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Cascadia Green Building Value Initiative
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The Green Building Finance Initiative is a program that seeks to engage the real estate appraisal, lending and investment community and explore ways to effectively and accurately communicate the value of high performance green buildings within Cascadia (OR, WA, and BC). The participating partners in this initiative are Cascadia Region Green Building Council, Earth Advantage, NW Ecobuilding Guild, WA Department of Ecology, Built Green, Lighthouse Sustainable Building Centre and Evergreen Community Development. The first project of the initiative is to research whether the private market places a higher monetary value on both commercial and residential green buildings in Cascadia. Research findings will be released in April 2008 at Cascadia’s Living Future 08 conference in Vancouver, BC. This site will serve as a place to find the status of this research as well as other resources regarding the engagement of the real estate finance and investment community in high performance green building.
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Articles
-by Timothy R Lowe and Theddi Wright Chappell, from "PREA Quarterly," Summer 2007
- The Value of Green
-by Theddi Wright Chappell, Originally printed in Globe Street Retail, June 6, 2006. - The Sustainability Matrix
- -by Sustainability Resources and The David and Lucile Packard Foundation, October 2002.
- Does Green Pay Off?
- by Norm Miller, Jay Spivey, and Andy Florance, November 19, 2007.
- Capital Markets Lag Behind Green Buildings
-by Dan Winter, Sustainable Industries, April 29, 2007. - As Green as the Grass Outside
-by Charles Lockwood, Barron's, December 25, 2006. - CoStar Study Finds Energy Star, LEED Bldgs. Outperform Peers
-by Andrew C. Burr, CoStar Group, March 26, 2008. - CoStar Green Study Slideshow
-A pdf slideshow presenting the findings of the CoStar Green Study. - Green Building
-by Walcia Konrad, Fast Company Magazine
Reports
- PRI Green Bulletin, July 2007
- The NEW Industrial Revolution- The Value of Green
-by Theddi Wright Chappell
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The Cost of Green Revisited
-by Lisa Fay Matthiessen/ Peter Morris - Vancouver Valuation Accord
-Vancouver Valuation Accord, March 2, 2007 - Vancouver Valuation Accord - Forum Summary & Work Plan
-Vancouver Valuation Accord - The Energy Challenge: A New Agenda for Corporate Real Estate
-by Rocky Mountain Institute and CoreNet Global, April 2007. - NAIOP Green Building Finance Consortium
-Evolution Partners Speaker Event - Special Considerations in the Valuation of Sustainable Properties
-by Timothy R. Lowe and Theddi Wright Chappell, Pension Real Estate Association (PREA), Summer 2007. - Canada can get rich by going green
-CBS News Transcript, January 16, 2007. - GBFC's Quantifying Green Value: Assessing the Applicability of the CoStar Studies
-Green Building Finance Consortium
Whitepapers
Funds
RESOURCES
GreenBuilding Finance Consortium Glossary of Words and Phrases
A dynamic, working list compiled by the Consortium. It is continually being updated with new words and phrases relevant to the interdisciplinary field of green building finance.
The Green Building Finance Consortium (GBFC) is a group of leading corporations, real estate companies, and trade groups who have joined together to address the need for independent research and analysis of investment in Green or energy efficient buildings.
Vancouver Valuation Accord
The Vancouver Valuation Accord is a response to the evolving importance of sustainability and the need for its implications to be understood in valuations and appraisals. It is a commitment to review sustainability and valuation, including education, standards and practices, with the aim of improving understanding of their relationship.
suggested organisations for comment period
Wells Fargo has funded a lot of LEED commercial projects and has an Environmental Advisory dept that may have grant money available.
Barry C Wilson, Lamb-Hanson-Lamb Appraisal, also VP of Appraiser's Coalition of Washington www.acow-wa.org. Tel:206-838-1233 Direct. Email: bwilson@lambhansonlamb.com
They are interested in booking three building green CE classes of 3 hours each at their next annual meeting, which is in conjunction with a quarterly meeting of the Real Estate Appraiser Commission. They do not want to compete with the 7-15 hour classes offered by their professional organizations, but the 3 hour class can be a “teaser” for a 1 or 2 day presentation.
Robbi Currey of racurrey@mccabeappraisal.com Tel:- Fife branch of National Association of Independant Fee Appraisers (NAIFA)
Appraisal Institute www.appraisalinstitute.org controls the standards and designations. It also has a lot to do with class approval
Appraisal Commission in Washington www.dol.wa.gov/business/appraisers/appcommission.html
National Association of Independent Fee Appraisers www.naifa.com, Regional Governor Randy Shervey IFA, Galdstone, OR 503-655-6194 rshervey@pnnw.net
E & R Trust = NAIFA Eduacation and Research Trust to provide support & funds for compelling & groundbreaking education
Lincoln Graduate Center - 800-531-5333 San Antonio. They are the leader in providing pre and continuing educational to appraisal industry - the official education provider of NAIFA
ShoreBank Portland - Dave Williams, President 503-916-1552
ShoreBank Enterprise, Ilwaco, WA (501) 3C - recently merged with Cascadia Revolving Fund - micro funding of small businesses with green emphasis. Larry Baker 360-642-4265
Banner Bank - i will provide the contact name later
Intl Association of Assessing Officers. Jean Spiegel education coordinator spiegel@iaa.org
The Appraisal Foundation sponsors American Society of Appraisers 800-478-VALU www.appraisers.org
value initiative potential contacts
Seattle Chapter of the Appraisal Institute -- Jim Greenleaf, 206-621-0504
The Athena Institute- P.S. Reilly, 206-686-9330
Oppenheimer Funds, Brian Rayfield- brian.rayfield@opco.com
Other orgs. to participate in GBVI
Washington Bankers Association
BC Bankers Association (Does this exist?)
American Appraisal Institute
Vancity
Partners