Industry News

Planners push ‘green’ real estate development

Roundtable hints at lower electricity costs, higher property values

Widespread use of green and sustainable real estate development hinges on convincing the land use industry that applying the practices makes sound business sense, from energy savings to added property value, according to industry experts at a roundtable discussion recently co-hosted by the Urban Land Institute.   The roundtable, which focused on moving green and sustainable development techniques into the mainstream, included a variety of public officials and private-sector representatives from the development, investment, brokerage and environmental conservation communities. "This (the green and sustainable development movement) is about changing behavior," said Roundtable Chairman Kenneth W. Hubbard, executive vice president of Hines in New York City. "Sustainability is the single most important movement facing architecture and design...Corporations have to press their leadership and architects to understand that good architecture is green architecture."   The Hines real e...