Spencer Schar: An Introduction to Sustainable Real Estate
Having recently relocated to Denver, Colorado, entrepreneur Spencer Schar takes a keen interest in how local development regulations and planning vary from his home state of Florida. This article will look at sustainable real estate, a field that marries financial prudence with environmental responsibility.
Green real estate is more than just an asset, with each sustainable property a testament to the balance between financial prosperity and ecological stewardship. Sustainable real estate offers tangible benefits for investors, building occupants and society at large, culminating in a world where buildings have a positive rather than a negative impact on the environment.
Sustainability is a fine balance of design, construction and operational practices that not only cater to human wellbeing but harmonize with the planet’s resources. In addition to excelling financially, green buildings also offer optimal environmental, social, and governance performance, with each structure standing as a testament to energy efficiency, human wellbeing, and reverence for biodiversity.
Crystalizing a commitment to fostering communities that thrive both economically and ecologically, sustainable buildings are the result of meticulous planning and execution, with sustainability front and center throughout. Sustainable property development involves incorporating eco-friendly design materials, technologies, and techniques throughout planning and development processes, culminating in sustainable communities that are energy and water efficient, providing eco-friendly environments for people to live and work in.
Both residential and commercial developers are prioritizing sustainability today, recognizing the ever-increasing need to embrace sustainable practices and reduce their carbon footprints. From the investor’s perspective, green real estate offers an array of benefits, many of which equate to improved investment results.
In virtually every industry today, sustainability is being hailed as the key to futureproofing businesses, and property development is no exception. Globally, consumption of natural resources is at an all-time high. In response, governments around the world are implementing strident measures geared towards reducing both emissions and consumption, putting in place legislation requiring new real estate developments to be self-sufficient and energy and water-efficient. Investors in turn are recognizing the need to prioritize investment options that are self-sustaining and eco-friendly to prevent potentially costly upgrades in the future.
From the perspective of building occupants, sustainable real estate offers several key advantages. In terms of workplaces, green building design offers improved job performance, productivity and overall wellbeing. Studies show that occupants of green-certified buildings benefit from improved cognitive function scores, fewer sick building symptoms, and better sleep quality than those working in less environmentally efficient buildings.
One significant benefit of sustainable buildings lies in their operational efficiency. By making optimal use of water and energy, green buildings enable businesses to drastically reduce their operational costs. Eco-friendly methods and materials incorporated in sustainable real estate development use less electricity, water, and other resources, making them not only an environmentally friendly choice but also offering enhanced cost efficiency.
Certified-green buildings generate less landfill waste and fewer greenhouse gases than non-green buildings. Raw materials used in their construction are eco-friendly, having been purchased from green suppliers that embrace production methods designed to limit overall carbon dioxide emissions. Sustainable materials used in the construction of green buildings can include not only renewable resources but also reused and recycled items. By sourcing construction materials locally, constructors lower associated transportation emissions. In addition, by utilizing durable materials, they also reduce long-term maintenance demands.
In many countries around the world today, water consumption is a significant concern. Eco-friendly developments focus on water efficiency, implementing innovative technologies such as rainwater capturing tanks, low flow plumbing fixtures, and water pressure reduction systems to reduce water use.
Green spaces such as gardens and parks improve air quality while simultaneously reducing noise. They also offer recreational opportunities for building occupants, as well as providing a conduit for rainwater management, reducing the risk of flooding in the local community. Designing around wildlife habitats rather than simply building over them enables developers to protect local biodiversity and preserve natural resources. For example, rather than filling in natural bodies of water, green developers can make them a focal feature, maintaining important wildlife habitats: a common practice in the development of golf courses.
The expansion and advancement of sustainable development reflects a collective acknowledgement of the construction industry’s critical role in safeguarding the planet for future generations. The commitment to sustainable practices and communities has become integral to not only ensuring the success of real estate ventures but also safeguarding the future of the construction industry as a whole.
