GreenRenterGlobeSt.com

|

GlobeSt.com: From a commercial property perspective,how would you assess the importance of being green? Is it asignificant factor for prospective tenants?
Neild: In the commercial sector, greenbuilding will become the new standard. Owners and developers whodon't develop expertise in green building will be left behind. Infact, they already are. According to the 2007 Green Building Surveyfrom National Real Estate Investor and Retail Traffic, 84%of corporate users and 74% of developers surveyed expect to own,lease or manage green properties by 2012. New commercial buildingpermits with LEED registration continue to climb at a staggeringrate. Every business day, developers and owners register more than$100 million worth of commercial construction for certification.The USGBC estimates 10% of the new construction market is followingtheir guidelines. As of May 2008, the organization had 15,000member companies. Green remodeling of commercial property is on therise as well. Hundreds of property owners in Portland alone havetaken advantage of tax credits and cash incentives available forenergy efficient green remodeling.

|

Tenants are already thinking green as well, and corporatetenants in particular have indicated their willingness to pay apremium to lease space in a LEED building. Almost all of thecorporate respondents surveyed for the 2007 Green Building Surveysaid they'd pay more for green space. Nearly 1 in 4 respondentssaid they'd pay up to 9% more, slightly over one in four would pay3% to 4% more. And 39% would pay a 1% to 2% premium.

|

GlobeSt.com: What criteria are you using forincluding a commercial building on the site? Do you expect tomodify that at all in the near future?
Neild: GreenRenter takes an inclusiveapproach to "greenness." We recognize the difference between aLEED-certified building and one that has only implemented a fewgreen measures. However, we want to encourage owners and developersto improve the sustainability of their buildings by demonstratingthe increased demand that results from such investment. So, anybuilding that has completed at least one green measure can belisted on the site. Our survey--the intake form building ownerscomplete in order to list the building on the site--includes almost100 possible measures in seven categories: energy, water, buildingmaterials, operations, building surroundings, certifications andawards and "other innovative green features." The last is a textbox that allows owners to describe new and innovative greenfeatures they've implemented that don't appear elsewhere on ourform.

|

New green building technologies are coming to market at anincredibly fast pace. We account for this in two ways. The "otherinnovative green features" section allows property owners toelaborate on aspects of their project that are not yet standardpractice and are thus not included in the survey. We also plan torelease regular updates to the survey in order to keep pace withthe market. In doing so, we'll be guided by our users. Once a greenfeature begins appearing regularly in the "other" category, we'lladd it to the survey.

|

GlobeSt.com: What are your short and long-termexpansion plans for the site?
Neild: In the next two months, we'll makesome major changes. We will launch a new rating system calledGreenScore, which will allow users to differentiate properties withnumerous green features from those with just a few. We want tocontinue to be inclusive by allowing all owners to showcase theirefforts, whether they're LEED-certified or just starting toimplement green measures. But we also need to help usersdistinguish among the different "shades of green." GreenScore willdo that. In the longer term, we will continue to add features toserve building owners and renters. This may include enhancing thesocial networking features and resources.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.