Abstract
With the current dearth of affordable housing throughout the United States, many municipalities are offering incentives to landlords retrofitting non-residential properties to residential ones. However, a corporate landlord looks at real estate as a business venture, albeit real estate as the asset class. In that regard, the ROI drives the landlord more than anything else. However, in today’s real estate development climate, when a commercial building retrofit is envisioned, there will typically be an overlay of sustainable building components that would be incorporated into the reborn structure. Sustainable Affordable Housing can therefore be a marriage between a green building and residences in the building that are economically manageable for most of the population. The key to making this a long-term successful marriage however, is not merely retrofitting a property with sustainable elements, but also having residents comply with green building protocol. The well-constructed sustainable project needs to be operated in a holistic fashion, and although economics are important, certain resident behaviors will, and in many cases, need to be modified. In 2025, this is not an aspirational concept, but an achievable one. The key is a full understanding what (i) sustainable building is, (ii) what affordable housing looks like, and (iii) how to achieve both in one property. The way to make this happen is compliance with law and housing rules and regulations and the conclusion of my discussion.
Presenters
Richard J. SobelsohnAdjunct Professor of Law, LEED AP, GGP, Real Estate, Brooklyn Law School, New York, United States
Details
Presentation Type
Theme
KEYWORDS
Affordable Housing, Sustainable Development, Green Building
