10 GREEN BUILDING STUDIES OF INTEREST TO YOU
by Jodi Summers
We are always bringing you statics and reports – now we thought we’d bring you a succinct collection. Recently The Green Economy Post highlighted 10 noteworthy green building studies. We’d like to share highlights with you as well as the appropriate links so you can dig deeper. Enjoy and be green…
Global Green Building Trends: Market Growth and Perspectives from Around the World.
Research conducted by McGraw-Hill Construction Analytics regarding the global green building industry details the market trends and activities driving green building growth worldwide. The new research presented in the report indicates that green building has become a global phenomenon, with 53% of respondents expecting to be dedicated to green on over 60% of their projects in the next five years.
Reshaping Municipal and County Laws to Foster Green Building, Energy Efficiency, and Renewable Energy
credited to Edna Sussman – Hoguet Newman Regal & Kenney LLP
The efficient use of energy in the built environment has been recognized by the Intergovernmental Panel on Climate Change (IPCC) and many other experts to offer a potential greater than any other sector to reduce CO2 emissions using mature cost effective technologies. Many governmental units and professional organizations have committed to a goal of carbon neutrality in buildings by 2030. The paper offers an outline of how local governments can have a critical positive impact on global warming and on meeting these goals by creating a receptive legal environment and enacting mandates that foster green buildings, energy efficiency, and renewable energy both in government operations and by the general population.
Using Mandates and Incentives to Promote Sustainable Construction and
Presented by the Social Science Research Network, this report emphasizes that timely, meaningful movement toward sustainability in the U.S. building industry requires state-level legislation that promotes, and sometimes even mandates, green building standards at the regional and local levels.
Corporate Responsibility and Sustainability Dollars & Cents of Green Retrofits
This joint study by Deloitte and Charles Lockwood that shows there is substantial statistical evidence that green buildings are better for the environment than conventional buildings. Many forward-thinking companies are realizing that green buildings can be better for business, too. Green buildings offer their owners and tenants a number of bottom-line benefits, including reductions in water and energy use and costs; opportunities with respect to tax credits, permitting, and other regulatory incentives; and greater worker productivity and satisfaction, improved brand image, and better community relations.
Cascadia Value of Green Building Study
This report by the Cascadia Region Green Building Council, the Vancouver Valuation Accord and Cushman & Wakefield is a tool to help bridge the gap in understanding between the green building and financial communities. It is a study of office buildings in Seattle, Portland and Vancouver, BC and identifies how high-performance green features and systems can increase the value of commercial buildings. The report outlines how value was achieved and how sustainable attributes impact costs, savings, investment income, and capital value.
Energy Efficiency Retrofits for Commercial and Public Buildings
Presented by Pike Research, this paper focuses on the energy efficiency retrofit market, which recently received a major boost from the American Recovery and Reinvestment Act of 2009 (ARRA). The paper observes that the largest potential for long term, sustained growth in commercial building retrofits lies in the private commercial space. Compared to conventional space, high-performance green building space is vacant less often and commands premium prices, leading commercial building owners to adopt green retrofits as a market differentiator.
The Green Building Revolution: Addressing and Managing Legal Risks and Liabilities
Harvard Law School Environmental Law and Policy Clinic – As green building expands from the exception to the rule, certain legal risks are inevitable. For building green to become a standard business practice, parties involved in project construction and management – owners, buyers, tenants, design professionals (architects, engineers, and consultants), contractors, and subcontractors – must become familiar with the legal risks and liabilities associated with green building, as well as strategies to minimize them. This white paper addresses the current movement toward green building, the increasing number of mandates requiring it, and the benefits and costs associated with building green; analyzes the legal risks and potential liabilities to those involved in green building; and concludes with practical recommendations for minimizing such risks and liabilities.
Green Building: Assessing the Risks–Feedback from the Construction
Marsh, the world’s leading insurance broker and risk advisor, reports lays out the concerns that building owners, contractors, and design firm executives are most concerned about with regards to green buildings. They include risks that may be associated with these projects, including potential financial exposures, uncertainty about evolving regulatory standards and legal issues, validating the qualifications of
consultants and subcontractors, and assessing the long-term performance of green building materials, among other potential issues in green design and construction.
The International Facility Management Association Green Practices Study
This IFMA study involves the measurement of attitudes and behavior of facility managers in relation to implementing sustainability initiatives at their organizations.
Overcoming the Social and Psychological Barriers to Green Building
This University of Michigan article argues that environmental progress in the building design and construction industry will continue to stall if the significant social and psychological barriers that remain are not addressed. After surveying the three levels of barriers—individual, organizational, and institutional—the article concludes with seven strategies for overcoming them.
The workers on the top girders can see the earth’s rotation.
CHINA’S OFFICE PROPERTY MARKETS ARE ABOUT TO EXPLODE!
By Jodi Summers
China’s secondary and tertiary markets are beginning to play a greater and greater role in the country’s real estate market, and analysts are speculating that China’s property market could quadruple in size by 2020.
The information comes courtesy of a report from at Jones Lang LaSalle titled China40: The Rising Urban Stars report.
“China’s Tier II and Tier III cities are dynamic centers of economic development and continued growth,” says Michael Klibaner, head of research Shanghai. “Massive infrastructure investment makes these markets increasingly accessible at a time when interest in China has shifted from being export oriented towards a focus on the domestic market.”
Analyzed in the report were the 40 top Tier II and Tier III cities which will be a strong future investment value. Each city was further analyzed for it real estate strengths. For office, Tianjon, Chongqing and Nanjong made the list; in retail Changsha, Wuhan and Wenzhou; and in Logistics Chengdu, Qingdao and Zhengzhou.
“The future evolution of China’s cities and their real estate markets will be driven by a rich combination of factors that are strongly influenced by government policy,” the report states. These policies focus on urbanization, with plans in place to see the city population explode to 850 million people by 2020. “The government’s ideal end vision of the urbanization process is a country wide network of environmentally sensitive cities each with their own unique competitive advantages and strong trading connections.”
China’s grade A office supply is roughly the size of Washington, DC’s entire supply, averaging 39.4 million square feet by the end of the year. But by 2011, that supply is expected to expand to 68.9 million square feet, with half the increase due to development projects in the Tier II and Tier III cities. The demand in these cities is being created by real estate advisors, insurance services and the banking sector.
JLL lists Dalian, Chengdu, Hangzhou, Shenyang, Wuhan, Tianjin, Nanjing and Chongqing as having the greatest potential to become robust office hubs.
Sacre bleu! Los Angeles is a better real estate…according to Forbes.com. In a recent top 10 article called World’s Best Places For Real Estate Buys, Ten cities investors will target in 2009 our beloved Los Angeles was #7 – after San Francisco and before Paris.
Washington D.C. topped the list this year, thanks to the proposed $1 trillion swell of government spending. As Forbes notes, “At present, D.C. has the lowest unemployment rate in the country–4.1%, compared to the 7.2% national average. With President Obama’s stimulus package recommending $1 trillion in new spending, it’s unlikely government jobs–and those they support–will be leaving the District anytime soon.”
Not many investors were looking at L.A. in 2008, as we were hammered by the subprime crisis and a massive volume of foreclosures. As we all know, our perceived property poverty curtailed spending and our whole local economy limped along. We were 19th on the 2008 Forbes World’s Best Places For Real Estate Buys, so this 12-point rise is a huge boost for real estate morale.
“It’s all about perception,” notes a local investor. “If people perceive Los Angeles is a good value, then it becomes a good value, and prices grow strong.”
Good news for local property owners – sales surged 102%in the residential sector, according to Radar Logic, a derivatives firm, and Forbes notes that this wave “has that market hinting at a bottom.”
The 2009 Top 10 Best Places For Real Estate Buys
1. Washington, D.C.
2. London, U.K.
3. New York, N.Y.
4. Tokyo, Japan
5. Shanghai, China
6. San Francisco, Calif.
7. Los Angeles, Calif.
8. Paris, France
9. Houston, Texas
Please note Forbes’ rankings come from the Association of Foreign Investors in Real Estate, a research association that tracks where member investors are finding the best opportunities around the world.
Here are the top 10 emerging cities:
- Shanghai, China
- Beijing, China
- Budapest Hungary
- Kuala Lumpur, Malaysia
- Santiago, Chile
- Guangzhou, China
- Mexico City, Mexico
- Warsaw, Poland
- Bangkok Thailand
- Shenzhen, China
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