News: Green Buildings

Structure Tone survey shows sustainable building practices are still seen as cost-prohibitive

Boston, MA A recent study by construction management firm Structure Tone finds that while much more common than in years past, sustainable building practices are still seen as cost-prohibitive by many building and real estate leaders.

The anonymous survey, which was sent to a select group of senior corporate real estate and facilities management professionals, was intended to take a snapshot of sustainability in practice across the real estate community. Questions centered on participants’ opinions on third-party certification systems like LEED, challenges to building green, and the newer pressures of climate change resilience and wellness in the built environment.structure-stone-top-five-findings

The responses, collected informally and not as a scientific sampling, illuminated several key points:

1. Sustainability is more commonplace but still seen as cost prohibitive: 66% of respondents reported incorporating green features to lower operating costs and 36% are looking to eliminate red-list building materials, but upfront costs are still seen as the #1 hindrance to true sustainability.

2. LEED is still the most prevalent program but others are growing. 8% of respondents plan to do a Living Building Challenge within the next two years.

3. Resiliency is a growing concern. 59% reported they are seeking outside expertise in resilient building.

4. Employee wellness is also a rising factor. 95% consider wellness essential, expected or emerging in the built environment. Leadership (44%) and the millennial generation (40%) are seen as driving this new focus and reported attracting and retaining employees as the #1 reason for the growing interest.

“Now that sustainability is well established in our industry and resilience and wellness are increasingly being included in that conversation, we really wanted to take the real-life pulse of how much these issues affect our clients’ decision making,” said Jennifer Taranto, director of sustainability at Structure Tone. “While the findings aren’t necessarily surprising, they definitely indicate a shift in priorities when it comes to holistic, sustainable building across the real estate development community.”

Structure Tone’s sustainability team plans to conduct the survey on an annual basis. The hope is that as building practices and contextual circumstances change over time, the report can help detect and analyze the resulting trends and what impact they may have on the present and future state of sustainable building.

Copies of the full report are available by contacting Taranto at Structure Tone.

Structure Tone is a global leader in construction management and general contracting services with offices located in the US, UK, and Ireland. Founded in 1971, the company is among the world’s top 20 construction companies worldwide, with over 1,600 employees and more than $3.5 billion in annual construction volume. The organization comprises six companies who operate independently: Structure Tone, Inc., Structure Tone Southwest, Inc., Structure Tone International, Inc., Pavarini Construction Co., Inc., Pavarini McGovern, LLC, and LF Driscoll Company, LLC. 

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