"I would love to sit up here and tell you we understand thegreen initiative and have it all figured out," said PaulHutchinson, president of Lane Realty Construction LLC. "But wedon't know the answers yet."

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LEED certification was initially directed at other sectors,mainly office, and the movement has only just started getting legsin multihousing. "It's only recently [the industry] has been tryingto get certification to the multihousing sector," he added. "It isstill so new."

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So without official certification guidelines to follow, LaneRealty Construction focuses on providing green features, heexplained. For example, its properties recycle all waste materials,which he said is just practical, and use energy starappliances.

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Greg Lamb, executive vice president and regional managingpartner at JPI, explained that going green is only a matter of timein the industry. "We're going to be required to be productcertified within the next five years." He added that in somemarkets, like the Washington, DC and Virginia there is a stronglegislative push for multihousing developers to developgreen-certified properties.

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"We think in the long term we are going to be required to do it,so why not get in early," Lamb said. JPI is currently looking atgoing green with two properties--one in Virginia and one inDowntown DC. In the long run, he explained, with proper marketingof green technology we will be able to charge premium rates, addingthat a green property will be a resident draw. "We think it will bea reason why people select this product."

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Lamb also found that many institutional investors are lookingtoward green properties for investment opportunities. "Why notlearn early," he asked.

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