Page 156 - The Green Building Bottom Line The Real Cost of Sustainable Building

GREEN IS THE COLOR OF MONEY 135

10 TOTOTALS
4 4 5 6 7 8 9 10 ALS
538,800
548,925
471,300
21,300
21,300
21,300 21,300 471,300 538,800 548,925 550,444 550,672 2,766,640
550,444
550,672
2,766,640
790,000
79,000
79,000
79,000
79,000
79,000
79,000
79,000
79,000 79,000 79,000 79,000 79,000 79,000 79,000 790,000
3,300
3,300
3,300 3,300 3,300 3,300 3,300 3,300 3,300 33,000
3,300
3,300
3,300
3,300
33,000
3,300
1,222,971
0 0 2,1 16,500 1,176,475 1,222,971 1,261,446 1,303,442 7,080,834
1,303,442
2,116,500
1,176,475
1,261,446
7,080,834
20,000,000
20,000,000
20,000,000 20,000,000
2,670,100
30,670,474
21,936,413
103,600 103,600 2,670,100 1,797,575 1,854,196 1,894,189 21,936,413 30,670,474
1,797,575
103,600
1,854,196
103,600
1,894,189
(151,190)
(103,490) (110,605) (118,765) (128,125) (138,866) (151,190) (165,335) (1,386,037)
(1,386,037)
18,765)
(103,490)
10,605)
(138,866)
(165,335)
(128,125)
(82,016)
(154,117)
(175,625)
(135,413)
(82,016) (92,710) (105,007) (119,150) (135,413) (154,1 (175,625) (1,058,987)
(92,710)
19,150)
(1,058,987)
(105,007)
(43,580)
(32,285)
(355,862)
(29,456)
(39,278)
(26,997)
(24,858) (26,997) (29,456) (32,285) (35,538) (39,278) (43,580) (355,862)
(35,538)
(24,858)
(1,563,000)
(57,000)
(57,000) 0 0 0 0 0 0 (1,563,000)
(344,585)
(309,817)
(267,365)
(253,228)
(230,31
(384,541)
(4,363,886)
(279,560)
(267,365) (230,311) (253,228) (279,560) (309,817) (344,585) (384,541) (4,363,886)
(163,765)
(163,765) (126,711) 2,416,872 1,518,015 1,544,380 1,549,604 21,551,873
2,416,872
1,518,015
21,551,873
1,544,380
1,549,604
(126,71
1 1 1 1 0 0 0 0
8,309,180
1,364,261
(78,678)
1,853)
778,982
657,183
(111,853) (78,678) 1,364,261 778,982 720,464 657,183 8,309,180 0
720,464
As the saying goes, even in utopia there’s myopia. I have my wish list of things
I’d like to see change to make my job and those of my colleagues easier, to make this
sustainability movement we are a part of move faster toward mainstream acceptance.
There needs to be a change in how properties are appraised. Many real estate pro-
fessionals rely on independent appraisers to provide market values on properties. I
have yet to see any additional value for green being included in a formal appraisal
report. In fact, I have even seen some signs of skepticism when appraisers are asked
to value a green building. I gather it is our role to help educate appraisers as to the ben-
efits of green real estate. We need to share with them our metrics for future enhanced
operational savings and projected improved discounted cash flows, as well as the
potential productivity gains and other intangible benefits that need to be considered.
Once appraisers grasp the value of green, their independent validation of the value will
be crucial in reaffirming green by the numbers.
The financial sector needs a greater number of green projects to fund, in order to
create a green building backed mortgage securities market and pricing. This would
create a tiered market that would allow green assets to command a better price than
the current commercial-backed mortgage securities. It will take a few years to reach
such momentum.