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What is the perception of 'Green Technology' within the real estate community?
Proponents say that environmental impact is a key driver for modern real estate development. Others say that 'green' is viewed as expensive fluffery without any real bottom-line value. I'm curious to hear the opinion of property owners and managers within the Focus community.
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Brian, If you are constructing a property to occupy yourself for a long period of time (20+ yrs), then from a numbers standpoint you can justify the added cost. It can be noted that 30% of your cost of a building over such a hold period is in its operation, not its cost to build. On the other hand, if you are constructing a for-market building (in most cases the operating costs are passed to the tenants), my opinion building green it is essentially a marketing cost. The third reason is of course, to lessen your footprint, however unless there is a measurable benefit to the bottom line or corporate image, most will not look solely to this selfless rationale.
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