Turner Construction surveyed 754 respondents consisting of executives at companies, including developers, rental building owners, brokers and real estate services, and architectural/engineering/construction for their Green Building Market Barometer survey.
The survey suggests that the credit market condition is not likely going to affect plans to build green buildings. Because green buildings are designed to be more efficient, 75% of the commercial real estate executives said they wouldn’t be any less likely to construct “green” buildings.
The survey respondents noted that green buildings:
- can generate a greater return on investment;
- are designed to be more effi cient in their use of energy, water and other resources which creates better environments;
- create an attractive cost/benefit ratio and are considered to be less expensive than non-green buildings on several measures of cost;
- have a higher occupancy rate;
- increased worker productivity;
- improve learning in schools;
- and have an estimated payback period for sustainable features of seven years.
Out of the executives that were surveyed, 83% of them said they would be very likely to seek LEED™ certifi cation if they built within the next three years. For those that would seek LEED™ certification, 40% expect to pursue Silver, 25% will seek Certified level, 25% will pursue Gold and 10% Platinum.
The survey was the result of the fourth independent online survey commissioned by Turner Construction Company since 2004. The 2008 Green Building Market Barometer focused on executives involve in commercial real estate. For the complete article please contact Kim Trautman or mark the fast fax section on the back of the ABC Newsline.