The Business Case for Green Buildings: Chapter 3 of The Green Building Revolution
The business case for commercial green buildings is simply stated: if your next project is not a green building, one that’s certified by a national third-party rating system, it will be functionally outdated the day it’s completed and very likely to under perform the market as time passes.
The business case for commercial green buildings is simply stated: if your next project is not a green building, one that’s certified by a national third-party rating system, it will be functionally outdated the day it’s completed and very likely to under perform the market as time passes. That bold statement has been echoed by a well-known real-estate expert, who bluntly claimed that trillions of dollars of commercial property around the world would soon drop in value because green buildings are going mainstream and would render those properties obsolete. In a meeting in Sydney, Australia, in 2007, the head of Australia’s Property Council, representing the entire development industry, claimed that no large developer in that country would ever start another project that wasn’t going to be at least LEED Silver (Australia Four Green Stars) certified. Within two years, the business case for green buildings is going to be part of “business as usual.” Jerry Lea of Houston-based Hines, a strong proponent and developer of ENERGY STAR and LEED buildings, says,“I think sustainable is here to stay. I think the definition of ‘Class A’ buildings very soon will include sustainable design and probably LEED certification.” Richard Cook, a prominent architect in New York City, says, “In five years, it will be clear that buildings not reaching the highest standard of sustainability will become obsolete.”
This is an excerpt from Jerry Yudelson’s book, The Green Building Revolution.
To read the entire chapter, click here to download the PDF version.
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