Whether it’s multi-family housing, apartments, senior communities, medical campuses, or hospitality construction, green building doesn’t have to cost more, but can add significant value to the property.
The Building Design and Construction had these three takeaways from the World Green Building Trends Smart Market Report:
High-performing buildings can be sold at a premium, with the average green building worth 7 percent more than its traditional counterpart.
Green buildings, on average, are 14 percent less costly to operate than traditional buildings, with most new builds today achieving significantly more energy savings than that.
Market demand for green building is doubling every three years.
Consumer demands, increased legislation, and reduced utility costs, has made green buildings mainstream in the construction industry.
With today’s advanced technology means construction of green buildings can cost the same as traditional construction. These practices not only reduce energy cost and maintenance during construction and also operational practices, they are economically more efficient, environmentally responsible, and lessen the building’s carbon footprint.
Green Construction begins with an integrated design, careful collaboration and taking into consideration natural recourses, energy and ecosystems. Energy efficient materials, appliances, lighting, and water efficiency will attract renters and increase the value of the property.
LED lighting is one of the most cost effective measures, with quick paybacks and big returns. Water is also key, installing smart irrigation controllers, water efficient shower heads, faucets, leak prevention, and ensure the system works properly, studies estimate can save over 50 percent of water usage.
Many tenants of Multi-family housing are requesting units with low emitting materials for better indoor air quality. These products contain low or zero volatile organic compounds in items such as paints, countertops, carpets, cleaning products, sealants, and adhesives. They are also willing to pay higher rents for green construction.
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