Latest news with #EchelonResources
RNZ News
a day ago
- Business
- RNZ News
Gas company urges political consensus on drilling for more fossil fuels
Flames on a gas stove. Photo: VIKTOR CAP / 123RF Investors will not be drawn to new gas field developments without broad political consensus, according to one of the country's few oil and gas companies. It comes as data from the Ministry of Business, Innovation and Employment showed the country's gas reserves were running out faster than previous expectations . Echelon Resources, formerly New Zealand Oil and Gas, said it supported the government's $200 million plan to co-invest in new gas fields , but called for greater political backing. Managing director Andrew Jefferies said New Zealand had gas prospectivity, but noted the nature of the industry meant the best wells were drilled first, and as basins matured, new drilling would have to occur in more difficult and more expensive wells. But he said as not all political parties were in favour of new gas exploration, it made it difficult for investors to commit long-term to ensure a return on investment. "As soon as you have political parties of any type saying 'well we're going to shut your industry down in the future', you just can't see that runway to invest now, to do the exploration, then to do the development and to produce the gas reserves," Jefferies said. New offshore oil and gas exploration was banned in 2018 under the Labour-New Zealand First coalition government, but the ban was reversed by the current National-New Zealand First-Act coalition. Last year, Labour said the reversal sent the country "backwards", while the Greens said the government was "tipping oil and gas onto the climate crisis fire". Jefferies said from an investment perspective, other countries offered better political consensus on gas. "In other jurisdictions, we're getting a very clear message that actually there won't be ideology that's driving the decisions as to what's the best fuel. We believe, and investors in the industry believe, that gas will be around for a while." Jefferies said if new gas fields were not developed, the country may have to start importing gas - which would require huge investment. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
05-05-2025
- Business
- Yahoo
Fort Monroe Lofts: New Apartment Residences Announced at Historic Fort Monroe
78-Unit Project Led by Echelon Resources to Blend Modern Living with Historic Preservation FORT MONROE, Va., May 05, 2025--(BUSINESS WIRE)--The Fort Monroe Authority and Echelon Resources are pleased to announce the launch of Fort Monroe Lofts—a 78-unit apartment community delivering modern living on one of America's most treasured landscapes. The project is being developed by Echelon Resources, a Virginia firm specializing in adaptive reuse projects across Virginia and North Carolina. Construction will begin later this spring and marks the beginning of a 14-building trajectory-shifting development at Fort Monroe. The Fort Monroe Lofts project will convert 67,000 square feet of historic Colonial Revival style buildings into a mix of studio, one-bedroom, and two-bedroom apartments. Expected delivery of the units is late summer/early fall 2026. Two buildings will be used: Randolph Hall, constructed in 1932 and once used as military barracks, sits near the entrance to Fort Monroe on the shore of Mill Creek. Building 100, completed in 1906 in the village section of Fort Monroe, was designed by nationally acclaimed architect Paul Pelz, best known for his design of the Library of Congress. To preserve and repurpose these historically significant structures for the 21st Century, the project team will utilize state and federal historic rehabilitation tax credits (HTCs), administered in Virginia through the Virginia Department of Historic Resources (DHR) and the National Park Service (NPS). These programs offer incentives to developers rehabilitating historic buildings in accordance with the Secretary of the Interior's Standards for Rehabilitation. The result is not only private investment in preservation but also significant public benefits, including job creation, community revitalization, and cultural landscape stewardship. The HTC programs are of paramount importance to making the redevelopment of these historic structures economically viable. "Fort Monroe's 500+ acres represent a globally significant convergence of culture, history, and ecological diversity, on the shores of the Chesapeake Bay," said Scott Martin, CEO of the Fort Monroe Authority. "Echelon Resources' multimillion-dollar investment in Fort Monroe's future further confirms the Commonwealth of Virginia's reputation as the best state in the nation for business. We are grateful for the leadership, boldness, and professionalism from the entire Echelon team. They 'get' Virginia and Fort Monroe." Echelon Resources has extensive experience in historic revitalization of buildings of various sizes, with a portfolio that includes Whirligig Station (Wilson, NC), Imperial Lofts (South Boston, VA), Maury Commons (Fredericksburg, VA), and Woodstock Lofts (Woodstock, VA) among others. "We're proud to partner with the Fort Monroe Authority on a project of such significance," said Edwin Gaskins, President of Echelon Resources. "Fort Monroe Lofts embodies our passion for preserving history while creating meaningful places for people to live. This site is unmatched in both story and setting." When complete, Fort Monroe Lofts will offer residents in-unit laundry, high-speed internet, on-site parking, and easy access to beaches, trails, restaurants, parks, and historical cultural landmarks." For updates and leasing information, visit About Echelon Resources Echelon Resources specializes in the adaptive reuse of historic properties, creating dynamic residential and mixed-use communities across Virginia and the Mid-Atlantic region. About Fort Monroe Authority The Fort Monroe Authority oversees the preservation and revitalization of Fort Monroe, a National Historic Landmark and National Monument, with a mission to protect its legacy and promote sustainable economic development. View source version on Contacts Media Contact: Phyllis TerrellDirector of Communications757 251-2754pterrell@ Sign in to access your portfolio
Business Wire
05-05-2025
- Business
- Business Wire
Fort Monroe Lofts: New Apartment Residences Announced at Historic Fort Monroe
FORT MONROE, Va.--(BUSINESS WIRE)--The Fort Monroe Authority and Echelon Resources are pleased to announce the launch of Fort Monroe Lofts —a 78-unit apartment community delivering modern living on one of America's most treasured landscapes. The project is being developed by Echelon Resources, a Virginia firm specializing in adaptive reuse projects across Virginia and North Carolina. Construction will begin later this spring and marks the beginning of a 14-building trajectory-shifting development at Fort Monroe. The Fort Monroe Lofts project will convert 67,000 square feet of historic Colonial Revival style buildings into a mix of studio, one-bedroom, and two-bedroom apartments. Expected delivery of the units is late summer/early fall 2026. Two buildings will be used: Randolph Hall, constructed in 1932 and once used as military barracks, sits near the entrance to Fort Monroe on the shore of Mill Creek. Building 100, completed in 1906 in the village section of Fort Monroe, was designed by nationally acclaimed architect Paul Pelz, best known for his design of the Library of Congress. To preserve and repurpose these historically significant structures for the 21 st Century, the project team will utilize state and federal historic rehabilitation tax credits (HTCs), administered in Virginia through the Virginia Department of Historic Resources (DHR) and the National Park Service (NPS). These programs offer incentives to developers rehabilitating historic buildings in accordance with the Secretary of the Interior's Standards for Rehabilitation. The result is not only private investment in preservation but also significant public benefits, including job creation, community revitalization, and cultural landscape stewardship. The HTC programs are of paramount importance to making the redevelopment of these historic structures economically viable. 'Fort Monroe's 500+ acres represent a globally significant convergence of culture, history, and ecological diversity, on the shores of the Chesapeake Bay,' said Scott Martin, CEO of the Fort Monroe Authority. 'Echelon Resources' multimillion-dollar investment in Fort Monroe's future further confirms the Commonwealth of Virginia's reputation as the best state in the nation for business. We are grateful for the leadership, boldness, and professionalism from the entire Echelon team. They 'get' Virginia and Fort Monroe.' Echelon Resources has extensive experience in historic revitalization of buildings of various sizes, with a portfolio that includes Whirligig Station (Wilson, NC), Imperial Lofts (South Boston, VA), Maury Commons (Fredericksburg, VA), and Woodstock Lofts (Woodstock, VA) among others. 'We're proud to partner with the Fort Monroe Authority on a project of such significance,' said Edwin Gaskins, President of Echelon Resources. ' Fort Monroe Lofts embodies our passion for preserving history while creating meaningful places for people to live. This site is unmatched in both story and setting.' When complete, Fort Monroe Lofts will offer residents in-unit laundry, high-speed internet, on-site parking, and easy access to beaches, trails, restaurants, parks, and historical cultural landmarks.' For updates and leasing information, visit . About Echelon Resources Echelon Resources specializes in the adaptive reuse of historic properties, creating dynamic residential and mixed-use communities across Virginia and the Mid-Atlantic region. About Fort Monroe Authority The Fort Monroe Authority oversees the preservation and revitalization of Fort Monroe, a National Historic Landmark and National Monument, with a mission to protect its legacy and promote sustainable economic development.
