WHY GO GREEN?

Mandate Compliance - New York City’s Greener, Greater Buildings Plan legislation requires buildings larger than 50,000 square feet to benchmark baseline energy consumption, audit and retro-commission once per decade, upgrade lighting, and install sub-meters in tenant spaces larger than 10,000 square feet. As well, all building alterations within NYC must now comply with the Energy Conservation Code. Similar efficiency legislation is under consideration in other municipalities and states, and in the federal government.

Cost Savings - Given the current economic climate, landlords, tenants and owner-occupants alike are seeking ways to reduce operating costs.  However, the measures needed to achieve operating savings are highly specific to each situation.  Efficiency improvements should therefore be selected and phased to maximize returns given not only building system conditions, but also lease structures and budget and timeframe parameters.

Marketing Cachet - There is growing evidence that energy efficient buildings are more successful at attracting and retaining tenants.  This will likely translate into a rent premium as the market rebounds.  In competitive markets, rents may vary by as much as 50% for the same product type and class, indicating the potential impact of distinguishing amenities.

Increased Productivity - High-performing buildings mean not only more efficient systems, but happier and healthier staff.  Green buildings are correlated with higher productivity, less sick time, and longer staff retention, all of which increase net operating income.