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http://www.rics.org/NR/rdonlyres/8C80CEC1-21C1-4C88-A514-ACCDD7F8C348/0/ValuingYesterdaysOfficeBuildings.pdf
These are terrific questions. I do think that bankers are more receptive to green projects, provided that the projects are otherwise well-grounded (functional, well-located, strong pre-leasing). Green features typically enhance the value of otherwise viable projects. (I've yet to encounter anyone who didn't want to lease a building because it was energy-effiicient or green.) That said, this market cycle is challenging, and investors and lenders are very choosy about projects, whether green or conventional, and the underlying real estate fundamentals have to be sound.
One of the areas that I get into in my practice is helping developers to educate lenders and investors on the viability of green projects. It is necessary to document the economic impact of the green features in terms that the lender can appreciate, and to provide the information needed to make the lender or investor comfortable with green design and construction practices.
Leanne
leanne.tobias@malachitellc.com
www.malachitellc.com