Two years post crash and builders are re-discovering the cost efficiencies of building to green, or specifically USGBC’s LEED standards. Suddenly, it seems, every new building project - the relatively few there are - proudly proclaims intentions to design to LEED Gold or higher standards. New leases as well, at least those that entail build outs, also take pains to point to their adherence to LEED. Increasingly, though, I am also noticing builders venture out into new areas of green that don’t come with the bona fides of USGBC’s green stamp of approval. In Oahu, Hawaii, for instance, Pearlridge Center is mulling over whether it will install photovoltaic solar panels. Energy savings are a driver, but the main point of the project is to provide shade to the roughly 3,000 uncovered parking spaces as the immense mall, according to the Honolulu Star-Advertiser. (Pearlridge, as an aside, was purchased in a JV between Glimcher Realty Trust and an affiliate of Blackstone Real Estate Advisors for $245 million last year.)
Here in Washington, DC, the Tower Companies just installed four Electric Vehicle Charging stations in the parking areas of 1909 K Street, 1707 L Street and 1828 L streets. Then there is the BOMA conference, scheduled to start this weekend in nearby Prince George’s County. I will be attending and the pitches to meet with such-and-such company have been coming fast and furious.
A common theme, though - and one I don’t remember from last year - are the environment products and services of vendors, not to mention the efforts by landlords. A case in point isToshiba, which has just installed LED lighting lamps in the Freer and Sackler galleries.
Toshiba abandoned production of incandescent lamps in March 2010, its spokeswoman tells me - the first major lighting manufacturer to proactively discontinue the production of incandescent lamps. I am interested to hear the company’s plans to “make LED technology the future of lighting,” which while not as sexy as covered parking lots is still doing its part to promote sustainability.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
