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WHY SUSTAINABLE BUILDINGS
ARE THE FUTURE OF REAL ESTATE
SBy Brittany Benz, Appfolio
ustainable building infrastructure and green technologies have been gaining traction in recent years, and now they are leading an entirely new era of real estate. More and more developers, property management businesses, and property owners are
seeing the value sustainable buildings can bring, not just for the environment, but for their residents and bottom-line.
In addition, global initiatives are further accelerating the implementation of green infrastructure and energy efficient technologies. Recently, President Biden announced a new target for the United States to achieve a 50-52% reduction from the 2005 labels in economy-wide net greenhouse gas pollution by 2030, and cities are following suit, as New York passed Local Law 97, which requires large buildings to reduce their carbon emissions by 40% by 2030 and 80% by 2050.
But what does all of this mean for property management businesses and property owners? To explore this topic in more detail, we recently heard from James Scott, lead researcher of MIT’s
CS-8 AUGUST 2021 - APARTMENT MANAGEMENT MAGAZINE
real estate innovation lab, at the AppFolio Wave Summit. During his session he talked about some of the emerging technologies and innovations that are being implemented in today’s buildings to promote sustainability, efficiency, and productivity.
Below we’ll recap some of the key highlights and take a deep dive into how the learnings can be leveraged to help multifamily and single-family property management operators and owners prepare for the future.
“A sustainable building is the property’s overall ability to provide a comfortable, healthy, and productive environment over the long term, without really negatively impacting the environment.”
WHAT MAKES A SUSTAINABLE BUILDING?
When it comes to what makes a sustainable building, it’s so much more than just the property itself. Please turn to page CS-10