Report: Green Building Up
Yesterday, I wrote about the decision of one development group to LEED-certify their new project, the CityMarket at O in Shaw, future home to hundreds of housing units, retail, and a 71,000 square-foot Giant. For some reason, the piece—which I've been working on for quite some time—has coincided with a relative tidal wave of sustainable design news from this story about upgrading the LEED system yesterday, to this new Washington Business Journal piece about the explosion in green building in the last few years.
According to the Green Outlook 2009: Trends Driving Change report, starts were up from $10 billion in 2005 to $36 to $49 billion this year and could triple by 2013, reaching $96 to $140 billion.
Here's why developers are changing:
|32% of owners expect decreases in operating costs to be more than 15%|
|18% of owners expect increases in building values to be over 15%|
|13% think that increased ROI will be over 15%|
|38% think occupancy will increase by more than 5%|
|31% think rents will rise by more than 5%|
|Source: McGraw-Hill Construction