CPN 2008 GreenBook

Green Update Green Future For Multi-Family By Steve Patterson Builders sitting on the fence about green initiatives are missing golden opportunities. M ulti-family builders and developers wondering whether to adopt green building practices can rest assured that green builders have been eating your lunch while you’ve been reading the restaurant reviews. The future of multi-family—and of all residential construction—will be green. The combination of limited natural resources and exploding development in China, India and the Third World will continue to constrain supply and push energy and building materials prices higher. The costs involved in building and operating multi-family structures will rise significantly, so we need to reconsider what we build and how we build it. McGraw-Hill Construction Analytics estimates that while green buildings formed only 2 percent of the residential market in 2005, they will encompass 6 to 10 percent this year and 12 to 20 percent by 2012. We also must rethink the way buildings operate because the expectations of residents, both renters and buyers, have changed. Consumers want more energy efficiency, more earth-friendly products and finishes that do not adversely affect their health. They also want to use their cars less. If developers do not address these factors, local jurisdictions may choose a response for them. A fair number of cities and counties already have mandated that developers build multifamily properties to the requirements of rating systems based on LEED, a system that was not designed to apply to residential construction. Some governments have even required LEED certification, for which the application alone can be onerous and expensive. Some builders and developers are taking a proactive stance. Several build green because they believe it is the right thing to do, and in certain markets, the buyers and renters back them up. Others build green as a selling point for prospective buyers and renters. But how green is green? Options range from basic energy-efficiency upgrades to cutting-edge features. The National Association of Home Builders awarded this year’s Multi-Family Pillars of the Industry Community of the Year award to Mosler Lofts, a green condominium property in Seattle. Its developer, The Schuster Group, and architecture firm, Mithun, aimed high. They built downtown and near public transportation, used steel that included recycled content and wood products certified by the Forest Stewardship Council and planned for minimal job-site waste. The building’s insulated windows open to the breeze. High-efficiency appliances and ductless heating systems cut utility costs. A roof that is covered in drought-resistant plants keeps the property cooler in the summer, and an on-site location for car-sharing company Zipcar Inc. cuts down on the need for parking. But from Schuster’s point of view, one of the best things about Mosler Lofts was the long line of people eager to buy units—and to tell their friends to buy them—before the building even delivered. Consumer demand—not legal mandates—will move our industry toward energy-efficient and sustainable construction. Builders should be able to choose from many voluntary options and systems to help them plan structures with green performance and certification in mind, among them the National Association of Home Builders’ Green Building Program, which will incorporate the NAHB-ICC National Green Building Standard (see “Creating a Standard” below). Written in language that builders use daily, that standard will help us create the condos and apartments our residents want. Steve Patterson is chair of the National Association of Home Builders’ multifamily leadership board and CEO of ZOM USA. Creating a Standard The American National Standards Institute, or ANSI, at press time was reviewing the new National Green Building Standard, a joint project of the International Code Council and the National Association of Home Builders. The document marks the first residential green building standard to follow the ANSI consensus process. Should it be approved, the standard will provide the highest level of credibility by virtue of the rigor, transparency and public involvement that ANSI requires. Such a voluntary standard would maintain the flexibility of green building practices while providing a common national benchmark for builders and developers of multi-family and single-family homes, as well as for remodelers. A balanced consensus committee of government officials, representatives of industry associations and industry and environmental professionals wrote and vetted the criteria. The committee members considered more than 3,000 comments on proposed drafts before casting final ballots on the proposal. The final draft reflects advancements in requirements in the International Residential Code and other changes that indicate the dynamic nature of green building. Once approved, the new standard would be one of many “American National Standards” to which the National Technology Transfer and Advancement Act, passed in 1996, refers. This law requires federal agencies to increase their reliance upon and participation in voluntary consensus standards and conformity-assessment systems. Many other green rating systems do not meet these benchmarks. 6 Commercial Property News The 2008 Multi-Family Greenbook

Table of Contents Feed for the Digital Edition of CPN 2008 GreenBook

CPN 2008 Greenbook Table of Contents Industry Update Green Update Giants Owners, Managers & Developers REITs Finance Firms Seniors Housing Providers Service Firms Software Providers Activity Index Alphabetical Master Listings

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