GreenBuild Blog
Thursday, November 02, 2006
Green Real Estate Rocks!
I chaired a panel on “The Emerging Business Case for Green Development” at the NAIOP national real estate conference in San Francisco on November 1st. Two major developers, Vulcan in Seattle, and Corporate Office Properties Trust (COPT) in Columbia, Maryland, presented their approach to green development. A private company, Vulcan Real Estate is essentially doing urban infill in the South Lake Union district of Seattle, while Corporate Office Properties Trust, a public company, is doing suburban office buildings in Maryland, Virginia, Colorado Springs and San Antonio. Both are doing LEED Silver on their projects, and both report capital cost increases of 0.5%. This is exciting news, as it indicates that costs for developing green buildings are going down, as developers get more individual experience with green projects.
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