While sustainable real estate is nothing new, many real estate investors are choosing greener buildings when looking at investment properties in the hopes of lessening their carbon footprint and attracting more climate-conscious residents. Low carbon emissions, reduced water usage, and fewer cars driving around are just some of the benefits of incorporating “green” into your investments. Sustainable real estate also creates a space for higher rents, helping you gain a competitive edge.
Shifting to Green
In the past few years, more developers have become aware of the risk associated with climate change, mostly due to technological advancement and tools that help track carbon count and other environmental factors. These tools also allow them to recognize how they might do better environmentally without hurting their finances. Another tool, LEED, was created by the U.S. Green Building Council to provide builders with a sustainability standard they can use when developing new buildings. According to their website, by 2030, the project will have prevented over 540 million tons of waste from ending up in landfills.
This shift to green is no better documented than in the announcement that Lendlease, a real estate developer, would be opening a $600 million residential and office complex in Los Angeles. What makes this building different is that sustainability is the central focus of its business plan. Sarah Neff, the head of sustainability for the Americas region at Lendlease, has stated that while the need for sustainability to be a central focus of their business plan was always the plan, they've begun to feel pressure from their investors to continue that urgency.
How a New York Real Estate Attorney Can Help
States across the country are beginning to roll out new legislation that reflects the country's efforts to prevent climate change from worsening, and even Wall Street is asking for sustainability efforts to be made transparent. With this push to green, working with an experienced real estate attorney can make all the difference. At Monachan Law, we work diligently to ensure your investments meet your high standards. Call us at (347) 389-1682 or contact us online to schedule a consultation today.