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Green Developments Getting Green Light

Posted by: Tim Halbur

30 May 2009 - 5:00am

Developers are finding it easier to get funding for sustainable building projects due to federal incentives and investor interest in green certification.

"WHEN CROSLAND WAS designing its ?rst full-scale sustainable community, it wasn’t focused on certi? cation.

The developer began the design process by lea?ng through several green building ratings systems—LEED, EarthCraft, Green Globes EnergyStar—and decided to use whichever aspect of each made the most economic sense.

But when it came time to secure ? nancing, the deal’s lenders—Bank of America and U.S. Bank—and the equity partner— Northwest Mutual Life—all were excited to be part of a certi?able “green” community.

The ?nanciers encouraged Crosland to apply for the U.S. Green Building Council’s LEED certi?cation and even helped the company ?nd consultants to execute the vision. In today’s ?nancing world, Crosland wasn’t about to say no."

Full Story: Bridging the Green Divide
Source: Apartment Finance Today, May 28, 2009
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