If you build it (green) they will come - and they did!

Building green and the positive results, as he visualized them, was surely the thought persisting in the mind of Larry Silverstein president of Silverstein Properties, when he set about rebuilding 7 World Trade after it burned all day of 9-11. Only weeks before 9-11-2001 Silverstein Properties acquired the World Trade Center. 7 World Trade Center was previously built by Silverstein Properties. The newly built 7 World Trade was opened in May of 2006. It is the first LEED-certified building to be constructed in New York City. Silverstein has plans to build three additional LEED-certified towers at the World Trade Center site. The problem being that the rest of the depressed real estate industry thought Silverstein was very foolish, when no one was building and not one of them was renting very much. The word was, not to build since no one was renting or buying. Certainly not to put more money in a rebuild making it green when there was no business. Silverstein thought differently. Yes, Silverstein Properties is speeding along with the additional World Trade rebuild. However, he is presently in arbitration with the Port Authority since their ideas and his private enterprise goals are so diametrically opposed. Naturally as a forward thinking entrepreneur, Silverstein's methods are "full speed ahead, the Port Authority, merely adjusts their schedules to suit any delays and if costs increase the Port adjusts its budget accordingly." This is totally unacceptable to Silverstein and presently the situation is in arbitration, when the arbitration board has considered all aspects and read all of the documentation, the much awaited rebuilding will continue. With all of these setbacks with the Port Authority, and with the economy so devastating to the Real Estate industry, disappointing all of us that are so anxious to see the rebuild of the World Trade Center site, what Silverstein has done in the rebuild of 7 World Trade is not only remarkable, but more than exciting to those of us involved in green buildings. He has proven his vision was correct, green buildings are the future of real estate. They are more beautiful inside and out, they are safer, they are sturdier, they rent quicker than conventional buildings and they save the tenants money due to their alternative energy use. Except for those of us that are involved in the design and construction industry most of the population of New York is not "aware" of what makes a green building "green" and how it works. Most importantly, we are vitally interested in how making a building green affects the actual business aspects of the real estate as compared with standard construction. Silverstein's vision and its outcome, 7 World Trade Center, prove how much more quickly green buildings are rented, how renters benefit in the long run with lower energy costs, better safety if any other disasters occur, use of sunshine all day long within the design of the office suites. There are many more green additions that most of us have no idea are there. Just some examples: * Safety systems exceed the city's building codes * Energy efficient, ultra clear, full length glass windows * Specially commissioned glass façade animated by light and changing color with the day and reflecting programmed LED projection sequences by night * Two foot thick reinforced concrete core * Enhanced fireproofing material * Efficiency filters * High performance fresh air intake 45-foot column-free spans, high ceilings and stunning views from everywhere * Above standard electrical capacity and back-up power systems * New generation HVAC systems and plumbing systems * Exit stairs 20% wider Beauty and art has not been overlooked. The lobby has 45 foot high glass and marble throughout. Art installation by Jenny Holzer and the outside space devoted to a lovely park contains a sculpture by Jeff Koons. The artwork over the reception desk of the building is by Jane Holzer telling facts about New York to those entering the building. Most importantly, especially in today's economy is the business aspect of taking this enormous chance. The building is presently 85% rented. Silverstein began renting a bit lower than market rates. The last tenant renting West B, one of Germany's leading financial institutions, is at premium market rate per s/f. Other illustrious tenants are Moody Corporation, the Ameriprise Financial, New York Academy of Sciences, Mansueto Ventures, publishers of Fast Company and Inc. magazines many of the tenants have never come this far downtown. This building and other green buildings have proven that green buildings not only rent quicker, but also keep overhead lower for the tenants over the years due to the green additions. Silverstein Properties and its president Larry Silverstein have proven it all. Barbara Parker is president of Green Fox Communications, New York, N.Y.