In previous posts, Green Building Law Update pointed to anecdotal evidence that financing difficulties were affecting the green building industry. While there may be specific examples of green building difficulties, the bigger picture does not look as dire.
According to a recent article, the green building industry is “staying afloat” despite the tight financing market. More importantly, at least in New York City, incorporation of green building strategies may actually be a prerequisite for obtaining financing:
Douglas Durst said that in this day and age, all the top tenants demand green projects, a fact the banks know, making financing such projects easier, not harder. With credit so difficult to come by, a few sustainable features or a LEED application may be the deciding factors on that eight-figure loan.
So the state of the art will likely require green building projects and obtaining financing requires green building strategies. Why are you not in Boston learning about green building? Want to learn more? Contact me at chris@greenbuildinglawupdate.com.
Related Links
- What Recession? (The Architect’s Newspaper)
- The State of Green Building (GBLU)
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