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An enduring issue that contains the building industry’s interest in more sustainable construction has been the financing difficulties encountered. Add to this the fact that appraisers often compare the new, more efficient and expensive technology to the old because to them it remains ‘apples to apples’. Where can appraisers get the training they need for appraising green homes and buildings?
Proposed legislation awaiting Public Comment in Seattle will eliminate parking requirements for multifamily properties in urban centers and villages, paving the way for greater density and ancillary income for savvy managers.
San Francisco currently has the nation’s toughest composting law and hopes to divert 90% of the city’s waste from landfills assuming citizens and businesses support the effort. Seattle charges participants for composting bin rentals. How soon will mandatory composting come to a city near you?
The lovely city of Seattle joined the big apple when its city council recently announced its unanimous approval of an Energy Disclosure Ordinance that requires the benchmarking of buildings. Benchmarking has been championed by the Department of Energy (DOE) with the EnergyStar slogan saying it all. ‘If you can’t measure it, you can’t manage it’.
It is estimated that each time residential density doubles, auto ownership falls by 32% to 40% when more destinations can be reached on foot or bicycle. Of course, in a built environment de-constructing a lot is less practical than new construction. However, it is worth considering approaching your city planners with a proposal to ask for a reduction in your property’s required parking.
Senior Economist Gleb Nechayev weighs in on the multifamily housing industry’s prospects for 2010 to Reuters and through CREOPoint, of which he is managing editor. With the cap rate at 15% and rental concessions on the rise, his predictions are none-the-less encouraging.
