Because there are financial considerations attached to every building project, Holly says that a green and sustainable building is also one that over the long term produces a cost savings for the developers or, in this case, condominium owners. “Taking this a step further,” he says, “these savings add value to the property, which would not likely exist in a non green, non-sustainably designed and constructed complex.”

Green body components

To get a clearer idea of what a green and sustainable building is, let’s put on our appraiser’s hats and see what characteristics and amenities can be added to a facility that not only make it green and sustainable but increase value as well. There are many elements to a green and sustainable building. The following items are just a few (also see sidebar, “What goes into a green and sustainable condominium?”).

Building site

Although this may not apply to an existing building, for new construction, as appraisers, we would want to make sure the planners of a green and sustainable condominium complex have taken into consideration site conditions such as the immediate area’s climate, natural surroundings and even noise.

Climate and natural surroundings such as trees, waterways, hills, slopes and wind-flow patterns can all have an impact on how much artificial heat the building needs in winter and how much air-conditioning is required in summer.

Further, noise is becoming recognized as a green issue. Noise levels above 85 decibels, which can be the result of nearby freeways, railways, airports and manufacturing centers, are considered dangerous to hearing and human health and could impact sales and pricing for condominiums.

Energy efficiency

HVAC systems, lighting and insulation all are considerations in determining the energy efficiency of a facility. The use of both active and passive solar power as well as natural ventilation can help reduce heating and cooling costs and energy demand and add value to the property.

An active solar power system involves solar panels that absorb heat, which is used to heat the building or supplement hot-water heaters. Passive solar heating is the result of selecting building materials and implementing building designs that help absorb the sun’s rays to heat and light the facility. For instance, installing windows on a southern exposure will help heat a facility and provide natural light in those rooms.

Natural building materials

A general principal of green, sustainable design is the use of building materials that are not potentially harmful to living things and the environment and are also derived from renewable, reusable or recycled resources. Further, selecting materials from local suppliers helps reduce the amount of energy required to transport items to the construction site; this is why many green-certification organizations include this as part of their criteria and guidelines for a product.

Water conservation

In the coming years, LEED (Leadership in Energy and Environmental Design) is expected to place a greater emphasis on water conservation. “And the reasons are simple,” says Klaus Reichardt, Founder and Managing Partner of Waterless Co. “Long term it is believed North America and many other parts of the world will experience more droughts and more serious droughts along with shrinking water levels. The problems will be amplified because of growing populations and dated infrastructure.

“The installation of water-efficient plumbing – low-flush toilets, efficient showers and sinks, and no-flush urinal systems – in common areas such as gyms can save significant amounts of water. In addition, because energy is needed to transport water, water conservation and energy conservation go hand in hand.”

Green cleaning

A green building must be cleaned and maintained using green cleaning products and systems. A few years ago, Harvard University published a study indicating that all of the health and environmental attributes of green floors can be lost the first time the floors are cleaned, scrubbed or polished using conventional floorcare products. Why is this significant? It is not uncommon for a facility to be designed, planned and constructed with a variety of green and sustainable features only to have conventional cleaning products used to maintain the facility.

“All the components that make a facility green should be viewed as the spokes in a wheel,” says Holly. “If one spoke is missing, such as green cleaning, the entire wheel may fall apart.”

Benefits of green buildings

While we still have our appraiser’s hats on, it’s time to look at the benefits –financial and otherwise – of building and operating a green and sustainable property. The advantages are threefold: direct economic benefits, personal or social benefits and environmental benefits and often referred to as the 3Ps, profits, people, planet.

Direct economic benefits  

According to author Brian Edwards, most green and sustainable buildings pay for themselves within the first eight to ten years of construction due to reduced operating costs. He says that the more complex the facility, the greater the return in terms of reduced operating costs if it has been built and is operated in a green and sustainable manner.

“Typically reductions in energy operating costs for a green building are as much as 40 per cent when compared to a conventional building,” he writes.

Social benefits  

“The personal or social benefits derived from green buildings typically refer to enhanced health and comfort for building occupants,” says Holly. “We know this is true in offices, factories, and schools, and it applies to condominium projects as well.”

Holly says that several studies now indicate that occupants of green buildings report better health, improved worker productivity and enhanced student test scores. One study reported by Edwards found that if employee performance improved just 1 per cent in a typical office setting as a result of Green and sustainable building and operating elements, it could pay for the entire annual energy cost for that facility.

Environmental benefits

The benefits of a green and sustainable building may be hard to quantify and difficult to post on a balance sheet, “but we know they are helping to reduce global warming, protect the ozone layer and preserve natural resources,” says Reichardt. “In many ways, the focus is on reducing consumption of water, energy, and other natural resources today, realizing these will have long-term environmental, sustainable and ecological benefits for years to come.”

As we have discussed, green and sustainable building, design and operation seek to minimize the immediate impact of construction on the environment while producing long-term health and environmental benefits. Many green elements typically last longer than improvements made using conventional products and materials, according to Edwards, and for condominium project developers, they lead to greater occupant satisfaction and project desirability as well.

“Right now when there is great concern about the economy, condominium developers need every arsenal they can gather on their side,” says Holly. “Building a green and sustainable property is one of the best weapons they can muster.”

What Goes into a Green and Sustainable Condominium?

Some of the components that make a condominium Green and sustainable include these:

• Structural insulated panels (SIPs), which provide high energy efficiency and a mold-resistant envelope and help lower installation costs
• A passive solar power system, which includes day lighting and natural ventilation
• Solar tubes providing ambient lighting in baths and kitchens to reduce daytime energy use
• Natural landscaping to reduce water use
• An organic vegetable garden and compost area
• Rain barrels to harvest roof runoff and reuse precious water resources
• No-maintenance exteriors
• Cool roofs or vegetative roofs
• Bamboo hardwood flooring in units and common areas
• No-VOC (volatile organic compound) paints used throughout the property
• Environmentally preferable products used for cleaning and maintenance

Robert Kravitz is a writer for the professional cleaning, building, hotel, healthcare and educational industries.  He may be reached at info@alturasolutions.com.