Entrepreneurial New Resource Bank + Green Lending Residential Solar Systems

New_resource_b Sustainable business entrepreneurship requires sophisticated financiers, so I wanted to let the Jetson Green readers know about an innovative, newly-founded banking institution called "New Resource Bank."  They are "financing sustainable resources in [their] community."  The bank was started by a group of entrepreneurs with expertise in the banking industry, and their start-up story is revealing:  240 founding shareholders subscribed to $24.75 M of the bank’s stock offering, and the community backed it as well bringing the initial subscription amount to $35 M–that’s a 60% over-subscription.  This made it one of the largest initial capitalizations for a start-up bank in Northern California.  Talk about suppressed demand for sustainably-minded banking institutions and investments!

They are all about green.  The bricks + mortar bank was certified LEED-CI Gold.  Plus, they announced an alliance with SunPower Corp. (company that manufactures high-efficiency solar cells and panels) to provide one-step financing of residential solar energy installations.  Under the program, customers work out a home-equity type loan that allows monthly payments on the solar installation while they save money on their electricity bills.  Factoring in governmental incentives, and if there are local incentives, you could end up with a mad case of energy and financial independence.  Typical financing is for 25 years on a system ranging from $20,000-40,000 (before federal, state, + local incentives).  If you’re a Californian, after the Governator’s program kicks in, there should be no reason not to go solar.  Tip via GreenBiz.

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By |October 27th, 2006|LEED, Solar|0 Comments

Cincinnati City Council Passes Ordinance Granting Tax Benefits to Green Builders

Cincy_skyline On September 20, 2006, Cincinnati City Council took a bold step to pass an ordinance, at the motion of council members Laketa Cole and Chris Bortz, that provides tax and $ incentives to residential and commercial developers that build or rehab structures to LEED standards (Certified, Silver, Gold, or Platinum).  Even more notable was the simultaneous creation of a Community Development Block Grant, which aims to provide financing to residential (low or qualified mixed-income) structures built to LEED standards by paying the difference between the cost of the LEED building versus the cost of the building if it were built to standard codes. 

Carew_tower City Council is thinking also about establishing a "green permitting" process, which would allow green developers to bypass the bureaucratic bottlenecks and move to the front of the line for development approvals.  This is great news.  Developers are always looking for a way to get their projects approved, so green permitting will force them to rethink their options.

The LEED-H standard, which is the USGBC‘s standard for residential green homes, is relatively new, when compared to the LEED standards for commercial building.  LEED buildings will start to gain in popularity and provide tangible benefits to the city because green buildings use less water, less energy, and pollute less.  And from what I understand, there are tons of cities out there (other than Cincinnati) that have water shortages, energy shortages, and dirty skies–why not empower your citizens and businesses to solve resource problems by building green?  It’s one of the smartest things you can do as a politician, regardless of your partisan affiliation. 

By |October 25th, 2006|LEED, News, Solar|0 Comments

Skyscraper Sunday: Hunt Consolidated Office Tower Going LEED Green?

Rendering_1 About one year ago yesterday, Hunt Consolidated Inc. broke ground on a new office tower, which borders on Akard Street and Woodall Rogers Freeway.  You’ve probably seen it, it has massive cement beams curving on its northerly face.  The building is being developed by Woodbine Development Corporation, which is partially owned somehow in the Hunt Consolidated Empire.  I heard from a friend (hearsay, I know) that Chairman Ray Hunt, or some other c-level executive, was asked at a luncheon whether the building was going to be green and he equivocated saying something like, "Well, we’re not going to build green just to build green, but we’ll do it if there are tangible economic reasons to do it."

Rendering2_1 I did some research and it looks like Hunt Consolidated Office Tower is registered with the USGBC as LEED-CI v2.0, otherwise know as the green ratings standard for commercial interiors.  If my understanding is correct, that building is to be 100% owner-occupied, so Hunt is going green inside?  Not sure.  Here’s what I know.  It will be a $120 million, 400,000 square foot, 15 story building.  Gensler, which is #2 in the US for having the largest number of LEED Accredited Professionals, will be doing the interiors.  So they have the know-how to go green on the inside.  The entire structure was designed by Dallas-based Beck Group and the general contractor is Austin Commercial.  Looks like it may be going green, but if the decision is still in the air, here’s my two cents:  what’s more economic incentive to build green than a $6.3 million tax abatement over 10 years?  That abatement should cover the 1% premium (if that) required to go green.   

By |October 22nd, 2006|LEED, Modern architecture, Modern design, Skyscraper|0 Comments

Case for State + Local Renewable Energy Rebates: Solar Umbrella House (2006)

Project_house Green Wombat reports that the Governator was pumping up California’s commitment to create 3,000 megawatts of new solar-produced, clean energy by 2017.  Think about that.  We’re talking about governmental support for empowering and supporting residents to generate their own energy.  Relatedly, the Solar Umbrella House is a modern + green example of what can happen when home owners take advantage of the governmental benefits of clean energy subsidization.  It was an AIA/COTE Top Ten Green Project in 2006, by architect Pugh + Scarpa.  What more can I say than that the Solar Umbrella House looks good and sunlight provides 95% of the electricity (less than $300 /year in energy bills). 

In addition to being designed passively to optimize the balance of sun and shade, the home has 89 amorphous photovoltaic panels that are connected to the grid with a net meter provided by the city of Los Angeles.  The house is decked out with energy-efficient everything.  Indoor air quality is perpetually monitored.  The design is LEED-H (v2) consistent.  Certified wood, recycled materials + salvaged materials were used all over the place. 

COSTS:
The photovoltaic system, solar hot-water system, thermally broken glazing, and energy efficient appliances cost about $39,000.  Not cheap, but that’s where rebates come in.  To pay for the solar panels, there was a $18,600 rebate from the City Department of Water and Power and a $4,000 rebate from the federal government.  After applying the rebates, the payback on this investment becomes 12 years, and the solar panel warranty lasts for 25 years.  Not bad. 

Books_and_stairs Bedroom_1 Back_yard

So what’s the big deal?  If your city isn’t on board with clean energy, there isn’t a 12 year payback and you continue to buy electricity created from dirty coal plants (unless it’s a green provider).  Which is better?  Option A) independent, site-generated electricity that pays for itself after 12 years + is warrantied for 25 years + creates lower electricity bills or B) no site-generated electricity + persistently increasing electricity bills + dirty air.  This is common sense, get your state and local governments to support renewable energy so that you can create a better living environment for your family.  If you do it like the Solar Umbrella House, you can do it in green style!

By |October 19th, 2006|Gadgets, LEED, Modern architecture, Modern design, News, Solar|0 Comments

Starwood Capital Group Announces New Green Hotel: 1 Hotel + Residences

Starwood_capital_group Early last spring, I was looking into the faces of 45 bored students, giving my 4 minute business plan pitch for a trendy, green hotel concept geared specifically for young professionals ages 20-40.  I had it all laid out:  kiosk integration for mundane tasks, high customer service, green shuttle service, LEED certified hotel construction interior and exterior, teamwork style cleaning, paperless everything, free internet, slightly smaller rooms with mega-style, modern art + photographs, etc.  People were like, "I don’t know if that will work."  "What’s wrong with the Hilton or La Quinta."  Well, it looks like my instincts were right:  Starwood Capital Group announced plans to launch a new brand, "1" Hotel and Residences, as a luxury, eco-friendly global hotel brand.  The first hotels will be in Seattle (late 2008), Mammoth Lakes, Scottsdale, and Fort Lauderdale (in order of opening).   

Let’s face it, the entire industry will head this direction because hotels are levered to the cost of energy in two ways:  (1)  people travel less as transportation energy costs rise and (2) hotel’s profit margin is squeezed by the energy costs of running a building.  Up until now, most hotels haven’t really attacked this problem by looking at the entirety of the situation:  by building green hotel buildings!  So trend-setting hoteliers like Starwood are going to make money because they are operationally smart.  I’m excited about this green development.  After the initial locations, "1" will expand to New York, Los Angeles, + Washington D.C., soon thereafter.

Sustainability:
The hotels will be LEED certified in and out.  Natural Resources Defense Council (NRDC) will act as environmental advisor for the brand.  Each "1" location will donate 1% of its revenues to local environmental organizations.  The first four hotels, and most of the hotels, will be new construction, but Paris will be a renovation.  "1" emphasizes air and light, offering a fresh, invigorating, and alternative way to travel.  Inundated with the "richness, beauty and variety of colors, textures and materials," guests and residents (sounds like a multi-use platform) may not realize the myriad of ways that their building is stepping lightly on the earth.

Good Links:
++Starwood Plans Green Hotels [South Florida Business Journal]
++Starwood + Sternlicht Unveil Groundbreaking ‘1’ Hotel Concept [Press Release]
++Starwood Capital Group [Official Website]

By |October 18th, 2006|Hotel, LEED|7 Comments

Blog Notes From Leo Marmol Lecture in Dallas (10/14/2006): Prefab + Environmentalism

Other_front On Saturday at the Frontiers of Flight Museum in Dallas, Leo Marmol was kind enough to spend an hour and talk about his firm‘s work in the design-build and prefab context.  I was looking forward to this lecture for about 2 months and was not disappointed.  Marmol lectured on his firm’s work with mid-century modern residences and the four standards (Secretary of Interior Standards) for renovation:  preservation, rehabilitation, restoration, + reconstruction.  Towards the end of the lecture, he started to get into his firm’s prefab work and environmentalism. 

Here are some notes…

  • As a site-build firm, we know very intimately how inefficient and stupid architectural processes are.  We live with that stupidity everyday.  It’s a really inefficient, wasteful, cumbersome process that we use to build today.  There’s a lot of reasons why we still do it, but it’s inherently wasteful, so our goal is to build as much as possible in the factory. 
  • We’ve seen lumber + steel prices climb, and even labor is a little strained.  Materials are getting more and more scarce, more and more, therefore, valuable, and more and more expensive.  That will continue in the future. 
  • We’ve seen the rise in design with the iPod and with Target enlisting Philippe Starke to create a toothbrush.  Design is a marketing opportunity to set your firm apart from the norm. 
  • With Prefab, the goal is to provide clean, simple, modern living and do it as cost-effectively as possible.  So prefabrication is a means to deal with the rising construction costs. 
  • If you’re an architect and a builder, and you don’t have guilt, you’re not paying attention.  We put so much attention on the auto industry, but it pales in comparison to the architecture industry.  Architecture is the greatest polluting force on the planet.  There is no other industry on the earth that uses more of our earth’s resources than construction and there is no other industry to releases so many polluting, bad things back to the earth.  Prefab allows us to deal with this guilt and be more efficient. 
  • Sometimes the media gets it wrong with regards to prefab, but they are enthusiastic about this technology.  That enthusiasm can lead everyone astray.  Prefabs are not manufactured homes.  Prefabs won’t save the world or deliver homes for under $100 a square foot.  Prefab is not a magic bullet.  They are cheap in comparison to custom, architect-designed homes (LA price:  $400-600 sq.ft.), but they are not necessarily cheap.  Building homes is difficult and takes lots of money + materials. 
Back_and_pool Kitchen_1 Bedroom

It should be noted that Mr. Marmol’s prefab division is making a conscious choice to be environmental in the construction of prefabs.  The prefabs are designed to receive LEED certification, made from recycled steel, employ Structural Insulated Panels (SIPs), and use FSC-certified wood, low-VOC Green Seal paint, solar panels, etc.  Each prefab is designed with the site in mind so the structure can be attentive to natural light and shading.  And if you’re interested in seeing one, there’s an open house in California (instructions below). 

Open House of the Desert House:
October 28, 1 pm – 6 pm
Desert Hot Springs, CA
RSVP NOT REQUIRED
Navigate the Website for Map

By |October 16th, 2006|LEED, Modern architecture, Modern design, Prefab, Recycled|1 Comment