"Green" building has become increasingly popular in the construction industry, particularly in home construction. But while this sector has boomed, others have lagged behind--until now. The rapid expansion of green emphasis in hospitality and retail building sectors has hit its stride, doubling in growth since 2011 and predicted to swell to more than half of all retail and hospital new construction by 2015.
Constructing green buildings in retail and hotel projects is defined by the Green Retail and Hospitality SmartMarket Report. These are high resource efficiency projects that meet nationally recognized green standards, such as Leadership in Energy and Environmental Design (LEED) certification by the U.S. Green Building Council.
Previously seen as a dubious choice due to higher costs associated with green building practices, going green today is increasingly cost effective. Â Sustainable design and construction is now seen as the expected norm rather than the extravagant exception with the enhancement of asset values and increasing consumer demand propelling this growth.
The SmartMarket Report reveals several growing advantages and only limited obstacles remaining in the path of better sustainability in these construction sectors.
Lower energy use has been reported across the board, creating immediate and ongoing savings and increased value. The report indicates an average 15 percent reduction in energy consumption.
According to the report, asset value increases have jumped by 7 percent in retail locations and 11 percent in hotels that were designed and constructed according to recognized green standards. There is no longer a negative factor in return on investment.
Customer satisfaction and loyalty as well as employee satisfaction on the job have both been enhanced by green emphasis in design and construction.
Sustainability does come with a higher initial price tag, slowing acceptance for many projects. But for those able to get past the initial investment challenges, the benefits are real and significant, in both financial reward and popular image perception.
If you need help in the Western US, please contact Ed LaCivita or Craig Sullivan at Parkwest General Contractors.
