The Statistics are Bullish on Green

April 24, 2009  /  commercial real estate brokers

Two recently compiled and significant surveys underscore the prudence of Green Construction in Texas and in Texas LEED® certification programs. Turner Construction Company released a compelling commercial development survey and McGraw-Hill Construction released a comprehensive residential “Green Home Consumer” report earlier this year. Both reports reflect data accumulated through December 2008 and point to America’s very green future.There is no doubt that despite the country’s economic woes, the U.S. is bullish on green construction. Even more significant is the willingness of construction companies to adopt LEED® certifications in compliance with consumer demand. Like all marketplaces, green construction success will be consumer driven and will reflect Texas supply and demand. If demand in Texas continues to grow, supply will follow.Local, state and federal agencies are on board with the greening of America and the benchmark standards established by the four-tiered LEED® certification program. Despite all this support, less than 8,000 existing buildings throughout the country and much privately funded new development are not LEED® certified. These are areas where consumers and current users need to become proactive.Turner Construction’s report states that, “75% of commercial real estate executives – including developers, retail building owners, brokers, architects, engineers and more – say the credit crunch will not discourage them from building green. In fact, 83% said they would be likely to seek LEED® certification for buildings they are planning to build within the next three years.”On the residential side, McGraw-Hill Construction’s 2008 summary shows that 56% of green home purchasers earn less than $75,000 per year and that 29% earn less than $50,000. This mass demand for green construction points the way for future green housing projects.In a related report furnished by the Building Owners and Managers Association, the statistical date indicates that more than $10 billion of green materials are already slated for scheduled green construction projects. That figure is expected to reach $100 billion over the next ten years and covering just 6 infrastructure areas. These green endeavors will create at least 2 million jobs. The future continues to look bright and green for LEED® certification.

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