Rental market growth slows, rents will stabilize or fall this year

Rental market growth slows, rents will stabilize or fall this year (via AGBeat)

The shifting housing and rental market As home values rise, mortgage interest rates remain low, and inventory remains tight, the housing market is showing signs of life after being decimated by the housing crash which kickstarted the recession. The housing market is changing not only with residential…

What is a Smart Building?

By Tina Casey | February 19th, 2013
The phrase “smart building” conjures up images of sleek new structures incorporating all the latest energy-saving bells and whistles, but that’s only part of the story. The fact is, any number of “smart” elements can apply to older, existing buildings. In addition to cutting energy costs, upgrading an older building can also result in a more comfortable and healthy environment for employees and customers, it can contribute to the quality of life in its community, and it can provide businesses with a green marketing tool that boosts their public profile.

The challenge for property owners is to find the right type and combination of smart elements that provide them with the greatest return on their investment.
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NYC Can Reduce Its Carbon Footprint 90% By 2050 With Building Sector

http://www.urbangreencouncil.org/90by50

Misconceptions About Building Green

Guest Post: Misconceptions About Building Green (via Green Building Elements)

Building green is a powerful movement. Some of the rhetoric about sustainable living is hype and unfounded. This can obscure the benefits of green building and give the term a negative connotation. However, technology and increased scrutiny on traditional methods have improved many areas of construction…

Energy Benchmarking Key to Realizing $9 Billion in Savings in Apartments and Condos: Benefits for Owners and Renters

Energy Benchmarking Key to Realizing $9 Billion in Savings in Apartments and Condos: Benefits for Owners and Renters (via Green Building Elements)

This information on energy benchmarking has been provided by the Institute for Market Transformation. Almost 40 million Americans live in apartments and condominiums in multifamily buildings (those containing five or more units). Over the past decade, these Americans have seen their energy costs rise…

Gables Park Plaza Awarded LEED – Silver Certification

Prominent Luxury Community Highlighted for Eco-Friendly Development and Features

Austin, TX (PRWEB) March 01, 2012 

Gables Residential is pleased to announce that Gables Park Plaza, a mixed-use luxury apartment community located in Austin, Texas, has received LEED-Silver certification from the United States Green Building Council (USGBC).

“Gables Park Plaza represents an exciting urban development that offers a host of sustainable features and amenities,” says Ben Pisklak, Vice President Investments for Gables Residential. “Each detail of the community was carefully planned in an effort to maximize the quality of product delivered while offering eco-conscious features and amenities.”

Within the 290 luxury apartment homes, Gables focused on incorporating a variety of ”green” features such as using renewable bamboo flooring in all residences, low VOC paints, energy efficient lighting, improved insulation, 14 SEER HVAC equipment, roof system with high SRI (Solar Reflective Index), Energy Star appliances and solar shades in each apartment home. Community amenities include electric vehicle car charging stations (EVCs), preferred fuel efficient parking, recycling bins and rain sensors on irrigation systems.

Federal and Local Funding Incentives for Multifamily Energy Efficiency Upgrades

Photo by ljcybergal

The federal government recently recognized that the U.S. rental housing sector needs an impetus for large scale energy efficiency. The Department of Housing and Urban Development (HUD) has announced the availability of $25 million in grants from a Multifamily Energy Efficiency Pilot program. The intention for the program is to stimulate innovative approaches for increasing the efficiency of existing multifamily residential properties that can be replicated by others.

HUD expects the following outcomes:

1. Lower energy consumption from multifamily properties leading to lower costs and less pollution.
2. Increased private investment in energy efficiency
3. Green job creation and cultivation of green knowledge by owners and managers. 
4. Opportunity for solutions for split incentives between owner paid v. tenant paid utilities.

Unfortunately, rather than offering the funding to a majority of the rental housing market the feds opted for the trickle down theory. Up to $7.5 million can be awarded to one applicant.

Green Multifamily Development: Concepts for Infill

Infill development is a frequent occurrence in the urban landscape. Vacant lots and older homes are reconstructed or replaced with a wide variety of medium to high-density residential buildings. In the past few years some multifamily developers have recognized the benefits of green building to attract buyers and renters. Green attributes, such as energy efficiency, solar panels and low-water landscapes, can sell (or rent) units sooner and demand a higher premium. Some cities offer green building incentives while state and utility programs offer favorable rebates. DSIRE lists many.

62-unit complex ~ Courtsey of Dwell

A few years ago a developer convinced Architect Robert Swatt to design a green multifamily project near Oakland, CA. Through careful planning the concept became a LEED certified 62-unit complex with 5 separate buildings. With a combination of studios, townhouses and lofts ranging in size from 500 to 2000 square feet there is sense of uniqueness and common community. For more...

In one area of coastal Southern California, existing multifamily properties are selling for roughly $275,000 per unit. That’s why eco-friendly modular housing starting at $100,000 is so enticing. The traditional benefits of modular housing are reduced construction time and costs from factory efficiencies and labor-saving designs. Eco-friendly designs further provide high quality, energy efficient units. Factor in additional costs such as: land, foundation and contractor finishing. You may find new modular housing infill to be comparable in cost to an inefficient complex from the 50’s. 

Craning a ZETA modular

ZETA finished home

ZETA Zero Energy Communities is all about super green urban infill. They are tailoring their San Francisco business to multifamily housing. Their townhomes, condos and flats can be connected and/or stacked four stories. What’s cool about their modular units is that they are built to be net zero energy. Tenants or homeowners will have zero electricity bills. They incorporate all of the energy saving technologies while claiming to produce 20% lower construction costs than traditional builders. For more on Zeta.

weeHouse model

Alchemy Architects in Wisconsin offers various designs and sizes of their weeHouse. A 1 bedroom, 1 bath studio starting at $79,000. Imagine a small community of these stacked.

Living Homes out of Santa Monica offers many design options and will tailor for multifamily developments. Their homes start at $180-$250 /square foot.