An increasing number of building owners, developers, architects, engineers, and consultants are employing green building design and construction practices to reduce or eliminate negative effects on the environment, according to a recent survey by New-York based Turner Construction Co. About 93% of the respondents anticipate an increase in their green building activities in the next three years. Out of that percentage, about 51% expect a substantial increase in their green building workload, while 42% anticipate a slight increase. The survey also found that almost one-third of those executives whose companies aren't currently involved with a green building project expect to work on one in the next three years.
While green buildings may carry higher upfront costs, they often have reduced long-term operating expenses. Almost three-quarters of the executives who are involved with green buildings stated that these buildings generated a higher return on investment than others. The majority of respondents also reported that green buildings outperform non-green buildings in the following categories: health and well-being of occupants, building value, worker productivity, return on investment, asking rents, and occupancy rates (Chart below).
Despite the reported benefits of green building, several factors are slowing down widespread adoption. About 70% of the executives consider perceived higher construction costs as the main obstacle to growth in the green building sector followed by a lack of awareness regarding the benefits of green building and short-term budget horizons.