The results of the first systematic study of green buildings are in and they look good! Specifically, the study filtered sample data to Class A office buildings larger than 200,000 sf, 5 stories or more, built since 1970, and multi- tenanted. To compare green versus non-green, they used Energy Star and non-Energy Star buildings, and therefore, the sample contained 223 Energy Star buildings (111.7 million square feet) and 2,077 non-Energy Star buildings (889.1 million square feet). The results: (1) HIGHER occupancy rates, (2) HIGHER rental rates, and (3) HIGHER sales prices psf for Energy Star buildings.
The study also contains some interesting nuggets of information with respect to LEED and green development. You’ll notice that in terms of green developments in process, California is followed by the ambivalent, oil/wind-loving state of Texas. You’ll also notice that Hines is not only the leading developer of green buildings, but it’s the leading owner of green buildings (raising the inference that it’s good to be both the owner and developer of green buildings). And the top two types of tenants in green buildings are financial institutions and law firms. Lawyers aren’t that bad now are they?
The study drafters note that some changes need to be made to further accelerate acceptance of green buildings. They also note that the real barriers to going green are "mostly a lack of planning and education." Well, we’re hoping to change that here at Jetson Green. Via Yudelson Associates.Article tags: Development, Green Business