2023 Winter Issue - 62
units with lawned terraces sold for 12.4 percent more
than similar units without terraces, a premium of
$95,030 per unit.
" Anytime you can take a square foot of a development
project and get multiple functions, you
increase the value. It's a slam dunk for nature-based
solutions; green infrastructure is definitely the lowhanging
fruit, " says Pete Muñoz, a senior engineer
and practice lead at Biohabitats, a U.S. environmental
consultancy.
Such previously overlooked options can be found
underground as well, particularly in urban areas. Over
time, many cities have filled in or otherwise paved
over streams, creeks, and wetlands. Exposing that
water can reduce flooding, provide more space for
nature, and create a new focus for the landscape.
In the end, Juan Rovalo, senior ecologist and
nature-based solutions strategist at Jacobs, believes
that opportunities for biodiversity are everywhere,
even in the biggest cities. " [S]omething that nature
does perfectly well is to fill voids. Wherever there's a
ABN AMRO's Circl in
Amsterdam reuses
numerous materials
to reduce resource
extraction, and can
be recycled when the
building reaches the
end of its useful life.
space, nature will take it. Every single part and piece
in the core of the biggest city in the world has an
opportunity to recover some functionality and wildlife, "
he says.
That breadth of opportunity means that good biodiversity
planning is not all that different from traditional
development. What matters most is how well a
thoughtful design responds to a local need. " The best
strategies emerge from an intimate understanding
of place-what the place is, where it's nested, and
what's happening there. The ecological components
or attributes of a given place should be viewed as
assets, not constraints, " Rovalo adds. UL
BENNETT VOYLES is a Berlin-based business writer.
This article is drawn from Nature Positive and Net Zero: The Ecology
of Real Estate, a research paper on biodiversity and the real estate
industry by the ULI Greenprint Center for Building Performance and
the Jacobs Engineering Group. It is available at knowledge.uli.org.
60
URBAN LAND
FALL 2023
ABN AMRO
http://knowledge.uli.org
2023 Winter Issue
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