Abstract
The US Green Building Council’s (USGBC) mission is to secure a prosperous, healthy, and sustainable future and their Leadership in Energy and Environmental Design (LEED) is the foremost program worldwide for the design, construction maintenance, and operation of green buildings. Prior national research supports that LEED certification enhances the value of single-family residences, multifamily apartments, and commercial office space, but no research addresses the local impact of certification on multifamily apartments. This study of 100 apartments finds LEED certification statistically adds a rent premium of $0.13 per sq. ft. and a capitalized value between $22 per sq. ft. and $31 per sq. ft. to multifamily commercial properties in downtown Denver, CO.
Presenters
Perry WisingerVisiting Scholar, Accounting, Florida State University, Florida, United States
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
Economic, Social, and Cultural Context
KEYWORDS
SUSTAINABILITY, LEED, CERTIFICATION, LOCAL-VALUE, PREMIUM, COST-BENEFIT, HOUSING, REGRESSION-MODEL
