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Is the green-building market recession-proof?

Post Time:Mar 23,2009Classify:Industry NewsView:107

Over the last decade, the green building industry has risen on the tide of a culture-wide trend toward sustainability, and many in the architecture profession believe it will continue to prosper even as the U.S. falls deeper into a recession. “I think there’s a very compelling argument that the economic environment we’re going into right now will only enhance the value of doing green,” says Guy Geier, FAIA, senior partner of FXFOWLE.

A Turner Construction Co. survey conducted in November seems to confirm his hunch: Seventy-five percent of more than 750 real estate executives surveyed said the credit crunch would not make them any less likely to construct green buildings in the future. Moreover, a 2009 report by McGraw-Hill Construction found that the green-building market “seems to be somewhat insulated” from the construction slump. Reasons cited for the market’s stability include increased awareness that green buildings are often cheaper to operate, and governmental policies that promote or even mandate eco-friendly features.

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Source: http://www.glassmagazine.com/news-item/commercial/is-green-building-market-recession-proofAuthor:

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