NEW YORK, NY - The real estate industry has many opportunities to make green changes and save some green while doing so. That was the message out of the first Green Real Estate Summit, according to event chair Ellen Sinreich. The Summit was held last week in New York City and drew about 200 attendees and webcast viewers interested in the opportunities and benefits of green building. "One of the keys for sustainability and making it cost effective is integrating your sustainable goals at the beginning of the project," said Sinreich, also the president of environmental consulting firm Green Edge.
When using green building practices from the start of a project, she said, there's no worry about retrofitting costs and figuring out payback periods. Although she said it's trickier to upgrade existing real estate portfolios, it can be beneficial in other ways.
There are some concrete savings from green building that can be calculated - less energy use, less water use, buying fewer supplies - but there are other benefits that aren't found on bills.
"If you build or retrofit a building that becomes a healthier building to be in what that translates into is more productivity," Sinreich said. Better air, lighting, heating, cooling and acoustics can all play into making workers more comfortable and less likely to get sick from being at work.
Green building programs and incentives were a big part of the Summit, Sinreich said, citing presentations on what is on the horizon with LEED as well as the abundance of government legislation, incentives and grants for green buildings. In some places, she said, projects that embrace sustainability can even get quicker approval. "When cities and towns are looking for ways to incentivise green building they are also looking for ways to make it not cost a huge amount," she said.
Sinreich also said the Summit touched on the trade-off between green building practices and aesthetics. A high-rise condominium project she is working on in Texas wants to use clear glass for most of the exterior. Clear glass, though, would cause the interior of the building to heat up more than darker glass, which would cost more and might not be as appealing to potential residents. In that case, discussions are ongoing about the costs related to the different options and how those choices could affect the future of the building.
Source: Greener Buildings