Posted on November 19, 2008 by Chris Cheatham

The State of Green Building

In anticipation of GreenBuild, Green Building Law Update is going to step back and ask: what is the state of green building? 

These are definitely interesting times for the green building industry.  On the one hand, as I have highlighted, green building projects may have to be shelved due to the tight lending market.  But making conclusions based on a snapshot of the current green building industry is short-sighted.  Prior to the economic crisis, we were in the middle of a “green revolution” and the revolution will continue when we emerge from the slumping economy. 

I am not the only one voicing these long-term positive expectations for green building: 

"The state of the art will be green," said Block, partner at Tannenbaum Helpern Syracuse & Hirschtritt LLP. "There’s no question about that." Block pointed out that as part of their more stringent standards, lenders will insist on the-state-of-the-art when it comes to financing new construction. Moreover, government is leading the way in mandating green standards, he added.

If the state of the art is going to be green, maybe it’s time you learn about green building.  Stick with Green Building Law Update and we will lead you through the “green revolution.” 

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Come hear construction, design and surety experts speak about emerging green building litigation and risks:

Green Building:  Opportunity or Legal Quagmire? 

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Posted on November 7, 2008 by Chris Cheatham

The Google Delays Green Building Project

 

As the economy continues to stumble along, the effects on the green building industry are starting to emerge.  Green Building Law Update previously predicted that LEED certification would find itself on the chopping block and specific examples were discussed.  Now, via Jetson Green, an even more stark example has emerged: 

Google Puts Plans for Beyond LEED Platinum Offices On Hold

 

Touted as the "greenest building of all time", Google (or The Google, if you prefer) intends to build a project that goes beyond LEED Platinum.  But the down economy has even affected Google's green building project: 
Dave Radcliffe, Google's vice president of real estate, said the project didn't make financial sense at the moment, even though the company reported unexpectedly high profits this quarter.

"We're focused on making the most efficient use of the space we have," he wrote, "and new construction at the site doesn't currently make the most economic sense."
Importantly, Google intends to build the project sometime in the future.  Instead of eliminating the green building strategies, Google has simply put its green building project on hold.  Google, it seems, recognizes the costs to build green will be repaid in the future:  
"I don't think it's going to cost any more than it would to do a Class A style building for Google," Farrell said. "It's certainly going to cost less in the long run -- 10 to 20 years."
As we wrote last week, projects that do not incorporate green building strategies risk being outdated in the very near future as more projects incorporate such strategies.   Google gets it, do you? 
 
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