News: Rhode Island

Caldwell of Caldwell and Johnson testifies in D.C.

A familiar voice was raised in favor of U.S. Senate Bill 1379, the Energy Efficiency in Housing Act of 2009, on June 30th as David Caldwell Jr. of Caldwell and Johnson Inc., a leading "green" builder and remodeler in Rhode Island and a member of the Rhode Island Builders Association's board of directors, testified on Capitol Hill. Caldwell testified before the Senate Banking, Housing and Urban Affairs Subcommittee on Housing, Transportation and Community Development at the request of Sen. Robert Menendez (D-N.J.). The bill itself was sponsored by Sen. Sheldon Whitehouse (D-R.I.), who suggested that Caldwell testify. Highlights of the Energy Efficiency in Housing Act of 2009 include: * Jumpstarting the market for "green" mortgages that reflect the financial savings of energy-efficient and location-efficient homes, * Requirements that energy costs be considered in appraisals, * A revolving loan fund to states to fund renewable energy upgrades, * A provision to collect data on energy-efficient and location-efficient mortgages, and * Establishing "green" banking centers to educate the public about the financial options and benefits for energy conservation. Caldwell is co-chair of the Advocacy Committee of the Rhode Island Green Building Council, and is a leading advocate and educator in Rhode Island in the field of green technology and construction. During his testimony, Caldwell spoke in strong support of the bill, citing his own experience in green building. He testified that green building and remodeling can be an economically viable business model, a means by which homeowners can dramatically save money through reducing utility costs, and be very environmentally beneficial. "In effect, the Energy Efficiency in Housing Act is that rare issue on whose merits everyone can agree," Caldwell said. Caldwell told the subcommittee that, while everyone agrees that green homes can save money, lenders currently are unwilling to consider the long-term savings involved and are reluctant to use energy-efficient mortgage products because they tend to involve more work. He recommended that lenders be required to give consumers more information on their options for an energy-efficient home, as "people get more information when they purchase a box of cereal than they do when they buy a house." The legislation is supported by a diverse group of organizations from the shelter industry, such as the National Association of Home Builders, as well as such non-profit public interest organizations as the U.S. Green Building Council. For more information on the bill, visit www.govtrack.us/congress/bill.xpd?bill=s111-1379. Paul Eno is the owner and editor-in-chief of New River Press, Woonsocket and is the editor of the monthly RIBA newsletter, The Rhode Island Builder Report.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary