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Altruistic or Opportunistic?

Published Saturday, July 01, 2006

Ten years ago, commercial real estate professionals perceived “green” — or environmentally sustainable buildings — as high-cost projects reserved only for altruistic tree huggers with deep pockets. Today, green buildings are sprouting up across the country, leaving hard-core investors asking, “How do green buildings really pencil out?” The accepted wisdom a decade ago was that green buildings cost 15% to 20% more to build than conventional buildings, says Michael Deane, operations manager of sustainable construction for Turner Construction Co. But that's no longer the case. “Although it still may cost a developer 2% to 4% more upfront to ...

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