Green Building Industry Staying Afloat

While many construction and development projects are finding trouble getting funded, sustainable design firms are hanging in there.
November 12, 2008, 10am PST | Judy Chang
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"The council is not the only one continuing to see growth in the face of a cooling construction market. In interviews with a number of architecture, development, and construction principals, the story was the same: There is no turning back. In fact, sustainability might be the industry's salvation.

'Just because the credit is hard to find, you're not going to build a bad building,' developer Douglas Durst said. 'You're not going to leave out an efficient HVAC system or a co-gen elevator. You're still going to build that in because that is now what the market demands.'

As the man who was a driving force in bringing sustainable design to the city's office market at 4 Times Square, Durst should know. He 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."

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Published on Monday, November 10, 2008 in The Architect's Newspaper
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