Some Predict that Green is the New Black
According to experts in the property industry, green will become the new black in 2007. According to the CoStar Green Report, green building — once dismissed by major developers as "too expensive" will become almost a necessity as tenants, lenders, residents, and even investors push for sustainability. But green wont stop at building, experts predict that it will expand into operating principles.
As mentioned in the report, if building owners aren’t at least meeting Leadership in Energy and Environmental Design (LEED) standards, there are risks that the project might not succeed. San Francisco, New York, and Chicago are fostering green building, fast-tracking developments that meet green standards; even smaller cities such as Buffalo, NY, are looking at ways to encourage this trend.
Click here to read more statistics about green building, as well as specific examples of green building practices from large corporations and various cities across the country.
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