“Green” building is a hot topic, but what does it mean? There are various metrics utilized by local governments and associations to quantify the "green" elements of new and existing construction. Universally, it means building and design practices that address sustainable site planning, water and energy efficiency, conservation of materials and resources, and indoor environmental quality.
Why should you be interested in "green" building? It results in operational savings (e.g., reduced energy bills). It also may increase your marketability and property value. A recent U.S. Green Building Council-McGraw-Hill survey indicated that 70% of the respondents said that they are more likely to buy a green home than a conventional home in a depressed housing market. More than 80% of the survey respondents also said that they believe green homes are better and healthier places to live.
However, before you go "green,” let us walk you through some of the potential legal pitfalls, such as construction contracts that over-generalize green goals, and introduce you to some green building funding opportunities and insurance concepts. If you want more information on how or where to incorporate "green" construction and renovation into your business practices, please contact Bruce Schoumacher (bschoumacher@querrey.com).
