Mantria Communities, L.P. Introduces Tennessee's Largest Master Planned Community, Mantria Place: The First Carbon Negative Community in the Nation
PHILADELPHIA--(Business Wire)--
Mantria Communities, L.P. proudly announces the recent $17.5
million acquisition of 5,500 acres in Middle Tennessee (Sequatchie
County) and plans for the nation's first carbon diversion power
system. Tennessee's largest master planned community, Mantria Place,
will boast two championship golf courses, two lakes/marinas and over
2000 acres of green space.
"We pledge Mantria Place will be the first carbon negative
community in the nation by 2011," states Troy Wragg, Mantria
Corporation Chairman and CEO. "Carbon neutral is simply not good
enough given today's environmental issues. At Mantria, we believe that
we must go much further to truly help our planet. Our goal is to be
carbon negative."
Mantria Place will take several steps to ensure this goal. To
begin with, each resident will be required to pay a universal carbon
tax. The carbon tax is fixed at $50 per ton, with an estimated 40 tons
of carbon being emitted per household, for an annual tax of $2,000.00.
Secondly, by focusing on more organic development products, such as
organic concrete, faux rock and bio-diesel bulldozers, Mantria Place
has pledged to reduce development emissions by 25%. Thirdly, Mantria
Place will be implementing an industry revolutionizing carbon
diversion system that will create 100% green power to the community by
converting waste into energy. The surplus green power the system will
generate will ultimately be sold back to the local power companies,
thereby offsetting more carbon and creating a more positive
environment for the surrounding area. Lastly, Mantria Place will be
investing in carbon credits focused on reforestation, offsetting the
balance of the carbon footprint.
"At Mantria Place, our carbon footprint analysis accounts for
everything from the actual development to the projected long-term
water usage of our golf courses to the paper products that will be
each of our restaurants," states Amanda Knorr, Mantria Corporation
President and Chief Operating Officer.
Based on the belief to obtain financing from the non-conventional
sources, Mantria Place received a loan from The Maclellan Foundation,
a $400 million dollar not-for-profit organization which has served the
evangelical and Chattanooga communities for over sixty years.
Mantria Place is a wholly owned subsidiary of Mantria Corporation,
a diversified, $61 million company focusing on green community
development, socially responsible investing, distressed real estate
fund management, mortgage banking, music and entertainment, creative
financing and international fractional ownership sales and marketing.
At the foundation is Mantria Green - a set of pioneering principles
for developing premium land and real estate with carbon emission
offsetting and environmentally conscious design.
Based outside of Philadelphia, Mantria Corporation has additional
offices in Tennessee, Los Angeles and Beijing. Mantria is proud to be
the lead developer in the Middle Tennessee market, with five Master
Planned Communities currently underway. Mantria has a total of eleven
divisions, and 30 total operating companies, including The Mantria
Foundation, Inc. - a philanthropic arm of Mantria whose mission is
improving the health of children and communities through targeted
donations to charities that are aligned with Mantria's mission.
For more information, please visit www.mantria.com.
Agile Cat
Amber Kealey, Public Relations Director
215-508-2082
amber@agilecat.com
Copyright Business Wire 2008
