In the same way sustainability affected other industries, it also affects commercial building and construction. Increased ecological awareness caused newspapers to become redundant, and at the same time developed world is finally getting rid of plastic bags. Following these trends in few decades, commercial buildings and houses with bad insulation will probably disappear and we will see a huge drop in energy waste.
Since this building trend is currently catching its momentum, entrepreneurs and investors have a unique chance to get their share of this business and create huge profits in the years to come. In this article we are going to talk about only one part of sustainable construction. We are interested in commercial buildings, which is why we will analyze the role green commercial buildings and their construction will have in future corporate development.
What makes buildings ‘green’?
General rule for all green buildings is that they decrease environmental impact of building, housing and commercial activities that are going on within them. Green buildings…
- Are energy efficient and use renewable energy sources – most green buildings have thick insulation, in its walls, high-performance windows, they don’t have air pockets and use plenty of solar panels;
- Are water efficient – commercial green buildings use advance water conservation techniques.
- Are built from environmentally preferable building materials;
- Have better air quality – most green buildings use energy-saving commercial air conditioners;
- Reduce all types of waste – green buildings reduce waste of energy, production and construction materials and water.
Green commercial buildings also protect employees’ health and improve their productivity and reduce production and all other types of waste to a minimum. This drastically cuts tenant’s spending and most companies that are working from green buildings are satisfied with their premises.
Effects on real estate market
In a brilliant article about Brilliant Economics of Green Buildings, published in Forbes, the author William Pentland, who is a regular contributor to this magazine, described how recent popularity of green buildings influences Manhattan’s commercial real estate market.
Commercial buildings in United States are classified under categories that range from A to C, with Class A being the most prestigious one and Class C covering commercial buildings with rent prices below local average. Since today’s entrepreneurs are fully aware of huge energy waste and financial benefits that sustainability brings, Manhattan’s real estate market added another criteria to the commercial building classification. Class A building needs to be sustainable. By the looks of it, these trends will become even more popular in the future, and the time when these rules enter official state or even federal legislature are not far. Especially because successful tech corporations are leading, when it comes to green building trends, and we all know that these types of companies represent role models for thousands of new startups from around the world.
What about construction market?
Green buildings have huge impact on construction industry. Since commercial building classification is constantly changing and becoming more sustainable, as we can see in the case of Manhattan, contractors and project bureaus will need to optimize their services in order to satisfy high demand of sustainable properties.
Result of increasing corporate interest in green buildings is the development of standards, codes and ratings that affect new commercial structures and are also approved by government bodies throughout the world. Construction companies, project bureaus and investors also need to follow these codes (LEED is green building rating system) and to model their work in accordance to them.
Soon green commercial buildings will prevail. This will drastically increase economic efficiency of corporate world, which has become notorious for the amount of waste it produces. Future companies will make much smaller carbon mark and their employees will be more satisfied, healthy and productive.