Study: More Apartments, Condos Go Green
More of the nation’s apartments and condominiums are going green as multifamily builders and developers respond to growing consumer interest in sustainable building practices, according to a recent survey by the National Association of Home Builders.
Steve Patterson, chairman of NAHB’s Multifamily Leadership Board and an apartment and condo developer from Orlando, Fla., noted, “With today’s heightened consumer interest in green, multifamily builders are embracing more green and recyclable products, and are more willing to invest in energy efficiency.”
In the survey, which polled multifamily builders and developers nationwide on their green building practices, 89 percent of respondents reported that they are installing energy-efficient appliances and lighting in their multifamily communities. The survey also found that 50 percent are using significantly more insulation than required by building codes - a number that rises to 70 percent of West Coast respondents.
While a majority of the survey respondents - 74 percent - said that renters and condo buyers are willing to pay more for green amenities, the median additional amount they are willing to pay is only about 2 percent.