According to the “The Real Deal,” Cushman & Wakefield, a privately owned commercial real estate firm, has become the first real estate services firm in the U.S. to sign an agreement with the Environmental Protection Agency. The deal outlines practices that are designed to increase energy efficiency, promote water conservation, and lower waste and carbon footprints. The Cushman & Wakefield firm, which has been around since 1917, sets a precedent for other major firms to follow if they hope to truly claim “environmental friendliness” in their practices. It’s just another step towards the real estate industry’s movement towards “green building” and “environmental responsibility.”
The incoming presidential administration has made it clear that it will put forth green initiatives that will potentially help the environment and boost the economy. Within those initiatives there’s the issue of energy and renewable sources. Knowing that there is a possibility for real estate incentives to build homes that are “energy efficient,” developers are beginning to look at wind, solar, biofuel, and other energy sources to use as part of their home building process. This not only will be lucrative to the developers, but to the buyers as well, as there are more long-term savings in renewable energy than in fossil fuels.
In the mean time, the trend continues to be down a “green path” and the real estate industry is clearly beginning to adapt to this modern-day societal shift on environmental and energy-related issues. 2009 is a new year and only time will tell if the trend is effective and long-lasting. It would not be surprising to see more real estate firms and developers agreeing to deals like the Cushman & Wakefield agreement throughout this year. Many efforts will be taken to try and rejuvinate the ailing housing market and restore the real estate industry to solid standing.
April 11, 2009 at 7:27 am
Great stuff. Nice to read some well written posts that have some relevancy !