There are still some people out there that don’t believe green + sustainable building will last. In the September edition of Real Estate Forum magazine, there is a lengthy article with reflections and predictions from some of the most notable names in real estate (for example, Milton Cooper, CEO Kimco Realty Corp.; Richard Camp, Chairman + CEO Camden Properties Trust; and Michael Pralle, President + CEO GE Real Estate). These are the heavy hitters of real estate–people that make it their business to look forward and understand the trends affecting the industry. That said, I found two quotes that I had to pass on to the Jetson Green readership…
RE Forum was able to catch up with Jeffrey Schwartz, CEO of ProLogis, and ask him what he thinks will affect the industrial sector. He said,
In terms of sustainability, governments and corporations are becoming more sensitive to the environmental impact of industrial development. It’s amazing the amount of energy you can save with the quality of a facility and the air-tightness of the building. The costs are slightly higher, but the payback is phenomenal for the customer, from both sustainability and an economic standpoint. It takes a lot less money to heat and cool buildings if they are properly constructed and more environmentally conscious.
Later in the article, RE Forum quoted Gerald D. Hines, Chairman + Founder of Hines, with respect to his opinions on the future of real estate development. He said,
It becomes increasingly clear that improving cities is not only the right thing to do, but good business as well. Five decades ago, there was a tremendous move to the suburbs; today there is a return to the cities…rather than developing greenfields, … many developers are returning to their urban roots and transforming abandoned industrial sites–brownfields–into new uses. Therefore, now, more than ever, sustainability has become a key component of development.
These are seasoned professionals talking about sustainability, green buildings, and environmentally-conscious development. This is mainstream stuff. I keep saying this, but it seems that some of the professionals out there aren’t listening: Green building is the future. Since 90% of the world hasn’t caught on, you have a competitive advantage to exploit.
Article tags: Development, Green Business, residential