Businesses benefit from green building
Sustainable buildings may cost more to build, but tenants are willing to stay longer and pay more.
Business representatives at Los Angeles Business Council ‘s Sustainability Summit on June 29 discussed how building green (efficiently) has increased their own green (money), according to a story in the Los Angeles Times.
More than 500 businesses were represented at the summit, as well as government officials and nonprofit organizations. Business leaders discussed why energy conservation and environmentally friendly practices were good for the company image and the bottom line.
Meeting the USGBC ‘s LEED standards may cost 1% to 2% more for construction, but LEED buildings rent for 6% to 10% more and tenants are less likely to leave, according to Kevin Ratner, president of a unit of the $10.9 billion Forest City development firm.
Some of the California organizations and businesses boasted how rebates and utility savings have allowed them to retrofit their buildings for free. Others criticized the state for the "litigious nature" of projects.
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