EQUITY GREEN

The Green Building In Macintosh Village (England)

For some reason, I love this picture...I think its because of the wind turbine on top.  Some people install one CFL in their house and call it good...these guys add a little wind mill on top!  The Green Building is a mixed use development that was designed by Terry Farrell Architects who had their work cut out for them...they had to design this building on a weird triangular plot of land.  But they did it and without any parking garages!  Due to the location of the structure, there are tons of public transportation "links" around the area, which eliminated the need parking space.  Instead, bicycle parking bays were built.  A few of the other green, eco-friendly aspects of The Green Building:

1.  A roof-mounted wind turbine that will generate electrical power for communal areas.

2.  Solar energy for hot water generation will be captured using roof-mounted panels.

3.  Designed to achieve a 60% reduction in CO2 emissions.

4.  40% less water consumption.

5.  Highly efficient communal gas boilers were installed.

6.  Facilities in the structure to promote tenant recycling.

7.  Full length, triple glazed windows on the south facing side of the structure to maximize solar heat gain.

8.  No baths in the residences.  Showers only.  The water taps are designed to use the minimum amount of water necessary.

In 2006, the architects were awarded a Sustainable Civic Trust Award for The Green Building development. 

++Other Green Buildings++
++Terry Farrell [website]

PS:  Utah is overbuilding the market and soon builders are going to be losing their shirts.  I went golfing today in an area called Eagle Mountain.  It's located about 25 miles southwest of Salt Lake.  First of all, it is a pain in the rear to get to...driving once was bad, I can't imagine commuting.  Its basically a two-lane road to get there and traffic is horrible, stop and go the whole time.  Anyway, the golf course was cool but they are building houses out there like crazy.  Big ones, 4,500 sq/ft and above.  Almost every finished house out there had a for sale sign in it, one next to another next to another.  And they were actively building more.  Nothing like over-building an area and then letting inventory sit.  I guess they can't stop the show now...but if ever you wanted to make a low ball offer on a house, Eagle Mountain, UT is your place.

Perrinepod: The Stackable Prefab Home That's Built In A Day

Perrinepod is the brainchild of architect Jean-mic Perrine.  Simple and clean yet just what people want.  Quality construction that will last for a while.  You know, I love when you see prefabs in pictures and it looks like they are isolated out in the middle of nowhere...like a pod dwelling on the surface of Mars with no inhabitants.  Used as a runaway from city life to find solace in a modern, green pod.  Anyway, I digress...Perrinepod is based in Australia (homes are manufactured locally as well) and they are making their debut this year.  Perrinepod claims they can stack their pods up to 30 stories high and they can be delivered within a month of ordering. 

If you order multiple pods, they come equipped with the wiring and plumbing built in, so they can be fused together without a problem.  Utilities are hooked up at a central location.  They are made from polished concrete, aluminum and glass.  They come in three sizes:  one, two and three bedrooms...with external sizes being 8 x 6 meters, 8 x 9 meters, and 8 x 12 meters, respectively.  The price ranges from about $83,000 to about $170,000.

According to the architect:

Living spaces have become as transient and irrelevant as clothes.  It's no longer a look for a generation, the look of 'now' only lasts for a three to four year period.  That approach is not sustainable and people are putting themselves under a lot of unnecessary pressure trying to keep up.

That's a pretty interesting statement, especially in the context of America's growing sub-prime mortgage meltdown.  People all over the country are buying houses they can't afford.  Keeping up with the Jones' is a black hole that a lot of people can't get out of.  Buying and living in a space such as the Perrinepod takes guts!  You are basically minimizing your belongings to those things that matter most.  I have to admit, when I was in college and then right out of school, there was something satisfying and liberating about knowing that I could fit all of my belonging in the back of my truck.

++Equity Green Prefabs++
++Perrinepod [website]

Mosler Lofts In Seattle Deliver Green Urban Lifestyle

Basically, Mosler Lofts should be featured on MTV Cribs.  They are 100% the real deal!  This building comes with a ton of amenities and green features.  The building really has an awesome contemporary feel.  It was built with green in mind...they are awaiting LEED-silver certification.  This is loft living!  The floor plan calls for a lot of open space and all the units have high ceilings (10' high).  The views are unreal!  Right now it looks like they have 5 units left.  On the smaller end, they have a town-home listed at $649,900 for 1,100 sq/ft ($591 per sq/ft).  On the larger end, the penthouse is listed at $1.745 million and it has a little over 1,800 sq/ft ($955 per sq/ft).  Wow!  You would hope the insides are plated with gold.  Rest assured, you do get a ton for your money.  Here are just some of the condo features:  exposed concrete ceilings, private balconies, full-size front loading washer/dryer, Grohe faucets, European-style designer wood cabinets, stainless steel Bosch appliances, landscaped rooftop garden, fitness center, close vicinity to the Space Needle and Lake Union and Elliott Bay views.

As for the green features, the building includes:  solar panels on the roof, high efficiency boiler, high efficiency elevator system, green roof, energy star appliances, use of certified wood, hybrid car recharging stations, storm water management, CO2 monitoring, low-VOC paints, high performance windows, natural day lighting in all units and occupancy sensors for lighting efficiency.

It looks like Seattle is making a big push for sustainability.  Move over San Francisco.  There are a ton of green developments in Seattle and it seems to be welcomed by the residents and city officials alike.  Its great to see a city allow options for healthy, green, downtown, urban living, which offset the growing problem of suburban sprawl. 

++Mosler Lofts [website]

View South

Real Estate Roller Coaster...Since 1890!

G-Sky + Grass Walls = Business 2.0's Next Green Trend

A while back, I wrote an article about the 'heat island effect' that occurs in large metropolitan cities (read article)...and that constructing green roofs helps to combat this problem.  Well, this months edition of Business 2.0 takes it one step further.  Green Walls.  Now, I am a bit skeptical...its hard for me to imagine going to a large city like San Francisco and seeing a big skyscraper covered in grass.  However, with innovative architecture...I can't wait to see the possibilities.

What's the point of all this grass anyway?  Think about heat absorbing urban buildings...the concept behind the heat island effect is that cities have a much higher temperature (up to 8 degrees higher) than surrounding rural areas because concrete buildings absorb and hold the sun's heat...leading to higher emissions, higher utilities, larger environmental footprint, etc.  So, by covering a roof with grass, you reduce the heat island effect by reducing the building's overall temperature.  The building is better insulated, which results in less energy to heat or cool the structure, reducing utilities, etc.  Doing a quick back of the napkin calc, an all green building could save you $80,000 in utility costs and extract 40 tons of carbon from the air.  Not too shabby!   

Business 2.0 sees green walls as an upcoming trend in the green world.  Enter G-sky!  G-sky actually has a really cool website with a lot of good info.  They are a commercial enterprise that can install plant-filled wall panels on any vertical surface--starting at $100 per square foot.  Many people in the "green roof" industry feel like the market for green walls is huge.  According to Business 2.0, the total square footage of green roofs in the US alone is growing at a rate of 125% per year.  When you consider commercial and residential market potential, the economic and financial implications are equally huge.  Check out G-sky and tell me what you think.  Actually, if there are any of you involved in real estate (agents, investors, developers), answer this question for me.  Would a building with green walls be harder to sell even though you have the financial/economical benefits of reduced utilities?  I know it depends on the individual but comments are welcome.

TechNet Explores Technology + Green Trends

I came across this ABC News (search: 'Tech Goes Green:) video clip on Yahoo about TechNet, which is a bipartisan political network of CEOs and Senior Executives of leading U.S. technology companies...representing more than 1 million employees.  It is pretty cool actually.  All of these CEOs and big wigs get together and talk about issues facing the world today and try to figure if/how technology can be used to tackle some of these problems.  Members of TechNet include heavy hitters like Microsoft, Amazon, Ebay, Cisco, and Visa.  The video I saw was an interview with John Chambers, the CEO and Chairman of the Board of Cisco Systems.  He had some really interesting ideas and I was trying to apply what he was saying about technology to real estate. 

According to Chambers, there is approximately 1.5 billion dollars of venture capital right now chasing green technologies and renewable forms of energy...he feels that it is the next big wave that will cause a paradigm shift in how we live and conduct our lives. 

I agree with that.  Not only does it provide efficiencies from an financial or economic point of view...socially, it is the right thing to do.  And it seems like the green movement is close to a irreversible tipping point...with groups from all different platforms (government, business, Al Gore) coming together with a common goal...that's when things can happen and happen very fast!  Alright, how does this relate to real estate.  Follow this...technology-->real estate-->sustainability-->economic footprint-->profitability-->new trends-->TELECONFERENCING! 

This was a trend mentioned by Chambers but it hit me pretty good.  As the internet continues to grow and progress and as businesses cater to and develop more sophisticated forms of employee flexibility (work when and where you want...just get your work done) and as homes and businesses are built with an infrastructure for teleconferencing (demand for these types of building structures will increase and the quality of the structures will have to improve because we will spend more time in them)...the quality of our personal lives will increase.  We will be able to work faster...be more flexible...more efficient...less congestion on the highway...less emissions...smaller personal footprint...increased profitability!  So, if anyone at work asks where I have been...I will respond, "I work at home to reduce emissions!"

Green Real Estate Markets

Go green...Oscar style!  I think we are going to see some amazing progress with respect to green alternatives in 2007...we already have.  Lately, I have been thinking about real estate trends...sustainable buildings, mortgage lending, appreciation, mixed-use building construction, etc.  How do these trends impact us now?  Which ones are the most important for us to focus on?  Are they inter-related?  I think they are but it can get really complicated. 

Consider real estate markets.  For all intents and purposes, real estate markets are a regional phenomenon...housing trends tend to be localized...as Bay Area prices begin to level off on the west coast, the Phoenix area continues to experience moderate to strong growth.  However, even in real estate, some trends are shared by all markets, even on a national or global level.  One of these trends is the green movement, which is the focus of this blog.  But another trend is the use of ARM (adjustable rate mortgages) by banks and mortgage lenders.  With low introductory rates, many people have chosen ARMs as opposed to traditional fixed rate mortgages.  And banks have not been shy about lending up to 5x buyers' incomes...what does all this mean...well, it means we could have a problem.  If interest rates rise, homebuyers could become over extended, which could ultimately lead to foreclosure and with many ARMs expected to adjust this year...this could definitely cause some interesting things to happen especially in the residential housing market.

So, if this happens, will we see a slow down in the construction of green-ready homes?  How will this influence sustainable development?  Prices?  It will be interesting to see how this plays out...on both a micro (local) and macro (national) level.  I don't see green initiatives slowing down anytime soon but at the same time, if buyers can't afford to stay in their homes, something has to give.  Let me know if you have seen any interesting trends in your cities or states.  Have more houses come on the market?  Are builders offering green alternatives in construction?  Post a comment...I am curious as to what is happening across the country. 

Boston Is Turning Green!

Boston is positioning itself to become the first major US city to require developers to build green on projects that are larger than 50,000 sq/ft. Obviously, the goal is to promote energy efficiency...and to encourage all members of a supply chain to incorporate environmentally conscious behavior in their work practices. This includes everything from energy efficient appliances to solar panels on the roof. The current standard established by the US Green Building Council is LEED, Leadership in Energy and Environmental Design. But is it too expensive (in developer's eyes) to certify a building or structure under the LEED guidelines? Boston's standards would not require that buildings be certified under the LEED system. Boston's certification process would be less complex...although the standards would be approximately the same. So, with construction costs going up and the housing market slowing down...will there be pushback from builders who are required to build according to costly green standards? Will cities, jurisdictions and various trade organizations adopt a less costly, equally environmentally friendly standard in 2007? Personally, I think that if construction costs continue to climb, interest rates rise and the housing market continues to level...builders will look for ways to ensure their bottom line...and inexpensive green standards could become very popular. Comments please. Boston Will Require "Green" Building

Patagonia Distribution Center Is Built Green

When Patagonia needed to expand its distribution center by 171,000 sq/ft, they decided to go green, using LEED certification standards as their guide. They wanted to mitigate the building's effect on the environment by building a building that balances environmental responsibility, resource efficiency and the well-being of their workforce.  Some of the things they implemented were storm-water runoff management, landscape and exterior design, water conservation, energy efficiency, recycled construction materials, and alternative transportation and recycling. 

In addition to being environmentally minded in the structure they built, Patagonia also donates 1% of their sales to the preservation and restoration of the natural environment.  Since 1985, Patagonia has donated over $25 million as a result of their "1% For The Planet" program.

And "Wee" Have a Winner by Alchemy Architects!

Spectacular building designs were recently celebrated at the 2006 Honor Awards presented by the American Institute of Architects Minnesota.  The competition is an annual event and distinguished architects from out of state come and judge the work on the state's licensed architects.  This year, award recipients ranged from an apartment in New York to a museum in Alaska.  One that particularly caught my eye was the ARADO WEE HOUSE located in Pepin, Wisconsin.  The house belongs to Stephanie Arado and was designed by Alchemy Architects.  The cost of the structure was $45,000 and the heat source is a wood stove.  Its a small little thing...with a oxidized steel frame and a wood "fir" framed interior.  Anderson sliding doors + ebonized oak shelves + stainless steel & enameled cabinetry from IKEA.  I WANT ONE!

These small prefabs would be perfect in the mountains, close to ski resorts (near Truckee, CA or up Little Cottonwood Canyon, UT close to Snowbird or Alta)...if you could get them up there.  Assuming you could, $150,000 for the land + $50,000 for the prefab house + $8,000 to ship it + ($30,000 for an optional solar panel on the roof) = $240,000 gets you a fully green, fully sustainable green ski getaway!  Pics and info via weehouse.

Other Winners

Arado Wee House Pictures