What Does It Mean to Move to Green Buildings?
Everyone these days is trying to find a better, more sustainable way to live. In the construction industry, timber has risen in popularity as a green resource. Could it also be a cheaper option overall?
“People don’t realize that the overall cost of the project can drop if you use the right materials,” says Parag Shinde, Group Energy and Sustainability Manager, Property NSW, during the Future of Sustainable Spaces panel. “More needs to be done on the construction and material side of the spectrum, rather than the operations.”
But what does this mean for the Austin metro area? Dive in to understand the benefits of green building.
See Our Guide: What to Expect in Commercial Real Estate for 2022
What Is a Green Building?
According to ReportLinker, green buildings have minimal or no negative impacts on the environment and climate. They enforce positive impacts by preserving natural resources and improving the quality of life of those around them. That’s right. This even means less dust and debris when it comes to constructing a new building.
There are two types of products involved with green buildings: interior and exterior.
Interior products are low-impact natural materials like natural clay plaster, natural fiber flooring, paperless drywall, and low VOC content paint and coatings that replace synthetic materials to the interior finishes of buildings.
Exterior products include roofing, insultation, framing, exterior siding, interior finishing, and other materials used in a commercial building setting.
See Our Guide: The Difference Between Commercial and Residential Appraisials
Why Are We Moving to Commercial Green Buildings?
According to USGBC, green buildings can reduce carbon emission by 34% and consume 25% less energy than the conventional buildings. Not only is that better for the environment, but better for the owner’s wallet.
Buildings account for 40% of all greenhouse gas emissions (GHGs), according to Architecture 2030.
By building green, the industry reduces the impact these buildings have on contributing to climate change. Green buildings are also stronger structures.
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What Does Green Building look like in Austin?
Austin loves being green. From the plastic bag ban to mindful eating, it is no wonder the City of Austin would push towards a green building initiative.
The City of Austin adopted the Climate Protection Resolution in 2007 and the Community Climate Resolution in 2014, which established the goal of net-zero, community-wide greenhouse gas emissions by 2050.
Just a few years later, greener homes in Austin were worth an extra $25,000 than conventional homes. While there is no data on current projects, by 2050, green homes will have the highest value in the Austin metro area.
From both commercial and residential projects, Austin Energy offers data on all green projects in the area along with a star-rating to highlight their efficiency. View this map below:
Better Valuation, Better ROI
Titan Valuation offers a high-quality, modern appraisal process that uses a team-based approach to get your data fast. Whether you’re thinking of investing in a green building project or wanting to assess the value of your property assets, trust Titan with all your appraisal needs.
