in New York City, including a 30,000 square-foot tenant-only amenity floor, a world-class restaurant in partnership with celebrated chef Daniel Boulud and direct connections to the Grand Central Terminal mass transit network.
In an unprecedented public-private partnership, SL Green will implement $220 million in public realm and transit improvements in conjunction with the construction of One Vanderbilt, including the creation of a habitable, pedestrian-friendly public plaza that bridges the building and Grand Central Terminal. The apex of sustainability, wellness and amenities will provide both One Vanderbilt's tenants and the surrounding community with an unsurpassed urban experience.
Looking at SL Green today, we are confident that we have assembled a resilient and responsible portfolio that generates results and value. We will consistently deliver superior performance to conserve finite resources, incorporate citywide initiatives and uphold our responsibility to the community.
Chief Executive Officer