I read an article recently on the Atlanta Journal Constitution’s website in which representatives from local property management firms expressed opinions about the costs v. benefits of applying for LEED certification for their buildings and projects.
Some of the property managers that were quoted in the article said that they did not seek LEED certification—even for buildings that would likely meet LEED standards—because the costs of filing for the certification were too high. Additionally, they state in the article that they don’t believe that they have lost any tenants for non-LEED buildings.
As an alternative to LEED certification, some of the property management firms are seeking other green building/energy efficiency certifications such as Energy Star ratings. In some instances, the property management firms themselves have developed their own “green building” promotional branding, which highlights the sustainable and efficiency characteristics of the property.
Of course, all of the property management firms identified in the article have embraced LEED buildings to some extent within their businesses and portfolios—even those firms whose property managers felt that LEED certification costs were too high for some projects to be of value. So, obviously none of these firms have completely
Do you agree that LEED certification costs are too expensive to be of value to property management firms or building owners?
Construction and Green Building Law Blawg 