News: Long Island

Green - It's not just for tree-huggers anymore: The time is now to deal with environmental issues

Do you think that this whole "green" thing is just a passing fad? Could it just be some giant miscalculation? Maybe a decimal point in the wrong spot or something. (Has anybody checked the math?). Maybe we really DON'T have to worry about our dwindling resources, taking care of environment or global warming? Well, think again. The evidence is overwhelming. The global environmental issues are something we need to deal with right now, and forever. A huge part of the problem is our buildings. Buildings account for: * 36% of total energy use * 65% of electricity consumption * 30% of greenhouse gas emissions * 30% of raw materials use * 30% of waste output * 12% of potable water output Source: US DOE Energy Information Administration There is no shortage of good reasons to "go green." You've heard them all; melting polar ice caps, rising water levels; water and air pollution; disappearing rain forests and green spaces; energy shortages; sick building syndrome; a clean place for your kids and grandchildren to grow up in...just pick one...whatever moves you. There are no wrong reasons to do the right thing. Many tenants believe a green working environment isn't their problem. "We'll let the landlords figure it out, after all, it's not our building, we just rent." But there is a lot that tenants can and should be doing. There is also a widely held presumption that "going green" costs too much money. The Tree-huggers would argue that no amount of money is too much, that the environment is too important. That's a good point, but one that will never fly on Wall Street - because businesses need to make decisions based on economic factors. There's no environmental value in having a "green" company in Chapter 11. The good news is that generally "green improvements" pay for themselves within 3 years and from then on - you're "in the black." And by the way, it also just happens to be good business. Before very long, employees will be demanding healthier working environments. Green office environments mean more effective recruiting, better worker productivity, lower absenteeism, better employee retention, free publicity and yes, even lower operating costs. Employee salaries are often the single greatest cost associated with running a business. It just makes sense to invest in an interior space that maximizes the employees' comfort and productivity. Don't take my word for it, do the research - green still means money, too. If the West Coast is a good indicator, green tenant spaces will be the rule, rather than the exception, in the very near future. And I would hate to be the employer trying to recruit or retain talent without it. The United States Green Building Council (USGBC) has adopted a very detailed rating program called LEED (Leadership in Energy and Environmental Design). LEED has become the standard for rating the environmental sustainability of buildings. Tenants can earn LEED for Commercial Interiors Certification by earning credits based on a number of factors including: * Sustainable Sites * Energy & Atmosphere * Water Efficiency * Indoor Environment & Quality * Materials & Resources * Innovation & Design Earning the certification is a big commitment and a lot of work, but the payoff is huge and comes in many ways, not the least of which is a healthier bottom line. Assembling a good team is the first step and critical to the success of the project. Team members who have earned the LEED Accredited Professional (AP) designation will be able to guide you to LEED credit-earning strategies and direct you to environmentally sound practices and vendors that can help you earn the certification. Obviously, selecting a building that is already LEED Certified would be give your company a jumpstart on certification of the Tenant Space. Unfortunately, as of today, there is only one such office building on Long Island. The Albanese Organization's property at 1001 Franklin Ave. in Garden City has just been named the first LEED Certified office property on Long Island and not coincidentally, the office space in the building is already 100% leased. But even if you don't locate your business in a LEED Certified Building, your tenant space can still be LEED Certified and you will enjoy many of the tangible and intangible benefits of going green. As I said, there are any number of excellent reasons to have an environmental conscience; everyone is motivated by their own personal experience and philosophy. Find your own reason to act responsibly. Ralph Benzakein, LEED AP is the vice president of CresaPartners, Melville, N.Y.
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.