Home Builder Developer - Interior Renovation and Design

Environmentally sustainable real estate is on the rise

By Ely Razin, CEO, CrediFi | bio

Environmentally sustainable real estate is on the rise around the world, with consumer demand a primary driver in the U.S., even though perceived initial cost still constitutes a significant obstacle, according to a report on green-building trends. New data, however, shows the financing costs for some green office-property developments are notsignificantly greater than for non-green construction projects. Commercial brokers across the country that have clients looking to go green should learn about the new financial realities of green financing because its clear the trend is not limited to eco-hip coastal states.

The 2016 green-building trends report by construction industry data provider Dodge Data & Analytics, found that green building globally will more than double in the next three years, with many respondents forecasting that more than 60 percent of their projects will be green by 2018. In addition, the leading sector for green-building growth around the world is commercial construction, the report found.

More interesting to brokers who must find financing for these green construction projects is that the initial costs are not out of line with the costs of non-green construction. Consider these brief case studies that demonstrate the costs and benefits of environmentally friendly construction on office buildings in Illinois, Idaho and New York that went green.

Chicagos trendy River North neighborhood is home to an eight-story concrete loft office building that houses the Chicago offices of cloud-communications company Fuze and digital-media company RhythmOne. It was classified as a Class B building by the Environmental Protection Agencys Energy Star certification system.

The retrofit of this building transformed a 100-year-old steam boiler from an environmental challenge into an environmental asset with the installation of new igniters, tubes, heating elements and insulation. Other changes included improving the cooling towers efficiency and placing $80 modulating control valves on the tenants steam radiators as a cheap way to regulate room temperature and curb energy use.

The Environmental Defense Fund (EDF) described this project, which was financed by a $35 million loan in 2015, as one of the buildings driving energy efficiency in Chicago. It was part of the Retrofit Chicago project by the New York-based EDF and the city of Chicago to reduce commercial energy use in participating buildings by 20 percent over five years.

Another Chicago building that is part of the same initiative is a 50-story office tower that once was home to United Airlines. Retrofitting for this all-electric, Class A building was financed by a $150 million loan in 2013. It has been described by the EDF as one of Chicagos most energy-efficient buildings.

The retrofit of this building transformed a 100-year-old steam boiler from an environmental challenge into an environmental asset.

By instituting practices such as collecting and analyzing energy-use data and adjusting the building automation system to pre-cool the building in the summer and pre-heat it in the winter during off-peak hours, building management decreased electrical expenses 47 percent between 2009 and 2012, and the management team has committed to an additional energy reduction of 26.5 percent by 2018, according to the EDF.

The 11-story Banner Bank building in Boise, Idaho, was built on a former brownfield site in 2006 and became the states first multitenant office building to receive a Leadership in Energy and Environmental Design (LEED) platinum certification, the highest-level green-building certificate offered by the U.S. Green Building Council.

The 180,000-square-foot building uses 50 percent less energy and 65 percent less potable water than a conventionally constructed building of similar size, yet was built at the same cost and in the same amount of time as a comparable property, says Nebraska-based building architect HDR.

The Banner Bank building also features geothermal, hot-water heating, evaporative pre-coolers and under-floor air vents. Its water-filtration system captures stormwater from downtown Boise streets and parking lots and uses the rainwater and gray water from the building to flush toilets and urinals, according to the U.S. Green Building Council.

The Bank of America Tower development team sought to demonstrate that ecological principles and economic principles can be made compatible, according to the Massachusetts-based environmental nonprofit Green Education Foundation. To achieve this balance, the 55-story Manhattan skyscraper included green features that cost extra only if those features would pay for themselves through reduced operating costs within five years.

Built in 2009, the 2.35 million-square-foot skyscraper was financed by a $1.3 billion loan issued in 2010. The sloping exterior walls and floor-to-ceiling windows admit extra sunlight into the building, while a filtration system cleans the air before it enters the building and again before it goes back out. The sunlight and clean air actually offer a financial benefit as well as an environmental one, because studies have shown that employee health and productivity can be affected by indoor environmental quality.

Real estate professionals typically expect green construction costs to be higher than they actually are.

The slope of the building also makes it easier to capture rainwater, which is used for cooling and flushing toilets, and allows more light and air into the surrounding neighborhood, the foundation says. The rainwater-collection system and use of waterless urinals are estimated to save 100 million gallons of water per year.

The building also conserves energy by using an onsite power plant fueled by natural gas to provide 70 percent of its annual electrical power needs and all of the buildings hot water. Waste heat from the plant also powers chilling machines that cool the building. In addition, 83 percent of construction waste was recycled.

The 2016 Dodge Data & Analytics study mentioned earlier surveyed more than 1,000 respondents from 69 countries, who reported both environmental benefits such as reduction in energy and water consumption as well as financial benefits.

The financial element could become increasingly significant because federal and state government incentives for environmentally friendly measures are potentially at risk under the new presidential administration. Shortly after taking office, President Donald Trump placed a freeze on Environmental Protection Agency grants and contracts and ordered expedited environmental approvals to fast-track infrastructure efforts.

U.S. respondents to the survey say they expect a 21 percent reduction in operating costs for new green buildings over five years (somewhat less for retrofit or renovated buildings) and an 11 percent cost reduction over one year. Building owners globally report that green buildings provide a median 7 percent increase in asset value over traditional buildings, with about a quarter of respondents saying they expect the value to increase more than 10 percent.

A 2015 U.S. Department of Energy review of energy-efficiency studies that sampled thousands of buildings nationwide found higher rental and occupancy rates for LEED and Energy Star certified buildings, as well as higher sales prices and lower utility costs. Rental rates were found to be 15 percent to 17 percent higher for LEED-certified buildings and 7 percent to 9 percent higher for Energy Star-certified buildings, compared to similar properties that did not have a green-certification rating. In addition, sales prices rose 10 percent to 31 percent for LEED-certified properties and 6 percent to 10 percent for Energy Star-certified buildings, according to the review.

As for the initial costs, multiple surveys have found that real estate professionals typically expect green construction costs to be higher than they actually are. A 2010 study in the Journal of Sustainable Real Estate, for instance, analyzed a survey of 120 lenders, equity investors and developers, and found that a fifth of respondents thought the cost of constructing an environmentally sustainable building would be more than 10 percent higher than a comparable non-green building, and more than half thought it would be more than 5 percent more expensive.

Several analyses of actual construction costs of environmentally sustainable buildings, however, have found they can cost roughly the same to build as standard buildings or only slightly more (less than 2 percent of total costs). Other studies go a little higher, estimating up to 6 percent additional construction costs. The greening of the Bank of America building in the New York case study reportedly added only 5 percent to the cost, and that was for the highest LEED-certification level.

All told, multiple studies indicate there are a lot of potential bonuses to going green: higher rental and occupancy rates, higher sales prices, lower operating costs and healthier workers. Once commercial mortgage brokers realize that initial construction costs for sustainable buildings are often lower than expected, demand for environmentally friendly real estate is growing and ongoing cost savings are created through energy efficiency, they may just find that green is their color.

Ely Razin is CEO of CrediFi, a big-data platform serving the commercial real estate finance market. Reach Razin at ceo@credifi.com.

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Is Green Your Color? - Scotsman Guide News

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Charles Schwab (NYSE: SCHW) shows off 469,000-square-foot ... Austin Business Journal Charles Schwab Corp. showed off progress Thursday on its new Austin campus. With one building completely renovated and more structures under construction ... Charles Schwab celebrates opening of new North Austin campus ...Community Impact Newspaper all 4 news articles »

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By JIM MAURER STAFF WRITER

Sheriff Michael Heldman and Lt. Ryan Kidwell, jail administrator, updated the Hancock County commissioners Thursday on the recently-completed window replacement project at the county jail.

The project to replace glass and repair window frames began last fall, Kidwell said. The mild winter weather allowed work to continue during January and February.

The windows were original to the building, which was constructed in the 1980s, and had rusted from exposure to water over the years.

Some inmates were housed in Putnam and Wood County jails during the work, as cell blocks were emptied to maintain security during installation.

Heldman and Kidwell suggested an exterior inspection every three to five years to take care of any issues which may arise.

Heldman said a portion of the building gets direct sunlight, which dries out the frames, while a lack of sunlight on another portion allows moisture to build up on the frames.

Last July, the commissioners approved a $179,000 contract with Cornerstone Detention Products, Madison, Alabama. Last month, the commissioners approved an additional $52,758 to cover frame repairs.

Separately, the commissioners approved a resolution to allow soil testing at a Madison Township 68 property, Arlington, for repair/replacement of a home septic treatment system. The soil testing and project will be funded entirely with grant money received by the Blanchard River Watershed Partnership.

The commissioners also met in executive session for the stated purpose of discussing potential litigation. No action was taken.

Maurer: 419-427-8420 Send an E-mail to Jim Maurer

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Jail window project finished - The Courier

Fixing the glass screen on a cell phone is not the same as fixing a glass window on a property, yet different languages interpret things differently

Boca Raton, Florida (PRWEB) March 31, 2017

Express Glass & Board Up, Boca Ratons most popular sliding glass door repair service, is proud to announce a new bilingual blog post on the topic of glass repair, especially with respect to sliding glass doors. Glass repair can be interpreted in different ways depending on the language. Residents searching for emergency sliding glass door repair may need to understand the differences for a quicker response time.

Fixing the glass screen on a cell phone is not the same as fixing a glass window on a property, yet different languages interpret things differently, commented Yani Santos, general manager of Express Glass. We have many Spanish speakers in the Florida area and have received calls confusing the services. We thought a new blog post explaining the differences would be helpful.

To review the new blog post about differences in glass repair services please visit - http://www.expressglassfl.com/blog/glass-repair/boca-raton-iphones-no-boca-raton-glass-repair-si/. Clear distinctions between glass repair for cell phones or cars and glass repair for houses has been explained. For information about sliding glass door repair in Boca Raton and the surrounding Florida area, please go to http://www.expressglassfl.com/boca-raton-fl/.

Boca Raton Finds No Language Barrier for Sliding Glass Door Repair

Floridas multicultural and vibrant community can be used to seeing English to Spanish translations on signs around town. Signs in two languages can offer the English and Spanish version to help the larger population. If the language has not been deciphered correctly, a confusing message can be the result. Many funny language translation fails can be found online for amusement. It may not be amusing if a Boca Raton resident has a broken patio door and needs emergency sliding glass door repair service. If English is a second language, typing glass repair into an online search may bring up the wrong type of service. Wasting time trying to locate the best sliding glass door repair in Boca Raton could become frustrating.

Express Glass, a top-rated sliding glass door repair service in Boca Raton has released a new blog post. The new post translates what glass repair can mean and the confusion caused by a cultural barrier. Broken glass at a home or the office can be a danger and should be repaired quickly. Searching for glass repair online may not be enough. Several types of glass repair could be the result such as auto glass or cell phone screen replacement. Specific words such as sliding glass door repair or emergency home window replacement may help. Experts in auto glass or cell phone screen repair may not be the right choice for a shattered home window. Express Glass has helped Boca Raton clear up a language barrier to fixing a sliding glass door repair problem.

About Express Glass - Boca Raton

Express Glass and Board Up Service Inc. is a family owned and operated glass repair business with more than 20 years of experience. Their professional technicians and the large variety of inventory make Express Glass the top sliding glass door repair service. If customers are looking for Boca Raton glass repair, please reach out to the company for a free estimate. If customers need a 24/7 sliding glass door repair service in Boca Raton, technicians are standing by. The company specializes in glass door repair and window glass repair; technicians will handle any glass replacement situation efficiently. Home or business glass repair is the company's main priority.

Express Glass & Board Up http://www.expressglassfl.com/ Tel. 561-470-6002

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Boca Raton's Five-Star Rated Sliding Glass Door Repair Service, Express Glass Releases New Bilingual Post for Glass ... - PR Web (press release)

WACO, Texas, March 31, 2017 /PRNewswire/ -- Winter Storm Stella provided much of the U.S. with one more dose of frigid temperatures, and as homeowners continue to set furnaces on high, Aire Serv is sharing tips to protect homes from what many refer to as the silent killer - carbon monoxide.

The Centers for Disease Control and Prevention reports that more than 20,000 Americans visit the emergency room yearly for carbon monoxide (CO) poisoning. The gas is colorless and odorless, making it otherwise unnoticeable without a carbon monoxide detector. While high-level exposure can cause permanent damage or even death, even low concentrations can be harmful enough to a household's indoor air quality.

"Carbon monoxide can be produced from any system or appliance that burns fuel. While all home appliances are designed to vent properly to the exterior, cracks or blockages can cause leaks into the home," said Steve Truett, president of Aire Serv. "That's why Aire Serv stresses the importance of scheduling annual maintenance for all equipment including furnaces, water heaters and space heaters. Routine upkeep and other preventative measures, such as installing carbon monoxide detectors throughout the home, can help ensure the health and safety of the entire household."

Aire Serv recommends installing carbon monoxide detectors on or near the ceiling of every floor of the home, especially outside of bedrooms. Other considerations to keep in mind when placing detectors:

Aire Servoffers premium residential and commercial services for every type of heating and cooling system.Home services, which include heating and air conditioner repair, replacement and maintenance, are charged by the job and not by the hour. In addition, Aire Serv conveniently offers 24-hour emergency heating and air conditioning repair and service to its residential and commercial customers. For more information about Aire Serv and its HVAC services, please visitAireServ.com.

About Aire Serv:Established in 1992, Aire Serv is a global franchise organization providing installation, maintenance and repair of heating, ventilation, air conditioning and indoor air quality systems. Recognized by Entrepreneur magazine among its "Franchise 500," Aire Serv franchisees provide services to both residential and commercial customers from more than 180 locations worldwide. Aire Serv is part of Dwyer Group family of service franchises. For more information or to find the location nearest you, visit AireServ.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aire-serv-shares-tips-to-prevent-carbon-monoxide-poisoning-300432574.html

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100 years later, Texas is still a key market for J.C. Penney Dallas Business Journal ... like refining its Sephora partnership and opening new concepts, including rolling out appliances to additional stores and piloting home installation services like bathroom remodeling, home heating and cooling systems, quick-ship and installed ...

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100 years later, Texas is still a key market for J.C. Penney - Dallas Business Journal

The Office of Facility Planning and Control (FPC) is responsible for administration of the state's capital outlay budget process, which includes preparation of a preliminary state construction plan. The document outlines state and local projects for possible funding using a mixture of state general obligation bonds, revenue bonds, state and federal cash and often fees and self-generated funds. The proposed construction budget is contained in House Bill 2 which is introduced at regular legislative sessions. The proposed construction budget is sometimes altered during the legislative sessions by lawmakers before becoming law. FPC also administers the state and non-state projects that are ultimately funded, overseeing the contracts from planning through construction and project completion.

The Office of State Buildings, the State Land Office and Real Estate Leasing come under the auspices of Facility Planning. All work together in a collaborative effort to appropriately and efficiently manage the state's finances and fixed assets.

LaGov Vendor Self-Registration(Instructions)

Instructions to Designers Word Files

Construction Bid Advertisements and Results

Small Entrepreneurship Program (Hudson Initiative)

Small Entrepreneurship Program and Veteran-Owned and Service Connected Disabled Veteran-Owned (LaVet) Small Entrepreneurship Program

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Section 179D Federal Tax Deduction Program

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Construction Progress Report (ISIS Quarterly Report)

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DOA Facility Planning & Control

Ninety-three percent of the construction waste from UC Merceds building was diverted from landfills.

Ten years after receiving its first Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council (USGBC), the University of California(UC), Merced in Merced, California, has earned platinum certification for Classroom and Office Building 2 (COB2).

This marks the campus 17th LEED certification for new construction and its eighth platinum designation. From day one, we made a deliberate commitment to build to highest sustainable standards, Assistant Director of Sustainability Mark Maxwell says. With each new building, were proud to demonstrate that were keeping that promise.

COB2 opened last fall, providing much-needed classrooms, tutorial space, research labs and academic and administrative offices to support the campuss projected growth.

Some of COB2s sustainable features include:

Like many of the campuss other buildings, COB2 pulls chilled and hot water from the Central Plant, which contributes to its high energy efficiency.

Classroom and Office Building 1 is also expected to achieve the campuss second LEED Building Operations and Maintenance (LEED O+M) certification shortly. The Leo and Dottie Kolligian Library earned a gold certificate in Existing Buildings: Operations and Maintenance in 2015.

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University of California classroom and office building earns LEED ... - Construction & Demolition Recycling

Columbus Ledger-Enquirer

New Zealand to review building design standards after quake Columbus Ledger-Enquirer New Zealand's government said Friday, March 31, 2017, the partial collapse of a modern office building's interior floors during the earthquake November 2016 was unacceptable and could have killed people. Minister for Building and Construction Nick ... CentrePort warned of 'critical issue' in Statistics House in 2013 | Stuff ...The Dominion Post CentrePort warned of 'critical issue' in Statistics House in 2013Stuff.co.nz all 22 news articles »

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New Zealand to review building design standards after quake - Columbus Ledger-Enquirer

New Beltline loft office building leasing up, more deals in the works Atlanta Business Chronicle Dick's Sporting Goods is putting one of its key technology divisions at a new office building along the Atlanta Beltline. Dick's (NYSE: DKS) will lease a little more than 30,000 square feet at The Willoughby, a mid-rise project overlooking the Eastside ... and more »

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New Beltline loft office building leasing up, more deals in the works - Atlanta Business Chronicle