Credit Market Condition Not Likely To Affect Plans To Build Green Buildings in San Diego, Say Majority of Real Estate Professionals Surveyed By Calm Waters Construction Company.
Three major trends are sustaining green building demanding and pushing energy efficient remodeling to the forefront of the construction industry’s consciousness: 1) an unprecedented level of government initiatives; 2) heightened residential demand for green construction; and 3) improvements in sustainable materials.
Government Initiatives
As the largest owner and operator of buildings, the U.S. government has the ability to exert tremendous influence over the construction industry and to put in place policies, rules and regulations designed to drive private sector investment in construction toward a predetermined end. In the first five months of 2007, more than 100 green building bills were introduced at the state level. Many states have adopted sustainability requirements for all of their new government-funded construction projects. Governments have also implemented economic incentives in the form of tax rebates and credits, density bonuses and other policies such as expedited permitting and approval for green projects. For a detailed list of tax incentives for going green visit: http://www.buildcwc.com/construction/energyefficiencyconstruction/
Residential Demand
The heightened level of interest in sustainability within the residential construction sector has contributed to green construction’s movement into the mainstream. While demand for traditional residential construction is slowing down, the green housing and materials markets are expanding. Homeowners are increasing their investment in sustainable housing due to improved economic paybacks resulting from high energy prices and their growing sensitivity to environmental concerns.
Green Materials
Green materials and building products are becoming more popular due to the upward trend in the green construction market. Consumers are becoming more knowledgeable about their health and the environment and are now questioning the volatile organic compounds (VOCs) in their carpet, paint and wood. They are making a conscious effort to identify what building materials are healthier, more energy efficient and economically sensible. As the demand grows for green products and materials, the cost is mitigated. Today, many manufacturers are making green products, which leads to more competition and better pricing. In addition, distribution outlets for green materials are improving.
Calm Waters Construction’s green building market research respondents cited lower energy costs in green buildings; overall operating cost savings; and “green” creates higher building values.
Despite concerns about the availability of credit, 75% of the real estate executives surveyed said they would not be less likely to construct “green” buildings. Green buildings are designed to be more efficient in their use of energy, water and other resources and to create better environments for occupants.
Calm Waters Construction’s Green Building Market survey found that San Diego real estate executives viewed green buildings as having lower energy, operating and lifecycle costs, higher building values, asking rents and occupancy rates.
Respondents also noted that green buildings can generate greater investment returns. Despite the current economic environment and some perceived obstacles to green building, the benefits remain significant. As such, Calm Waters Construction anticipates continued interest in green buildings, benefiting building owners and occupants.
“We are very encouraged to see that real estate professionals continue to recognize the value of building green,” commented Brad Bowes, President and Chief Sustainability Officer at Calm Waters Construction. “While companies across all industries have launched green initiatives, construction is central to any discussion of sustainability.”
“Given the demonstrated environmental and economic advantages of green buildings, we are seeing a continued increase in green construction across all market sectors. Calm Waters Construction San Diego is prepared to meet this demand and drive the continued growth in green buildings through increased awareness of their overall benefits,” added Bowes.
About Calm Waters Construction San Diego
Calm Waters Construction (“CWC”) is a licensed California Contractor, certified San Diego Steel Building Contractor and Energy Efficiency Consultant. CWC specializes in green buildings, custom homes, energy efficiency remodeling and home additions throughout San Diego County. For additional information please visit: http://www.buildcwc.com
Contact Information
Calm Waters Construction, LLC.
Brad Bowes, President
Phone: 858-752-1712
Email: info@buildcwc.com
Web: http://www.buildcwc.com