Green Building | January 16, 2007 |
Green Building: Carrot or Stick?
In Washington D.C., the Council has proposed legislation that would apply to all commercial development of greater than 50,000 square feet. While this is admirable, it may scare off developers in some of the poorer neighborhoods who may not want to invest the higher upfront costs for environmental technology in places where rents are lower.
Seattle, on the other hand, appears to be focusing more on incentives (via Sustainablog instead of regulations, and I'm more in favor of that approach.
While there should be minimum building codes that upgrade the current requirements for water recycling, insulation, and energy efficiency, aiming too high can curb investment. Providing strong tax incentives -- faster depreciation, tax credits for installing windows or walls that keep in the heat -- and using the government's buying power (only renting in LEED buildings) is a more market-friendly approach.
In Chicago, Baum Development is planning an uber green office building that will cater to sustainable businesses. The Green Exchange is a four-story 250,000 square foot building that will include "an organic restaurant, an alternative automobile showroom, a sustainable furniture store, a green building supply company, an eco-friendly printer, an environmentally-friendly clothing company, a car sharing service, a bike shop and more."
Wow, an eco-services building in downtown Chicago! Hopefully they will find enough tenants so that people can browse a number of stores to see the many aspects of incorporating sustainability.


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