The "Green" Dilemma: Is it Worth It?
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I ran across an article by Diane Mastrull of The Philadelphia Inquirer that does a nice job of capturing the dilemma facing owners and managers of existing office space when it comes to going "green"; namely, does the ROI justify the expense? A couple of things about the article caught my eye in particular:
- According to green-building advocates, in the last few years employers have reported a growing number of job applicants asking about workplace-sustainability efforts. Really? This surprised me given the employment climate over the last couple of years. Has sustainability become an employment deal-breaker? If anybody can point me to studies on this issue, I would be much obliged.
- One of the owners profiled in the article -- APF Properties -- started out wanting to pursue a silver LEED rating upon purchasing 1601 Market Street (managed by Cushman & Wakefield's Philadelphia office) but quickly had to downgrade to qualifying for LEED certification to start given the fact that $200k in capital improvements would be needed to seek a silver rating.
- Developer Donald Pulver, of the Oliver Tyrone Pulver Corporation, which has built a mini-empire of office space along the Schuykill River and otherwise has an impressive portfolio, does not see the upside to LEED certification, indicating that "what you get versus what you pay was not worth it to us."
MY TAKE: the song remains the same. Green building is laudable across the board and can serve as a point of distinction for purposes of marketing and rent. However, most owners of existing office space will be reluctant participants unless and until the ROI outweighs the cost. This will be especially true when Class C properties are involved.
HOW IT WORKS: A Vertical Garden is composed of 3 parts: a metal frame, a PVC layer and felt. The frame is hung on a wall or can be self-standing. It provides an air layer acting as a very efficient thermic and phonic isolation system. A thin PVC sheet is then riveted on the metal frame. This layer brings rigidity to the whole structure and makes it waterproof. After that comes a felt layer that is stapled on the PVC. The felt is corrosion-resistant and allows for uniform water distribution. Watering is provided automatically, 4-5 times a day, through a drilled hose running along the top of the Vertical Garden. Since there is no soil involved, the water must be supplemented w/ low concentrated nutrients through an automatic device..jpg)
While a Vertical Garden can be of any dimension, it would seem that the highest return would be found w/ a larger building. Obviously, not every type of building would be a good fit, as I doubt that a "big box" would want a garden growing on the side of the building, but I would think that a mid-rise office or multi-family building would work, as would certain retail and public buildings.