Green Building and Multifamily

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This presentation summarizes research conducted in 2009 on the characteristics of multifamily apartment properties that registered and became certified for LEED status as of late 2008/ early 2009. (Cover art by Ross Schmidt)

Published in: Real Estate, Business
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Green Building and Multifamily

  1. 1. GREEN BUILDING AND MULTIFAMILY HACE 4300 University of Georgia Andy Carswell, Ph.D.
  2. 2. LET’S SAY THAT YOU ARE A PROPERTY MANAGER WITH A BRIGHT IDEA!
  3. 3. ‘ I REALLY THINK WE SHOULD GO GREEN WITH OUR PROPERTY’
  4. 4. THE OWNER OF THE PROPERTY MIGHT BE A BIT HESITANT
  5. 5. THIS INVESTMENT WILL LARGELY DEPEND ON THREE SIMPLE THINGS
  6. 6. net
  7. 7. operating
  8. 8. income
  9. 9. I CAN’T HEAR YOU! LET’S REPEAT…
  10. 10. NET
  11. 11. OPERATING
  12. 12. INCOME!!
  13. 13. RESEARCH QUESTIONS    Which specific areas of the LEED certification process do multifamily properties differ from other property types? Is there an association between areas with extreme temperatures and the certification/registration of green properties? If so, does this association become less significant over time as LEED certification becomes more commonplace? Does green multifamily building occur in areas that are considered high-priced?
  14. 14. Median Gross Rent - Green Building $ 715.41 Median Gross Rent - Citywide $ 645.75 N 216 t-Value 3.426 Sig. 0.001
  15. 15. IMPLICATIONS, LIMITATIONS, AND SUGGESTIONS FOR FUTURE  Potential bifurcation of rental market  Possible implications for property managers  Image problem for “non-green” multifamily developers  Conundrum for appraisers of apartment buildings  Potential exists for surveys gauging satisfaction and perception of green residences by occupants

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