Page 184 - The Green Building Bottom Line The Real Cost of Sustainable Building

162 CHAPTER 5

ears
Years 0 1 2 3
VINGS
REVENUES/SAVINGS
REVENUES/SA
Cash
Cash Flow after debt service 281,800 281,800 281,800
281,800
Flow
281,800
281,800
service
after
debt
Sale of Aber corn in year 10
Sale of Abercorn in year 10
Total Revenuesotal Revenues 0 281,800 281,800 281,800
281,800
281,800
281,800
EXPENSES
EXPENSES
Equity Contribution (1,000,000)
(1,000,000)
Contribution
Equity
Payoff
Principal Payoff
Principal
(1,000,000)
Total Expensesotal Expenses (1,000,000) 0 0 0
Total Cashflowotal Cashflow (1,000,000) 281,800 281,800 281,800
281,800
281,800
(1,000,000)
281,800
1.000
Discount Factor 1.000 0.909 0.826 0.751
0.909
0.826
Discount Factor
0.751
PV
232,893
(1,000,000)
256,182
PV CashflowCashflow (1,000,000) 256,182 232,893 21 1,721
211,721
NPV 3,897,400
NPV
3,897,400
39.02%
IRR
IRR 39.02%
Figure 5.8 Analysis of Abercorn Common with sale Year 10.
Concluding Remarks
In general, our approach to design and construction is different from that of most
developers. We feel there are right and wrong ways to pursue development. It’s our
policy to use sustainable designs and practices, and we encourage neighborhood in-
volvement. Throughout the design and construction process, we believed we were
building something that would be here for a long while, something that would be en-
joyed by many. As such, we wanted Abercorn Common not only to have a look of per-
manence and quality, but also to perform well from an energy and natural resource
perspective and be a meeting place where people could come, shop, sit, and stay a while.
We’ve had great local response to the work we’ve done at Abercorn Common. The
care and quality we’ve put into the project have set a new standard and raised the bar,
and we’re proud of that. We know we’re making a difference in our community when
we get comments like these from fourth-grade science students who visited Abercorn
Common on a school field trip.
My field trip to Abercorn Common was great. I learned they use rainwater
in their fountain instead of real water. Also they hold water in the back in
cisterns. —Caroline
This shopping center is certified by Leadership in Energy and Environmen-
tal Design (LEED). You learn so many things at the Abercorn Common. It
shows you how much the earth needs your help. —Bailey