News
Mandatory Green
December 13, 2010
| With the City of Dallas’ Green Building Program requiring all new commercial construction be LEED-certifiable starting Oct. 1, developers are paying attention. We're guessing pine needles from the Christmas tree have a one-way ticket to the mulch pile. | |
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| We caught up with Granite Properties development manager Aaron Bidne in his Plano office for a preview of Bisnow's Sustainability Summit this Wednesday where he'll be a panelist. He says Granite leadership anticipates three underwriting variables that could help a green building add value: cap rate compression, higher rental rates, and faster stabilization. Unfortunately, he tells us, they haven't really proven out because just as the market started to develop LEED-certified building stock, the economy crashed. Overall, the firm is a real estate investor developing properties and acquiring sites: "We’re our own property management group, we have our own leasing group, and our approach to sustainability is all encompassing." | |
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| Aaron says Granite’s most recent high-profile project is 17Seventeen McKinney, which is the first core and shell high-rise office building to be awarded LEED Gold in the Southern US. Granite has five LEED existing building designations and three more in process right now. 17Seventeen opened in May in a JV with Gables Residential. Aaron says he’s looking forward to hearing how Behringer Harvard’s Michele Langenberg underwrites deals. What is BH’s approach and what goes into their decision-making process, he says. You curious, too? Come hear the experts at our Dallas Sustainability Summitthis Wed, Dec. 15. Register now. And, if you get a chance, ask Aaron if he nabbed any pheasants on his last hunt. | |
