The Albanese Organization (AO) received a new award today honoring its leadership in sustainable development. Vision Long Island, an organization dedicated to promoting environmentally responsible growth in the region, selected AO for its prestigious annual Smart Growth Award in the category of Clean Energy andGreenBuildingDevelopment.

AO was honored for its development of 1001 Franklin Avenue in Garden City, Long Island's first and only "green" commercial building. The 115,000-sq. ft., 3-story building features environmentally advanced construction materials and operating systems designed to provide a healthier environment for tenants and visitors. Energy-efficient HVAC systems, finishing materials with no or low volatile organic compounds (VOC's), and a state-of-the-art air filtration system, are among the building's prominent environmental features. Provisions for enhanced Indoor Air Quality (IAQ), a proven benefit to occupant health, comfort, and worker productivity, rank 1001 Franklin among the most advanced office buildings in the U.S.

"1001 Franklin Avenue is an important model for successful green development in a walkable downtown area," said Eric Alexander, Vision Long Island's Executive Director. "The Albanese Organization has proven that environmental sustainability and urban development are not only compatible, but can work together to achieve the shared goal of environmentally responsible economic growth."

Several of the region's most prominent firms in the fields of law, insurance and financial services have signed leases at the building, including the law firm L'Abbate, Balkan, Colavita & Contini LLP; Janney Montgomery Scott LLC; Wachovia Bank; Builders Bank; E*Trade Financial; and Richard F. Ferrucci & Associates, LLC. Just 25,000 sq. ft. of prime retail and office space remain available.

"Providing a healthier indoor environment for employees, clients and visitors has become a priority for many companies. The ability to meet this new environmental expectation, while delivering the highest standards of building performance and tenant service, is going to be a determining factor for commercial leases acrossLong Island in the future," said Russell G. Matthews, Executive Vice President of the Albanese Organization and head of its Long Island development and leasing operations.

1001 Franklin Avenue is AO's first commercial green project and was developed in partnership with Castagna Realty Company, Inc., the owner of Americana Manhasset and Wheatley Plaza in Greenvale, NY. AO is widely known for its award-winning work in environmentally sustainable residential development in New York City, where it recently completed its second green residential tower in lower Manhattan and will break ground on its third in September 2006. The first of these projects, The Solaire (www.thesolaire.com), established AO as a standard-bearer in sustainable development, becoming the first residential building in the country to earn gold LEED certification from the U.S. Green Buildings Council and earning a coveted Top Ten Award from the American Institute of Architects (AIA) Committee on the Environment (COTE).