Green, sustainable and eco-friendly apartment features are now more expected than the exception.
It’s not in every renters’ budget due to the high pass-through costs of these elements. However, there can be great long term value for municipalities, corporations, and their workers. How much difference can they make? Why aren’t there more net zero buildings? What’s the smartest solution?
The Health & Productivity Benefits of Green Buildings
According to survey data from Big Rentz, aside from the natural environment, the benefits of greener buildings include:
- 16% greater productivity
- Enhanced mental health
- Better decision making
- Improved strategic thinking and planning
- 23% higher happiness levels
- 30% fewer health problems
- Reduced stress
Every renter and family desires these perks, as well as their bosses. It’s understandable that these buildings and apartments should fetch premium rents.
50 Shades of Green
Of course, all of the above rely on different types of green, sustainable and eco-friendly features. That can range from low VOC paints and low E windows to repurposed and recycled materials, energy efficient appliances, cleaner airflow, solar and electric vehicle charging stations. There is also a lot of hype about LEED certification. Though experts like the founder of Green Homes Hawaii say, LEED isn’t practical or functional for many environments. Others can help by simply reducing parking spaces, using smart landscaping or providing tenants close proximity to health and fitness centers, like our property in Atlanta.
The Greenest Option
In reality, sometimes the greenest option is the existing buildings that are out there. It does much less damage, uses fewer materials and results in fewer emissions to revitalize existing apartments than to build new ones from the ground up. It is also more cost effective and helps protect the affordability of rents for the local workforce. Then integrate more energy efficient and cleaner upgrades whenever you need to replace something.
ABOUT THE AUTHOR
Bill Zahller is the President of Park Capital Properties and resides in Asheville, NC. As a Multifamily Real Estate Investor and Syndicator, he founded Park Capital Properties in 2016 after 14 years involvement in real estate investment. He works with accredited investors and professionals who are interested in real estate investment, diversification, and financial freedom.
Bill has been flying since high school. His father was a Naval Aviator and Captain for TWA. Bill has been flying professionally for over 25 years, 23 of those at his current company. He has accumulated over 12,000 hours and 7 Jet type ratings. He has also held Instructor, IOE Instructor and NRFO pilot positions with a large fractional flight company. He is currently flying the Global 6000 in a long range mission capacity. This keeps it interesting – one week its Beijing or Sydney; the next Rio or Rome.
Bill is also the founder of the Asheville Multifamily Investor Club. Visit www.ParkCapitalProperties.com for more information.