Green-Building Plans Not Affected by Credit Market

Jan. 9, 2009
Despite concerns about credit availability, 75 percent of commercial real estate executives surveyed by New York City-based Turner Construction Co. for its 2008 Green Building Market Barometer say they would not be any less likely to construct green buildings.

Green buildings are designed to be more efficient in their use of energy, water, and other resources. They also create better environments for occupants. The survey, which includes responses from 754 commercial real estate executives, found that green buildings are viewed as having lower energy, operating, and life-cycle costs, as well as higher building values, asking rents, and occupancy rates. Respondents also noted that green buildings can generate greater investment returns.

Despite the current economy, and some perceived obstacles to green building, the benefits remain significant. "We are very encouraged to see that real estate professionals continue to recognize the value of building green," says Michael Deane, vice president and chief sustainability officer at Turner. "While companies across all industries have launched green initiatives, construction is central to any discussion of sustainability. Given the demonstrated environmental and economic advantages of green buildings, we are seeing a continued increase in green construction across all market sectors."

According to the survey, 84 percent of executives said that energy costs were lower in green buildings; 68 percent said that overall operating costs were lower. Green buildings create an attractive cost/benefit ratio, according to those surveyed, and are considered less expensive than non-green buildings for several key measures of cost. In addition to a reduction in energy costs, improved health and well-being of occupants, increased building value, and higher asking rents were most often cited as benefits of green buildings.

For more information on the survey, go to

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