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Green Buildings ArticlesThe Greener Side of Commercial Real Estate InvestmentBy
Elaine
VonCannon Increase Your Profits With Sustainable Commercial Building In
2007 green building practices gained popularity at an accelerated rate. The American
consciousness of environmental issues has changed and the financial benefits of
building, living and working green are becoming more attractive to residential
and commercial real estate investors. Green design spotlights a variety of environmental
and human health concerns. - Reduction of exposure to toxic materials
- Conservation
of non-renewable energy and materials
- Minimization of the ecological impact
of building
- Utilization of renewable energy and recycled or earth-friendly
materials
- Protection of local water, air, soil, plants and animals
- Support
of transportation alternatives including walking, bicycles, mass transit and alternative
fuels
Many people are also surprised to discover that in 2007 green
design and building often cost the same as building more traditional designs.
According to the July 2007 issue of Today's Buyer's Rep, in an article
entitled Housing Trends Worth Watching by editor Julie Collins, a recent
survey by the National Association of Home Builders (NAHB) shows that 97,000 homes
have been built and certified by green building programs around the U.S. This
is a 50% increase from the last survey conducted in 2004. The Santa Monica Green
Building Program, reports, "Buildings have impacts on health as well as the environment.
It is estimated that half of all commercial buildings suffer from air quality
problems, resulting in poorer health of workers and other occupants". Green
Building and Design Options for Commercial Property Investments In the
commercial real estate industry economics and financial profit play an important
part in green building. Businesses, corporations and investors are more likely
to invest in green building if they know it will increase their bottom line. According
to Commercial Investment Real Estate Magazine, "When analyzing green economics,
commercial real estate professionals should consider long-term operating and maintenance
costs. These factors are beginning to affect leases, insurance rates, loans, and
other real estate practices as tenants, owners, banks, and communities recognize
energy efficiency's value". As technology advances and improves the performance
of lighting, heating, cooling and water systems the operating costs of buildings
will decrease. This will attract tenants and increase the value of your commercial
property to future investors. When building or purchasing a green commercial design
look for the following: - Energy Efficient Lighting Systems
- High
Performance Glazing
- Ventilation Systems
- Water Efficiency Systems
- Green
building materials (i.e. recycled materials or materials from renewable resources)
Incentives
for Commercial Green Building Increased profitability is the number
one reason commercial real estate investors are moving towards more green building
and design features. According to Building Momentum: National Trends For High
Performance Green Buildings, a report prepared by the US Green Building Council
for the US Senate Committee on Environment and Public Works, "Design features
that enhance energy efficiency and indoor air quality are cost effective strategies
for improving worker productivity and product quality. An increase of 1 percent
in productivity (measured by production rate, production quality, or absenteeism)
can provide savings to a facility that exceeds its entire energy bill".The report
provides examples such as Lockheed, an engineering development and design facility
in Sunnyvale, California and the Postal Sorting Facility in Reno, Nevada. Lockheed
built a high performance green facility and experienced a 15% decrease in employee
absenteeism that recuperated the extra costs of their facility within the first
year. The Postal Sorting Facility in Reno experienced a 6% increase in the number
of items sorted per hour when an alternative lighting system was installed. In
addition federal, state and local governments are now also offering incentives
to commercial builders and investors interested in a green approach. According
to the Building Momentum report "public and private entities offer financial
and regulatory incentives. New York, Maryland and Oregon offer tax credits for
LEED (Leadership in Energy and Environmental Design) certified buildings. Portland
(OR) and Seattle (WA) offer grants for energy modeling, commissioning and related
costs." The report continues to explain that, "Arlington County (VA) links preferred
zoning considerations for LEED projects. Santa Barbara (CA) and Scottsdale (AZ)
are some of the first jurisdictions to offer expedited permit reviews for buildings
with certain high performance features. Tax credits and other incentives are part
of broader green building assistance programs offered by a growing number of state
and local governments across the country." Green building programs have been developed
in California, Colorado, Maryland, New York, Pennsylvania and Wisconsin. As the
green building and commercial investment trend continues tax incentives will increase
and green building and design will continue to pay for themselves in more ways
than one. About the AuthorElaine VonCannon
is an award winning REALTOR with RE/Max Capital in Williamsburg, Virginia. She
specializes in retirement and relocation in the Williamsburg, South Eastern Virginia
area and in Virginia Estate properties. To learn more visit http://www.voncannonrealestate.com
or http://www.estatesinvirginia.com Article
Source: http://EzineArticles.com/?expert=Elaine_VonCannon
http://EzineArticles.com/?The-Greener-Side-of-Commercial-Real-Estate-Investment&id=879737  | Bob
Moore ConstructionThis website was created as a public service
to promote green building and LEED certification in Dallas / Fort Worth (DFW)
Texas, by Bob Moore Construction. Located in DFW, Bob Moore Construction is a
member of the U.S. Green Building Council (USGBC) and is the first Platinum Level
member of the USGBC north Texas chapter. Bob Moore Construction has been a leading
construction company in Texas since 1946, and is a member of AGC, Tilt-up Concrete
Association and the OSHA Local Partnership Program. | |
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