I like this short pithy post. Something to take into consideration is the fact that the cost of building a “green” building have come down greatly relative to the cost of building a standard building. As LEED certified buildings become commonplace in NYC, the technology and no-how to build such buildings become more readily available. Furthermore, the competition in the market has put downward pressure on the cost of materials. I’m a big proponent for green development (studying for my LEED AP certification) and believe that in the not-so-distant future reaching at least some standard of LEED certification will become a requirement.

I recently heard Russell Albanese of the Albanese Organization (developer of the Verdesian amongst other green buildings) speak. They developed the Solaire in Battery City Park which was one of America’s first environmentally advanced residential towers. They’re currently working on the Visionaire. Russell spoke about how he learned what worked and didn’t work from his prior development. This made his most recent development much easier. I think this is the case across the market. Although green buildings are no longer demanding premium rents, green development will no doubt continue to thrive.

http://www.astudentoftherealestategame.com/

http://www.twitter.com/joestampone1

I like this short pithy post. Something to take into consideration is the fact that the cost of building a “green” building have come down greatly relative to the cost of building a standard building. As LEED certified buildings become commonplace in NYC, the technology and no-how to build such buildings become more readily available. Furthermore, the competition in the market has put downward pressure on the cost of materials. I’m a big proponent for green development (studying for my LEED AP certification) and believe that in the not-so-distant future reaching at least some standard of LEED certification will become a requirement.

I recently heard Russell Albanese of the Albanese Organization (developer of the Verdesian amongst other green buildings) speak. They developed the Solaire in Battery City Park which was one of America’s first environmentally advanced residential towers. They’re currently working on the Visionaire. Russell spoke about how he learned what worked and didn’t work from his prior development. This made his most recent development much easier. I think this is the case across the market. Although green buildings are no longer demanding premium rents, green development will no doubt continue to thrive.

http://www.astudentoftherealestategame.com/

http://www.twitter.com/joestampone1

-rsh

-rsh