How Green is Green

How Green is Green

an article  by Chad Michaelson June 18 2012 12:17 am

The McGraw-Hill Construction study based on the last two years of available data shows that the US green building market continues to grow rapidly, i.e. 50 % for green office buildings, while in Pittsburgh alone, there are now at least 75 LEED-certified facilities. LEED stands for Leadership in Energy and Environmental Design, a rating system designed by the building council.

Builders or landlords prefer certified green buildings, as they get higher rents, have higher occupancy rates and sell for a 13 percent premium. Therefore, more building owners want to go green, but they usually do not have the money to build or renovate until they have tenants signed up. The vicious circle starts at this point as to get those tenants, owners and developers often tout the green features of the building and the expectation of green certification, rtification, which is awarded only after a building is complete. More than a quarter of all buildings drop out of the process before the certification is awarded or they get  a minor certification for the building  than was represented at the time potential tenants signed leases.

How green is green, to avoid a domino effect , where the tenants may terminate their leases, the lender may declare a default, the owner may lose tax credits or other incentives, and the partners and investors may sue, owners and developers must not over promise, while marketing materials should be a explicitly clear about the status of the building.

The question is again, how green is green in the civil world and what each one of us can do about it.

source:an article  by Chad Michaelson June 18 2012 12:17 am


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