Posted By Bill Martyn on 06/09/2007 4:58 AM
I am the owner/developer in a new bldg prjct. I have been educating myself on "green tech". As we are in the initial stages of the project, I am in favor of incorporating these technical attributes into the building systems and the structure itself. I would love to make effective use of solar power generation, hybrid solar lighting, ground source heating/cooling and structural insulating techniques to produce an efficient sustainable environment.
The bldg itself will be approx 6100 sqft. streetside bldg face is to the W. The lot slopes from SW to NE creating the opportunity to utilize a NW corner basement area of 1500sqft and a main/street level of 4500sqft. ICF or block, white roof with solar panels or shingles???
Is it worth it to spend the $$ on LEED certification? what kind of return on investment can we realize by going green as opposed to conventional building practice methods and E ratings. We are located in central VA and get all 4 seasonal temp variations. Your thoughts and advice are greatly appreciated.
My company works on large commercial projects and I am currently involved on two LEED CS projects; one of which has been precertified as LEED Silver and the other should be soon. As I am sure you know, LEED covers much more than just energy efficiency, which is the easiest element to quantify. I believe there is a strong case to be made for higher sales price/rental rate for 'green' buildings. The difficult part is that you must hire a LEED accredited professional and pay the fees for filing and certification if you want the official LEED certification. This can be a constraint for small projects. Our view was not to target a specific certification level, but to go through the checklist and make logical decisions that benefitted the project.
My company has always done high quality, energy efficient buildings because it was the right thing to do from a business standpoint . We are just beginning to think how to leverage LEED and 'green' from a marketing standpoint.
I believe the construction cost premium to achieve basic certification or silver (as compared to a 'normal' high (emphasis on high) quality building) is very small. Gold or platinum will require a more investment.
Energy savings due to solar, better facade, plant and equipment, etc. (compared to a 'normal' building) can be quantified or estimated and manifests itself in lower operating expenses....a good justification for higher price/rent. It is also generally recognized that better lighting, ventilation, healthier environment, etc., leads to lower absenteeism and better worker productivity, but documented evidence is scarce. Finally, all other things being equal (which they seldom are), having a LEED certification could be a deciding point against a competing project that is not as 'green'. We have always tried to get people to focus on the cost of occupany and how that affects their overall business. Today, everyone is aware of the issues and are much more sensitive to being 'green'.
In any case, remember that most people still value a building by considering the cashflow and a discount rate......so do a realty check periodically. I suggest consulting the brokerage community in your area and aske their views on the value of 'green'.
Good luck,
Bruce