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COPYRIGHT 2007 The Counselors of Real Estate
INCORPORATING BUILDING DESIGN ELEMENTS that are environmentally sensitive. Embarking on facility retrofits to conserve resources. These are no longer daring, radical concepts employed only by avant-garde thinkers with deep pockets. Today, going green isn't just a feel-good proposition that can get a company positive headlines and community applause.
Whether they are starting a building project from scratch or finding ways to retrofit existing facilities, companies that have committed to saving energy and resources are now enjoying national recognition--and significant financial rewards. Two examples:
* Bank of America -- The financial giant is building a cutting-edge, $1 billion skyscraper in downtown New York that will generate 70 percent of its own electricity, cut water consumption in half, and rely on local and recycled materials for construction.
* Adobe Systems Inc. -- The renowned developer of graphic design software has completed dozens of retrofit projects at its Silicon Valley headquarters that have had the aggregate effect of decreasing energy use by 35 percent, natural gas use by 41 percent, domestic water use by 22 percent and landscape irrigation by 76 percent.
Adobe has already earned the U.S. Green Building Council's LEED Platinum designation, the top rating that signifies meeting tough criteria for sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality. Bank of America is well on its way to becoming the first in the nation to receive this widely recognized certification for a high-rise building.
Both companies are also gaining from attractive fiscal benefits. Bank of America is receiving a Green Building tax credit...
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