Archive for the ‘Research’ Category

Do green buildings sell better than their counterparts?

Wednesday, November 26th, 2008

At one of the Greenbuild session I attended last week, Andy Florance, CEO of CoStar, said the biggest lie in the construction world used to be “my building is under construction.” Now, he said, “that lie has been replaced by my building is LEED certified.”

What is the gold-green standard? Image courtesy Kristopher Lee

What is the gold-green standard? Image courtesy Kristopher Lee

That got me thinking about what the highest standard of green building is. Is is LEED platinum? Is it a living building? What about a building that is netzero energy? So I’ve posed the question to you in a new poll at right, and would love to hear what goal you think all buildings should be striving for, if they should be striving for any green goal at all. Or comment below and tell me what standard you think is the best.

But I digress, back to the topic line: do green buildings sell better than their counterparts? According to CoStar, that answer is yes. 

CoStar did a study of the buildings in its entire U.S. database between the first quarter of 2006 and the first quarter of 2008, and based on that information, LEED buildings were 4 percent more occupied than their competitors, renting at $11.33 more per square foot and selling at $171 more per square foot, a 64 percent advantage. Both the occupancy rates and rental amounts climbed - from 4 to 6 percent and from an $11.33 to $18.58 advantage - if you count the past two quarters of this year.

But, Florance cautioned, that information is going to be really tough, if impossible, to measure in the future, thanks to the current state of the economy.

If you want more factual information, read my article in the DJC here that has loads more information on the topic. Or you can see a version of this study dated March here.

Looking for energy incentives and rebates? This may be your answer

Wednesday, August 20th, 2008

This is a monthly post by different representatives of the Northwest Building Efficiency Center. This post was written by Margaret Thomas. 

As a librarian for several years at a library specializing in the area of nbec-logo-sq-3colorsmall.jpgenergy, I responded to questions about energy-efficiency from homeowners, and those responsible for building, renovating or maintaining commercial buildings.

Often, what they wanted to know is: are there any rebates or other financial incentives to help me pay for energy-efficiency improvements? Of course there are, but they are as scattered and unpredictable as mercury on a marble floor.

A variety of utility, local, state and federal organizations offer help. But their programs are buffeted by budget cycles and political whims—they come and go with the seasons. Who keeps up? The Database for State Incentives for Renewables and Efficiency.

The Web site comes with a dangerous URL: dsireusa.org. Get it wrong and you may be in for a shock. Get it right and you are connected to the single most useful and up-to-date source I know of for information about financial incentives.

DSIRE has been around for more than a decade and established itself as a central clearinghouse for information about financial incentives from every source. Funded by the U.S. Department of Energy, the database is managed by the North Carolina Solar Center and the Interstate Renewable Energy Council. They contact program managers regularly and update the database daily.

Posted on the front page is a clickable map of the United States. Choose any state and you get a menu including applicable grants, rebates, tax exemptions, and loan programs. The site also keeps track of relevant rules, regulations and policies.

If you don’t have time to clip coupons or shop around for energy incentives, bookmark DSIREUSA. It’s sites like this that can make a librarian feel as useless as the Maytag Repairman.

Study says green = a better value, quicker sale. Do you agree?

Wednesday, July 2nd, 2008

Yesterday I wrote a story about how GreenWorks Realty  of Seattle crunched some numbers, did a little addition… and discovered that even in the not the best (to say the least) housing market over the last year, green homes in King County have sold quicker and for a higher value than their non-green counterparts.

GreenWorks looked at homes sold on the Northwest Multiple Listing Service small-gb.jpgbetween September 2007 and May 2008 that were “environmentally certified” - here that means LEED homes, Energy Star, or the Master Builders of King and Snohomish Counties’ Built Green Program.

On average, single family homes sold for four percent more, 18 percent quicker, and were 37 percent more valuable per square foot.

To see more or learn how condos measured up, visit GreenWorks to look at the numbers yourself here. (By the way, this is some of the first analysis of its kind).

Now, recently a pretty high level developer in the Seattle area told me there was no point in developing office space that wasn’t LEED certified anymore, because it is going to lose its value quicker.

Combine that with this research saying green homes sell quicker and for more, and logically, building green seems to make sense.

But there are a lot of challenges to building green, not to mention building green well. I could go off about the issues forever: some green systems are so new they are untested or people don’t know how to install them, it’s difficult to know if something is really green, green is “more expensive….” But I would rather hear from you.

If you can take a moment out of your holiday weekend, answer me this: What stops you from building green? If you work on residential projects, could these numbers convince you to try something new? Do these numbers matter at all and why? Do they matter in your neck of the woods, or is the information too Seattle-area specific?

And is it better for someone to do bad green design or do nothing green at all?

Or heck, you can just answer the poll at right!

I’m all ears. To read the story, press here.