Page 154 - The Green Building Bottom Line The Real Cost of Sustainable Building

GREEN IS THE COLOR OF MONEY 133

What would be the return for Green, Inc., should it be sold in year ten? What, in
short, is the real return on being a sustainable real estate company? Figure 4.4 pro-
vides a provisional answer.
As Figure 4.4 shows, the management team of Green, Inc. are looking at a 45 per-
cent return on their various investments in green stuff: values, culture, internal envi-
ronmental audits, and expertise at green development. The projected goodwill of $20
million ten years from now equates to just over $10 million today, or roughly 40 per-
cent of the hard asset value of the company.
The point of this exercise is not so much to derive an ultimate sales price for Green,
Inc. but rather to emphasize the considerable intangible value embedded in a values-
centric business. There’s an additional intangible value that needs to be considered,
one that perhaps may enhance further the overall goodwill of the company. I like to
think of this intangible value as a company’s “X” factor.
Speaking personally, I have worked throughout the world and have never seen
anything like this. This may sound presumptuous. However, I have lived on three
continents and worked in over seventy countries at some of the world’s largest com-
panies, and there is something going on here that I have not seen or felt elsewhere.
When I moved to Savannah in 2005, I thought I would be moving to a quaint his-
toric town that would allow for a perfect work/life balance. The coast, with all it has
to offer, the small-town atmosphere, even the allure of a few golf courses, were all
aspects that I looked forward to enjoying upon arrival. Working for Melaver, Inc., a
quirky family-owned real estate company, was also something I was going to enjoy in
a relaxed way. Were all my expectations met? Yes, Savannah is charming. Yes, the cli-
mate, lifestyle, people I have meet are very rewarding. But what has far exceeded my
expectations is the quality and passion of my colleagues.
To begin with I simply thought this was a good bunch, experienced and commit-
ted to working hard. But then, don’t all companies say they have the best employ-
ees around? As time went by I realized there was something else, that “X” factor.
There was a glue that kept us together, but it is more than a glue. It’s something that
enables everybody to do more, perform better, take the extra step, and act as a team.
People filled in the gaps and picked up loose ends, should colleagues be tied up with

25
18
21
22
19
20
24
23
17 18 19 20 21 22 23 24 25
17
10
7 8 9 10 11 12 12 13 13 14 14 15 15
4,187,152
2,753,121
6,368,135
3,166,089
3,641,002
4,815,225
2,394,018
2,081,755
2,081,755 2,394,018 2,753,121 3,166,089 3,641,002 4,187,152 4,815,225 5,537,509 6,368,135
5,537,509
922,918
697,859
527,681
606,834
802,538
1,061,356
346,959
458,853
399,003
346,959 399,003 458,853 527,681 606,834 697,859 802,538 922,918 1,061,356
2,793,021
2,428,714 2,793,021 3,211,974 3,693,770 4,247,836 4,885,01 5,617,763 6,460,427 7,429,491
4,885,011
7,429,491
6,460,427
2,428,714
5,617,763
3,21
1,974
4,247,836
3,693,770
0.239
0.513 0.467 0.424 0.386 0.350 0.319 0.290 0.263 0.239
0.290
0.263
0.424
0.386
0.350
0.319
0.467
0.513
1,362,191
1,778,561
1,424,108
1,556,515
1,246,314 1,302,965 1,362,191 1,424,108 1,488,840 1,556,515 1,627,266 1,701,232 1,778,561
1,701,232
1,488,840
1,302,965
1,246,314
1,627,266