GREEN IS GOLD
Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!
|Green finance was a hot topic at last week’s BuildingsNY & GreenBuildingsNY trade show, where EcoTech International’s Rob Watson opened a panel discussion on the “gold at the end of the rainbow.” Why is green finance such a big deal? Some stats to chew on: 25% of the new construction market—that’s 8B SF—is being built green, he says. When pursuing LEED, developers are shooting forGold (36%) and Silver (33%), and opportunities in green building have grown from $10B in ‘05 to an expected $1 trillion in ‘15. If you’re not going green, you’ll no longer be able to call it a Class-A building, he warns: 85% of San Francisco’s Class-A buildings are green, and in NYC, 80%.|
|Joining Rob: Interior Design Solutions’ Susan Aiello, Green Estate’sKristen Bacorn, New York Grant Co’s Ann Kayman, and NYSERDA’s Harris Schear. Susan says skepticism, uncertainty, competition, and risk avoidance are preventing the adoption of green, but major names are embracing it for the long-term: families like the Dursts, Rudins, Roses, and Malkins; developers likeRelated; REITS like Vornado; and brokerages like CBRE, JLL, andGrubb & Ellis. Ann and Harris discussed the incentives available for green building, and Ann pointed out that there are currently 67 programs to help New Yorkers in greening and energy efficiency of both residential and commercial buildings.|