Green Building Law, a blog by Shari Shapiro an associate with Obermayer Rebmann Maxwell and Hippel, LLP out of Philadelphia, posted
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The post ‘Green Houses Will Reap Sales in New Market’ posted on Green Building Elements, was written by Dawn Killough the owner of Tree Hugger Consulting in Salem, OR. Dawn speculates that ‘green’ houses will sell better in the new real estate market. She references Paul Cardis
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‘Land Use Regulation Necessary For Green’
Comment:
First off I would like to thank you for increasing the awareness about the environment through your blog. I only recently stumbled upon your blog, ‘Green Building Law,’ and already I have found myself frequenting your blog quite often.
In regards to Portland, OR and its continuing excellence in the realm of sustainable development, I was wondering if you had any thoughts or experience about the role of local governments in cities across America and their responsibility/ability to demand a higher level of sustainable development. The way that I see it, from the developers point of view, is that money talks and in order to keep a development business afloat you have get projects approved and make money. The fact of the matter is that you could have a great ‘green’ development plan, but when you sit down in front of your investors, they’re going to want to maximize profits and mitigate risk.
The problems I see arising in California are that there are many well intentioned developers that talk about building LEED certified buildings, or toss around the ideas of creating a more walk-able, mixed-use communities but when it comes down to the bottom line many developers wont spend the extra cash or are not willing to take a risk on an unproven ‘trendy’ style of community. This is where I see local government bodies, such as the City Planning Commission the Board of Architectural Review, being key players in progressing our society towards more sustainable living.
I have seen first hand how a City Planning Commission can stop a project dead in the water because of potential ‘misfortunes’ that may burden the surrounding community (i.e. not enough parking spaces). Portland, OR seems to have figured it out, most likely through having a well-educated and active community that participates in local government. Unfortunately the majority of the cities across the nation do not follow the model of Portland, and until we figure out a solution, the majority of City Planning Commissions will continue to be saturated with arguments over rooflines and style of architecture.
In the upcoming weeks I hope to continue to explore ideas about creating a sustainable developments through my blog The Green Solution.
‘Green Houses Will Reap Sales in New Market’
Comment:
I appreciate the fact that you have brought this topic up in your blog as it is a very interesting phenomenon that we will be dealing throughout the upcoming years.
I was once asked the question: What is better for the environment? A man living in a house with no environmental footprint, 100 miles away from his work to which he commutes everyday, or a man living in a house with a huge environmental footprint who walks to work everyday?
Sustainable developments and houses equipped with green, energy saving technologies are wonderful for the environment. Incorporating these technologies into our everyday lives…still a work in progress
I, being on the development side of things, see a whole new frontier to be explored in the years to come; with advancements in green technologies such as solar power along with the excitement surrounding sustainable ‘green’ living, the possibilities are endless. However, I am not 100% convinced the ‘new’ market will be good for the ‘green’ houses. Assuming that this ‘new’ housing market will come of age during or after the current economic crisis, we can expect that lenders are going to require a much higher percentage down when purchasing a house. In most cases many ‘green’ houses are more expensive initially for a potential homeowner to purchase, and even though they receive economic benefits down the line, the amount of cash upfront will probably scare away many potential buyers. Given these assumptions, coupled with advancements in green technologies that will only continue to make ‘going green’ more affordable for the masses, I believe it is not a good time to invest the ‘green’ houses. What I believe will ‘reap’ the benefits of the ‘new’ housing market are the developments that infuse the New Urbanism and S.M.A.R.T. growth ideas to create a more sustainable living environment.
As the United State of America starts to move away from its dependence on foreign oil and towards a more responsible lifestyle, we can expect to see a migration to more densely packed mix-use areas centered around public transportation.
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