FLORHAM PARK, N.J., March 20, 2012 /PRNewswire/ -- Boomerang Systems, Inc., (OTCQB: BMER) a leading designer and manufacturer of fully automated robotic parking and self-storage systems, today announces that they have been chosen to provide a 480-space automated parking garage as part of the initial phase of the Old Capitol Green redevelopment project located in Jackson, MS.
Old Capitol Green is a 14-block downtown mixed-use, mixed-income redevelopment project. It is the largest green community in the state of Mississippi and will be the first to meet LEED for Neighborhood Development (ND) standards. Full Spectrum has been designated as Master Developer for the downtown site adjacent to the Old State Capitol. Entergy and the State of Mississippi currently own the site and share a collective vision to bring a new urbanism to the under-invested area while demonstrating best practices in environmental sustainability.
The Boomerang RoboticValet™ was chosen as a parking solution for the project because it offers significant space efficiency versus conventional parking systems and decreases the carbon footprint of the parking garage to support achievement of the high sustainability benchmarks required for the project. The fully automated parking and retrieval system utilizes robots to move cars on pallets throughout the structure. The technology eliminates the need for building ramps and reduces the number of drive aisles allowing the cars to fit in roughly half the space required by a conventional garage. Because cars are shut off before being parked in the garage, carbon emissions are reduced and less electricity is used for ventilation and lighting. In addition, substantially less materials are used in construction, and excavation is reduced. The garage will also feature innovative alternative fueling stations for recharging multiple plug-in electric vehicles.
Boomerang's automated robotic parking garage will be built in the initial phase with office and residential buildings sitting atop of the garage structure. The podium that the garage creates will allow for additional plaza space needed and square footage for installation of a Central Cooling Plant. Boomerang signed the initial contract to supply RoboticValet in 2011, and the recent approval to release $13mm of the $25mm investment from the State of Mississippi for Phase I of the project is an important milestone in bringing this project to fruition."We are excited to be working with Full Spectrum and the City of Jackson, Mississippi on the Old Capitol Green new urban community," said Chris Mulvihill, President of Boomerang Systems. "Together with Full Spectrum, we share a philosophy to create sustainable solutions for communities. We believe this recent funding milestone is a giant step closer to bringing residents of and visitors to Old Capitol Green a parking experience that is safer, more convenient and environmentally responsible." Carlton Brown, who is a founding partner and Chief Operating Officer of Full Spectrum and sits on the board of the U.S. Green Building Council (a non-profit organization dedicated to sustainable building design) commented, "Boomerang's technology enhances the value of the Old Capitol Green project by delivering an environmentally clean parking facility that can hold more cars in less space. Boomerang's automated parking solution is an integral component of the project, helping us meet stringent environmental standards while furthering our mission to create communities that are not just buildings, but increase quality of life, preserve safety and conserve resources for future generations." Full Spectrum of NY, LLC is the national market leader in the development of mixed-use and mixed-income green buildings in emerging urban markets. Full Spectrum believes that development and investment in emerging urban communities must do more than create shelter. The firm believes that investment in emerging urban communities must be structured to contribute to economic, social, cultural and environmental sustainability of today's community without compromise to future generations.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV