Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091781_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kwame Addae-Dapaah Author-X-Name-First: Kwame Author-X-Name-Last: Addae-Dapaah Author-Name: Liow Kim Hiang Author-X-Name-First: Liow Kim Author-X-Name-Last: Hiang Author-Name: Neo Yen Shi Sharon Author-X-Name-First: Neo Yen Shi Author-X-Name-Last: Sharon Title: Sustainability of Sustainable Real Property Development Abstract: The paper investigates commercial buildings users' perception of the benefits of green buildings and how this perception influences their decision to occupy and/or invest in them. A survey of 400 commercial real estate users in Singapore reveals that they are aware of, and appreciate the benefits of green buildings. However, they are not willing to occupy and/or invest in green buildings as they are concerned with monetary returns. Price, reliability, and effectiveness of green features, as well as apathy towards environmental issues, are impeding the sustainability of sustainable commercial real estate in Singapore. Notwithstanding, since it was found that cost saving and higher property value benefits statistically influence respondents' willingness to invest in, or occupy green buildings, turning the sustainability advocacy into realistic economic advocacy could ensure sustainability of sustainable real estate development. Journal: Journal of Sustainable Real Estate Pages: 203-225 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091781 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091781 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:203-225 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091782_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: The Journal of Sustainable Real Estate Journal: Journal of Sustainable Real Estate Pages: fmi-fmxvi Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091782 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091782 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:fmi-fmxvi Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091783_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Norm Miller Author-X-Name-First: Norm Author-X-Name-Last: Miller Author-Name: Dave Pogue Author-X-Name-First: Dave Author-X-Name-Last: Pogue Author-Name: Quiana Gough Author-X-Name-First: Quiana Author-X-Name-Last: Gough Author-Name: Susan Davis Author-X-Name-First: Susan Author-X-Name-Last: Davis Title: Green Buildings and Productivity Abstract: Healthier space need not be new space. In fact, some new buildings are extremely unhealthy as chemicals leach out into the air from glues, carpets, concrete, and paint. There is no reason this must be the case. The cost to provide healthier environments is modest compared to the benefits. Healthier buildings reduce sick time and increase productivity, making it easier to recruit and retain employees. The results provided here are based on a survey of over 500 tenants who have moved into either LEED or ENERGY STAR-labeled buildings managed by CB Richard Ellis (CBRE). It is part of a much larger study that includes details on operating expenses, leasing, and management available from the authors or www.josre.org. Journal: Journal of Sustainable Real Estate Pages: 65-89 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091783 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091783 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:65-89 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091784_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Simons Author-X-Name-First: Robert Author-X-Name-Last: Simons Author-Name: Eugene Choi Author-X-Name-First: Eugene Author-X-Name-Last: Choi Author-Name: Donna Simons Author-X-Name-First: Donna Author-X-Name-Last: Simons Title: The Effect of State and City Green Policies on the Market Penetration of Green Commercial Buildings Abstract: Pro-green building policies originated in the not-for-profit sector, and have worked their way into public policy since their inception in the early 1990s. These policies generally include Leadership in Energy and Environmental Design (LEED) for new construction and ENERGY STAR for ongoing building operations. Additional policy at the state and local level are present, and take many forms, including: (from weak to strong) blandly supporting these two main green paradigms; suggesting guidelines without teeth; leading by example with green public buildings; providing financial incentives; and mandating green outcomes by a certain date. The main question addressed in this research is: How do these policies affect the market penetration of green buildings in various commercial markets throughout the United States? Journal: Journal of Sustainable Real Estate Pages: 139-166 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091784 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091784 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:139-166 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091785_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Christopher Choi Author-X-Name-First: Christopher Author-X-Name-Last: Choi Title: Removing Market Barriers to Green Development: Principles and Action Projects to Promote Widespread Adoption of Green Development Practices Abstract: This paper examines how the market may intentionally or unintentionally create barriers to green development practices. It also offers ideas and recommendations for those who build, finance, and are in positions to approve or support green development in all our communities on how to eliminate these barriers to begin making green development the norm rather than the exception. Journal: Journal of Sustainable Real Estate Pages: 107-138 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091785 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091785 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:107-138 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091786_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2009 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Sustainable Real Estate Pages: bmi-bmxxi Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091786 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091786 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:bmi-bmxxi Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091787_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Richard Reed Author-X-Name-First: Richard Author-X-Name-Last: Reed Author-Name: Anita Bilos Author-X-Name-First: Anita Author-X-Name-Last: Bilos Author-Name: Sara Wilkinson Author-X-Name-First: Sara Author-X-Name-Last: Wilkinson Author-Name: Karl-Werner Schulte Author-X-Name-First: Karl-Werner Author-X-Name-Last: Schulte Title: International Comparison of Sustainable Rating Tools Abstract: This paper undertakes an international comparison of global sustainability tools and examines their characteristics and differences. Most importantly, it focuses on which tools from different countries can be directly compared with each other (i.e., is a five-star building with one rating system directly comparable with a four-star rating of another rating system?). The results are designed to provide some clarification of the assessment tools for sustainable buildings, which in turn will assist investors, developers, tenants, and government bodies in making informed decisions about green buildings. In addition, it is envisaged that removing some of the uncertainty associated with sustainable buildings will increase transparency for stakeholders and facilitate their acceptance. Journal: Journal of Sustainable Real Estate Pages: 1-22 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091787 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091787 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:1-22 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091788_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Rob Watson Author-X-Name-First: Rob Author-X-Name-Last: Watson Title: Industry Insight: The Green Building Impact Report 2008 Journal: Journal of Sustainable Real Estate Pages: 241-243 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091788 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091788 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:241-243 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091789_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: Effect of LEED Ratings and Levels on Office Property Assessed and Market Values Abstract: This study examines the effect of Leadership in Energy and Environmental Design (LEED) ratings and certification levels on Assessed (AV) and Market Values (MV), while controlling for a property's characteristics and its location. The overall dataset was developed by combining information from CoStar Group, U.S. Green Building Council (USGBC), and local Assessors/Treasurer. The results indicate that ENERGY STAR designation increases AV and MV substantially. The effect of LEED rating/level on both of these values (AV and MV) can be differentiated based on the level of geographic aggregation. LEED-Existing Building (EB) designation at the Gold level has a strong positive effect on AV, while LEED-EB at the Silver level has a similar effect on both AV and MV. This effect is absent among all LEED-EBs, when controlling only for MSAs. LEED-New Construction at the Gold level has a strong positive effect on MV, while LEED-Core & Shell at the Gold and Silver levels almost doubles that effect on AV, when controlling for MSAs. Journal: Journal of Sustainable Real Estate Pages: 23-47 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091789 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091789 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:23-47 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091790_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jerry Jackson Author-X-Name-First: Jerry Author-X-Name-Last: Jackson Title: How Risky Are Sustainable Real Estate Projects? An Evaluation of LEED and ENERGY STAR Development Options Abstract: Recent empirical evidence on rent and occupancy premiums associated with sustainable buildings is used to evaluate risks and returns associated with green real estate development projects. Green building premium estimates are derived from four recent empirical studies while incremental green construction costs are based on a review of existing literature. Monte Carlo analysis is applied to determine the expected return and risk associated with two green building certifications. Findings reveal a mean internal rate of return for Leadership in Energy and Environmental Design (LEED) buildings of 126% with a 10% probability of achieving an IRR of 50% or less. Buildings with an ENERGY STAR certification achieve a mean IRR of 140% with virtually no probability (1.6%) of achieving an IRR less than 50%. Journal: Journal of Sustainable Real Estate Pages: 91-106 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091790 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091790 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:91-106 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091791_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Christoph Rohde Author-X-Name-First: Christoph Author-X-Name-Last: Rohde Author-Name: Thomas Lützkendorf Author-X-Name-First: Thomas Author-X-Name-Last: Lützkendorf Title: Step-by-Step to Sustainable Property Investment Products Abstract: The interest in more sustainable properties has risen strongly in the recent past. There has been a shift from anecdotal evidence to well-documented case studies and comparative analyses indicating that sustainable building is highly profitable. The development and provisioning of sustainable property investment products and related consulting services offers a major opportunity for property professionals to increase financial returns, as well as their standing within society and the business world. Yet, this opportunity remains largely untapped due to various reasons. This paper sets out a strategy for the development, implementation, and widespread dissemination of sustainable investment products (sustainable property funds) for the property industry. This is seen as an additional and potentially powerful approach to stimulate demand for sustainable buildings. Journal: Journal of Sustainable Real Estate Pages: 227-240 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091791 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091791 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:227-240 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091792_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jason Tuomey Author-X-Name-First: Jason Author-X-Name-Last: Tuomey Title: Personal Perspectives on LEED Management and Investment Journal: Journal of Sustainable Real Estate Pages: 245-254 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091792 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091792 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:245-254 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091793_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Franz Fuerst Author-X-Name-First: Franz Author-X-Name-Last: Fuerst Author-Name: Patrick McAllister Author-X-Name-First: Patrick Author-X-Name-Last: McAllister Title: An Investigation of the Effect of Eco-Labeling on Office Occupancy Rates Abstract: This paper investigates the effect of eco-labeling on the occupancy rates of commercial offices in the United States. The occupancy rates of LEED and ENERGY STAR-labeled offices are compared to a sample of non-labeled offices. Using OLS and quantile regression analyses, a significant positive relationship is found between occupancy rate and the eco-label. Controlling for differences in age, height, building class, and quality, the results suggest that occupancy rates are approximately 8% higher in LEED-labeled offices and 3% higher in ENERGY STAR-labeled offices. However, for ENERGY STAR-labeled offices, effects are concentrated in certain market segments. Journal: Journal of Sustainable Real Estate Pages: 49-64 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091793 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091793 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:49-64 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091794_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: John Goering Author-X-Name-First: John Author-X-Name-Last: Goering Title: Sustainable Real Estate Development: The Dynamics of Market Penetration Abstract: This paper uses three different data sources to examine the rate of growth of sustainable development practices. Research analyses of the economic outcomes of green building are linked to short case studies of green building in New York. The concluding data address macro level limitations on the rate of diffusion and acceptance of green building technologies and costs. Limited and recent governmental policies are suggested as the core method to increase the rate at which green building becomes a national rather than an exclusive and limited method of growth. The preliminary nature of these data sources and analytic methods suggest the need for far more research and evaluation studies on the causes and outcomes of sustainable development in the United States. Journal: Journal of Sustainable Real Estate Pages: 167-201 Issue: 1 Volume: 1 Year: 2009 Month: 1 X-DOI: 10.1080/10835547.2009.12091794 File-URL: http://hdl.handle.net/10.1080/10835547.2009.12091794 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:1:y:2009:i:1:p:167-201 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091795_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Timothy Runde Author-X-Name-First: Timothy Author-X-Name-Last: Runde Author-Name: Stacey Thoyre Author-X-Name-First: Stacey Author-X-Name-Last: Thoyre Title: Integrating Sustainability and Green Building into the Appraisal Process Abstract: Sustainability's key concepts and impacts on real estate valuation have been largely sidestepped to date. Sustainability and green building require the appraiser to recognize the influence of a new market force (sustainability) and understand a new set of property characteristics (green features). These elements are market-specific and change rapidly. This article discusses sustainability and its relevance in real estate valuation. In addition, green building criteria are offered so that green features can be analyzed. The concept of sustainability and the relative "greenness" of a property are then brought together into a three-step Sustainability Valuation Model that can be used to guide the appraiser in valuing real property—green and brown—now and as market conditions with respect to sustainability change. Journal: Journal of Sustainable Real Estate Pages: 221-248 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091795 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091795 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:221-248 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091796_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Scott Anders Author-X-Name-First: Scott Author-X-Name-Last: Anders Title: Reducing Greenhouse Gases from Buildings in the San Diego Region: An Analysis of Local Government Policy Options Abstract: This paper evaluates a range of policies within local government authority to reduce greenhouse gas (GHG) emissions from electric and natural gas use associated with buildings. San Diego County is used as a case study because significant work already has been completed to characterize regional emissions. Within San Diego County, GHG emissions associated with buildings constitute about 30% of total emissions. It appears that statewide building and appliance standards and utility-administered efficiency incentive programs combined with local government policies could reduce emissions enough to meet California's 2020 greenhouse gas targets as applied to the San Diego region; however, to reach long-term targets that seek to cut emissions significantly below 1990 levels by 2050, more aggressive policies would be needed. Journal: Journal of Sustainable Real Estate Pages: 269-303 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091796 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091796 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:269-303 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091797_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Pernille Christensen Author-X-Name-First: Pernille Author-X-Name-Last: Christensen Author-Name: Elaine Worzala Author-X-Name-First: Elaine Author-X-Name-Last: Worzala Title: Teaching Sustainability: Applying Studio Pedagogy to Develop an Alternative Post-Hurricane Housing Solution Using Surplus Shipping Containers Abstract: This paper illustrates the use of studio teaching as a technique for promoting an interdisciplinary approach to teaching students about sustainability. It emphasizes an iterative decision-making process to help students think 'outside the box' when exploring sustainable solutions. The paper focuses on a particular case adopted by a combined studio of architecture and landscape architecture students to help provide sustainable housing solutions for post-hurricane victims. The studio format provides a student-centered learning environment where students, faculty, and industry professionals work together to propose alternative post-disaster housing and community restoration strategies. The students gained a heightened understanding of the need to address global challenges in an interdisciplinary manner, which is key for solving sustainability problems. Journal: Journal of Sustainable Real Estate Pages: 335-360 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091797 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091797 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:335-360 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091798_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Steven Laposa Author-X-Name-First: Steven Author-X-Name-Last: Laposa Author-Name: Andrew Mueller Author-X-Name-First: Andrew Author-X-Name-Last: Mueller Title: Wind Farm Announcements and Rural Home Prices: Maxwell Ranch and Rural Northern Colorado Abstract: This study examines the announcement affect of a proposed wind farm development on an 11,000-acre ranch in Northern Colorado on surrounding rural housing prices. This study analyzes 2,910 single-family home transactions in two rural census tracts adjacent to the proposed wind farm prior to, and after the wind farm announcement. The results account for the timing of the announcement in March 2007, which coincided with the beginning of national and regional housing price declines, and still shows insignificant and minimal impacts to surrounding home values and sales, adjusted for the economic recession, after the announcement. Journal: Journal of Sustainable Real Estate Pages: 383-402 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091798 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091798 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:383-402 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091799_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kwame Addae-Dapaah Author-X-Name-First: Kwame Author-X-Name-Last: Addae-Dapaah Author-Name: Tham Kok Wai Author-X-Name-First: Tham Kok Author-X-Name-Last: Wai Author-Name: Mohd Jaafar Bin Dollah Author-X-Name-First: Mohd Jaafar Author-X-Name-Last: Bin Dollah Author-Name: Yvonne Foo Author-X-Name-First: Yvonne Author-X-Name-Last: Foo Title: Indoor Air Quality and Office Property Value Abstract: Urbanization and technological advancement have resulted in many urbanites working in window-sealed high-rise office buildings. Many researchers have found that indoor air quality (IAQ) affects tenantlandlord relationships, workers' health and productivity, and building elements and systems. This may imply that IAQ could affect, positively or negatively, the value of buildings. This paper examines the impact of IAQ on the value of office buildings in Singapore. The results show that the return on investment in IAQ could be substantial (78.56%) while property values could increase by 1.28% to 3.85%. The findings could be of interest and usefulness to valuers and investors in office properties in Singapore and thus, help to promote sustainability in office property developments. Journal: Journal of Sustainable Real Estate Pages: 91-115 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091799 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091799 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:91-115 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091800_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Louis Galuppo Author-X-Name-First: Louis Author-X-Name-Last: Galuppo Author-Name: Charles Tu Author-X-Name-First: Charles Author-X-Name-Last: Tu Title: Capital Markets and Sustainable Real Estate: What Are the Perceived Risks and Barriers? Abstract: This paper examines the perceptions of the real estate capital market players regarding green buildings. Through an online survey of lenders, equity investors, and developers, the study collects and analyzes their opinions on the incremental costs and benefits of energy-efficient projects, as well as the importance of various risks and barriers. While the majority of the respondents believe green buildings should have higher value, they are also concerned that this expectation might not materialize if space users (i.e., tenants) are unwilling to pay extra rent for the benefits associated with green space. Generally, the respondents believe that the lack of consumer awareness of these benefits, along with lack of incentives, is a major barrier to the growth of green development. Journal: Journal of Sustainable Real Estate Pages: 143-159 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091800 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091800 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:143-159 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091801_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Gary Pivo Author-X-Name-First: Gary Author-X-Name-Last: Pivo Title: Owner-Tenant Engagement in Sustainable Property Investing Abstract: When it comes to sustainability, improving existing buildings is arguably more important than developing better new facilities. But that can be more difficult because it requires cooperation between owners and tenants. Fortunately, owners are finding ways to cooperate thru green leasing, incentives, and educational programs. This paper presents eight examples from the United States, Europe, and Australia. They demonstrate that property firms can work with new and existing tenants toward greater cooperation around sustainable real estate concerns. Transformation to sustainable property investing will be a "sociotechnical" process. It will require technical skill to improve eco-efficiency, but also new social capabilities that facilitate cooperation among owners and their tenants. Fortunately, the cases presented illustrate ways this can be done. Journal: Journal of Sustainable Real Estate Pages: 184-199 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091801 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091801 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:184-199 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091802_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Eugene Choi Author-X-Name-First: Eugene Author-X-Name-Last: Choi Title: Green on Buildings: The Effects of Municipal Policy on Green Building Designations in America's Central Cities Abstract: This study quantitatively examines the effect of municipal policies on commercial green office building designations. Many states and cities have adopted green building requirements and incentives as policy instruments. This study conducts an OLS regression analysis using American central cities as a unit of analysis and codes municipal green building regulations and incentives for separate dummy variables. The findings reveal that municipal regulatory policy has been a strong tool to promote green office building designations as expected, but incentive-based policies have not been effective except for administrative incentives. Journal: Journal of Sustainable Real Estate Pages: 1-21 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091802 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091802 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:1-21 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091803_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Steven Laposa Author-X-Name-First: Steven Author-X-Name-Last: Laposa Author-Name: Sriram Villupuram Author-X-Name-First: Sriram Author-X-Name-Last: Villupuram Title: Corporate Real Estate and Corporate Sustainability Reporting: An Examination and Critique of Current Standards Abstract: This article examines Global Reporting Initiative's (GRI) corporate sustainability reporting standards and identifies existing and missing linkages with corporate real estate disclosures. Based on an analysis of the GRI reporting standards, results of corporate real estate content analysis in the 45 corporate sustainability reports examined, along with the low explanatory power of the models, there is evidence that establishes a lack of clear and consistent coverage of corporate real estate in corporate sustainability reports. There is a strong need for further disclosure, standardization of several corporate real estate-related reporting benchmarks, and increased transparency with respect to corporate owned or leased properties in corporate sustainability reports. Journal: Journal of Sustainable Real Estate Pages: 23-49 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091803 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091803 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:23-49 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091804_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Norman Miller Author-X-Name-First: Norman Author-X-Name-Last: Miller Author-Name: Dave Pogue Author-X-Name-First: Dave Author-X-Name-Last: Pogue Author-Name: Jeryldine Saville Author-X-Name-First: Jeryldine Author-X-Name-Last: Saville Author-Name: Charles Tu Author-X-Name-First: Charles Author-X-Name-Last: Tu Title: The Operations and Management of Green Buildings in the United States Abstract: This study examines the performance of green buildings from the operation and management perspective. Specifically, we look at the utility expenses, cleaning practices, use of energy-saving devices, and other building operation procedures of a national sample of office properties managed by CB Richard Ellis. The findings indicate that green buildings in the sample are more energy-efficient than their non-green counterparts. Surprisingly, the average total operating expenses of the green building group is higher than the non-green building group, albeit insignificantly. Additionally, a building's operating performance is more highly correlated with its ENERGY STAR score, and not the ENERGY STAR label. Journal: Journal of Sustainable Real Estate Pages: 51-66 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091804 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091804 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:51-66 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091805_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: The Journal of Sustainable Real Estate Journal: Journal of Sustainable Real Estate Pages: fmi-fmxiii Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091805 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091805 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:fmi-fmxiii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091806_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tamara Larsen Author-X-Name-First: Tamara Author-X-Name-Last: Larsen Title: Implementing ESG in Private Real Estate Portfolios: The Case of U.S. and Pan-Europe Core Fund Managers Abstract: This paper provides an overview of current environmental, social, and governance (ESG) practice with some of the leading U.S. and pan-Europe institutional real estate open-end fund managers. There were 18 firms that participated in the interviews, which were conducted with 36 persons, of which 72% were at the decision maker level. The participant firms represented over $300 billion in assets under management at year-end 2009. The paper discusses how fund managers balance fiduciary responsibilities and sustainability goals, the impact of green regulatory pressures, holistic approaches to ESG implementation, green push/pull on tenants, perceived and realized economic returns to sustainability, and the need for internal and external "buy in" for sustainability implementation. Journal: Journal of Sustainable Real Estate Pages: 249-267 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091806 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091806 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:249-267 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091807_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Brian Ciochetti Author-X-Name-First: Brian Author-X-Name-Last: Ciochetti Author-Name: Mark McGowan Author-X-Name-First: Mark Author-X-Name-Last: McGowan Title: Energy Efficiency Improvements: Do they Pay? Abstract: This study attempts to quantify the economic gains associated with investment in energy efficiency improvements (EEI) for commercial real estate. We discuss reasons and challenges associated with taking on this endeavor. Benchmarking the performance of these improvements is discussed through an explanation of the Leadership in Energy and Environmental Design (LEED) program. A series of projects for which investment in EEI has been conducted are reviewed. While data limitations preclude the ability to generalize our results, we believe they demonstrate an area of real estate investment that should not be overlooked. The findings should appeal to owners and operators of commercial real estate, as well as tenants who occupy space in these buildings. Journal: Journal of Sustainable Real Estate Pages: 305-333 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091807 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091807 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:305-333 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091808_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Scott Anders Author-X-Name-First: Scott Author-X-Name-Last: Anders Author-Name: Taylor Day Author-X-Name-First: Taylor Author-X-Name-Last: Day Author-Name: Carolyn Adi Kuduk Author-X-Name-First: Carolyn Adi Author-X-Name-Last: Kuduk Title: "Hey, Your Tree Is Shading My Solar Panels": California's Solar Shade Control Act Abstract: This paper explores laws adopted in the United States at the state level to ensure that a property owner has access to direct sunlight. In particular, it focuses on laws designed to prohibit vegetation on adjacent properties from shading solar energy equipment, such as photovoltaics or solar water heating collectors. The paper compares the laws adopted by states and focuses on California's Solar Shade Control Act as a model for other states. It provides a detailed analysis of the provisions of the Act and a review of cases brought under it. Journal: Journal of Sustainable Real Estate Pages: 361-381 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091808 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091808 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:361-381 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091809_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2010 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Sustainable Real Estate Pages: bmi-bmxv Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091809 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091809 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:bmi-bmxv Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091810_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Aaron Binkley Author-X-Name-First: Aaron Author-X-Name-Last: Binkley Author-Name: Brian Ciochetti Author-X-Name-First: Brian Author-X-Name-Last: Ciochetti Title: Carbon Markets: A Hidden Value Source for Commercial Real Estate? Abstract: Real estate is one of the largest contributors to CO2 emissions yet the industry knows very little about this topic. This paper provides a background on carbon markets and their potential role in a proposed strategy for energy efficiency improvements (EEI). It compares the relationship between an investment decision based solely on electricity prices to one that incorporates the monetary benefit associated with carbon offsets. The findings suggest that a regulated carbon 'cap and trade' system could provide additional value to property owners who pursue EEI strategies. Moreover, carbon offset value differs significantly by geographic location and method by which electrical energy is produced. EEI strategies that take into account carbon offset value could significantly reduce the impact that commercial real estate has on the environment. Journal: Journal of Sustainable Real Estate Pages: 67-90 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091810 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091810 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:67-90 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091811_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephanie Rauterkus Author-X-Name-First: Stephanie Author-X-Name-Last: Rauterkus Author-Name: Grant Thrall Author-X-Name-First: Grant Author-X-Name-Last: Thrall Author-Name: Eric Hangen Author-X-Name-First: Eric Author-X-Name-Last: Hangen Title: Location Efficiency and Mortgage Default Abstract: Using a sample of over 40,000 mortgages in Chicago, Jacksonville, and San Francisco, we model the probability of mortgage default based on differences in location efficiency. We used two proxy variables for location efficiency: 1) vehicles per household scaled by income and 2) Walk Score™. We find that default probability increases with the number of vehicles owned after controlling for income. Further, we find that default probability decreases with higher Walk Scores in high income areas but increases with higher Walk Scores in low income areas. These results suggest that some degree of greater mortgage underwriting flexibility could be provided to assist households with the purchase of location efficient homes, without increasing mortgage default. They also support the notion that government policies around land use, zoning, infrastructure, and transportation could have significant impacts on mortgage default rates. Journal: Journal of Sustainable Real Estate Pages: 117-141 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091811 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091811 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:117-141 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091812_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Emiel van der Maaten Author-X-Name-First: Emiel Author-X-Name-Last: van der Maaten Title: Uncertainty, Real Option Valuation, and Policies toward a Sustainable Built Environment Abstract: Real option value can severely hinder investments in energy conservation in real estate. This paper evaluates whether policy incentives to invest now, instead of tomorrow can be tailored to compensate for any option value to defer. A case study reviews a Dutch government subsidy program with the Cox, Ross, and Rubinstein (1979) binomial method. Based on market priced risk, the subsidy properly compensates investors for the real option value they forego by exercising the option and investing in a solar hot water system. A survey amongst homeowners reveals that private risks are an important part of the perceived uncertainty when investing in energy efficiency and should be included in the model. A practitioners' method is proposed that uses a binomial real option model to design policy incentives and surveys to assess the relevant uncertainties to include in the model. The results displayed in strategy spaces makes intuitive decisions possible. Journal: Journal of Sustainable Real Estate Pages: 161-181 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091812 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091812 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:161-181 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091813_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Georgia Warren-Myers Author-X-Name-First: Georgia Author-X-Name-Last: Warren-Myers Author-Name: Richard Reed Author-X-Name-First: Richard Author-X-Name-Last: Reed Title: The Challenges of Identifying and Examining Links between Sustainability and Value: Evidence from Australia and New Zealand Abstract: A commonly-accepted observation by industry stakeholders is that the financial benefits of sustainable real estate investment are inherently difficult to quantify (RICS, 2009). The lack of transparent financial correlations between sustainability and economic return in real estate has created major issues for real estate appraisers and valuers seeking to accurately reflect the impact of sustainability. This paper argues the lack of transparency with financial drivers restricts substantial investment in sustainability because stakeholders have limited ability to measure the sustainability of the building or understand the impact on value. Journal: Journal of Sustainable Real Estate Pages: 201-220 Issue: 1 Volume: 2 Year: 2010 Month: 1 X-DOI: 10.1080/10835547.2010.12091813 File-URL: http://hdl.handle.net/10.1080/10835547.2010.12091813 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:2:y:2010:i:1:p:201-220 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091814_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Prashant Das Author-X-Name-First: Prashant Author-X-Name-Last: Das Author-Name: Alan Tidwell Author-X-Name-First: Alan Author-X-Name-Last: Tidwell Author-Name: Alan Ziobrowski Author-X-Name-First: Alan Author-X-Name-Last: Ziobrowski Title: Dynamics of Green Rentals over Market Cycles : Evidence from Commercial Office Properties in San Francisco and Washington DC Abstract: This study examines the rental rate dynamics of green commercial office properties in the San Francisco and Washington DC metropolitan areas. We match the list of U.S. Green Building Council (USGBC)-certified commercial office properties in the two areas with property-level temporal and non-temporal data derived from USGBC and CoStar for the period 2007:Q1 to 2010:Q1. We find that, similar to previous studies, green office properties enjoy rental rate premiums over comparable nongreen buildings. However, we also find the premiums to be dynamic instead of constant. Our models suggest that green property rents may provide a hedge in down markets. Journal: Journal of Sustainable Real Estate Pages: 1-22 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091814 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091814 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:1-22 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091815_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephanie Yates Rauterkus Author-X-Name-First: Stephanie Yates Author-X-Name-Last: Rauterkus Author-Name: Norman Miller Author-X-Name-First: Norman Author-X-Name-Last: Miller Title: Residential Land Values and Walkability Abstract: We examine 5,603 property transactions in Jefferson County, Alabama that take place between 2004 and 2008. Using OLS regressions, we estimate the extent to which differences in walkability, as measured by Walk Score™, can explain the variability in land values. We find that after controlling for population growth and lot size, land values generally increase with walkability and that this result is stable over time. However, we find evidence that this impact reverses as neighborhoods become more car-dependent. This car dependency increases as the distance from the central business district increases. We consider the implications of our findings on mixed-use developments in what we believe is the first study to address walkability in this context of sustainable development. Journal: Journal of Sustainable Real Estate Pages: 23-43 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091815 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091815 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:23-43 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091816_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Beach Author-X-Name-First: Robert Author-X-Name-Last: Beach Title: Facility Sustainment and Firm Value: A Case Study Based on Target Corporation Abstract: This paper argues that increasing the level of facility sustainment (maintenance and repair) funding can increase firm value. Higher levels of facility sustainment funding reduce the list of maintenance and repair projects and maintain the liquidation value of the firm's facilities. A condition is derived that establishes the minimum probability of financial distress required for firm value to increase as sustainment funding increases. This condition is tested with a case study based on the annual reports of a major retailer, Target Corporation. The results support the hypothesis. This holds even though adverse externalities that might occur from underfunding sustainment have not been considered. Journal: Journal of Sustainable Real Estate Pages: 232-253 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091816 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091816 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:232-253 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091817_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: William Bradshaw II Author-X-Name-First: William Author-X-Name-Last: Bradshaw II Title: Creative Construction: The Capacity for Environmental Innovation in Real Estate Development Firms Abstract: Despite advances in understanding green building performance in property markets, the green development process is poorly understood. Green development adopters change firm structure in three ways to make adoption of environmental innovation easier: they take greater control of the projects, they seek more patient capital (either by identifying a patient investor or by providing more equity), and they create longer term relationships with design and construction talent. Through a webbased survey, and follow-up interviews with two survey respondents, the paper examines three hypotheses: (1) green development adopters and their investors take a longer-term stake in projects; (2) price competition is less important than competition over quality, and (3) the developer takes greater control, especially in the provision of design and construction services. Journal: Journal of Sustainable Real Estate Pages: 274-311 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091817 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091817 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:274-311 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091818_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Bryan Bloom Author-X-Name-First: Bryan Author-X-Name-Last: Bloom Author-Name: MaryEllen Nobe Author-X-Name-First: MaryEllen Author-X-Name-Last: Nobe Author-Name: Michael Nobe Author-X-Name-First: Michael Author-X-Name-Last: Nobe Title: Valuing Green Home Designs: A Study of ENERGY STAR® Homes Abstract: A number of researchers have attempted to isolate the incremental effect of energy efficiency on home value; however, few studies have benefited from the availability of a comprehensive and continuous indicator of home energy efficiency such as the ENERGY STAR® program. This case study builds on past research by comparing original sale prices between ENERGY STAR qualified homes and non-ENERGY STAR qualified homes in Fort Collins, Colorado. Sale prices were analyzed using hedonic regression analysis. Results indicate that ENERGY STAR homes originally sold for $8.66 more per square foot than non-ENERGY STAR homes. Journal: Journal of Sustainable Real Estate Pages: 109-126 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091818 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091818 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:109-126 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091819_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Laura Barrett Author-X-Name-First: Laura Author-X-Name-Last: Barrett Author-Name: Scott Glick Author-X-Name-First: Scott Author-X-Name-Last: Glick Author-Name: Caroline Clevenger Author-X-Name-First: Caroline Author-X-Name-Last: Clevenger Title: The Process for Adopting an Energy Efficiency Code in Existing Homes: A Case Study of Boulder, Colorado's SmartRegs Program Abstract: On January 3, 2011 Boulder, Colorado implemented the SmartRegs ordinances, becoming the first city in the country to require energy retrofits for rental properties. SmartRegs is an update to the housing and rental licensing code while adding baseline efficiency requirements for rental housing. This study analyzes the process the City of Boulder endured to adopt SmartRegs by performing a content analysis of public meeting minutes and conducting interviews with decision makers to identify barriers and success factors. A key finding is early involvement of one or more people committed to energy efficiency and reaching compromise is necessary to adopt such requirements in an economically driven and adversarial environment. Journal: Journal of Sustainable Real Estate Pages: 192-210 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091819 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091819 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:192-210 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091820_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David Harrison Author-X-Name-First: David Author-X-Name-Last: Harrison Author-Name: Michael Seiler Author-X-Name-First: Michael Author-X-Name-Last: Seiler Title: The Political Economy of Green Industrial Warehouses Abstract: Empirical research into the effects of environmental certification on commercial real estate properties routinely finds evidence of both significant rental rate and occupancy rate premiums accruing to owners of LEED and/or ENERGY STAR certified properties. Interestingly, however, the underlying determinants and drivers of such premia remain largely unexplored. This investigation expands our understanding of environmental certification and valuation effects by examining a previously unexplored property type: industrial warehouse facilities. Using a sample of 20,172 industrial properties, we find "green" certification plays an important, but contingent, role within this sector. Specifically, "green" warehouses in politically conservative areas rent at a significant discount relative to their non-certified counterparts, while similar properties in politically liberal areas rent at a significant premium. These results provide further evidence on the importance of political ideology to real estate decision-making, and offer the first insight into the importance of environmental certification within the industrial warehouse sector. Journal: Journal of Sustainable Real Estate Pages: 44-67 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091820 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091820 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:44-67 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091821_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Constantine Kontokosta Author-X-Name-First: Constantine Author-X-Name-Last: Kontokosta Title: Greening the Regulatory Landscape: The Spatial and Temporal Diffusion of Green Building Policies in U.S. Cities Abstract: This paper explores the determinants of green building policy adoption and the spatial and temporal diffusion of such policies. This research builds substantially on previous work by employing an original, robust database of green building policies created by the author for 200 cities in the United States—the Green Building Regulation Database (GBRD)—and a hazard rate model to determine the effect of a range of variables on policy adoption. The results indicate that economic, political, and climate factors, such as the number of patents issued per capita, carbon emissions per capita, and the existing policy landscape, are significant predictors of green building policy adoption. Cities categorized as policy innovators and early adopters of green building policies tend to have lower carbon emissions per capita, are better educated, and have more restrictive land use regulations. Journal: Journal of Sustainable Real Estate Pages: 68-90 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091821 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091821 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:68-90 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091822_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ramya Aroul Author-X-Name-First: Ramya Author-X-Name-Last: Aroul Author-Name: J. Andrew Hansz Author-X-Name-First: J. Andrew Author-X-Name-Last: Hansz Title: The Role of Dual-pane Windows and Improvement Age in Explaining Residential Property Values Abstract: There is a modest amount of research on the valuation impact of individual green features such as dual-pane windows. We develop and test a valuation theory for dual-pane windows. The results from a hedonic pricing model indicate a positive and statistically significant direct effect for residential transactions with improvements possessing the dual-pane window feature. However, when a dual-pane window age variable is introduced, the direct effect disappears and is replaced by an interaction effect. The supply of properties with dual-pane windows decreases with property age, which suggests that the valuation impact of the dual-pane window feature increases with property age. Journal: Journal of Sustainable Real Estate Pages: 142-161 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091822 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091822 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:142-161 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091823_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marcelo Cajias Author-X-Name-First: Marcelo Author-X-Name-Last: Cajias Author-Name: Sven Bienert Author-X-Name-First: Sven Author-X-Name-Last: Bienert Title: Does Sustainability Pay Off for European Listed Real Estate Companies? The Dynamics between Risk and Provision of Responsible Information Abstract: We follow the guidelines of the Global Reporting Initiative and the European Public Real Estate Association to investigate the quality of real estate-related sustainability information provided by European listed real estate companies in 13 countries. We find that human resources and stock price volatility play a significant role in the company's strength with respect to corporate social responsibility (CSR) activities. Business complexity and financial transparency enhance the provision of sustainable information to capital markets, but business experience does not appear to affect the decision "to go CSR." Furthermore, the benefits of ex ante responsible activities are reflected in lower levels of idiosyncratic risk, but only for firms providing clear signals to investors and markets. Journal: Journal of Sustainable Real Estate Pages: 211-231 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091823 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091823 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:211-231 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091824_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Chad Mapp Author-X-Name-First: Chad Author-X-Name-Last: Mapp Author-Name: MaryEllen Nobe Author-X-Name-First: MaryEllen Author-X-Name-Last: Nobe Author-Name: Brian Dunbar Author-X-Name-First: Brian Author-X-Name-Last: Dunbar Title: The Cost of LEED—An Analysis of the Construction Costs of LEED and Non-LEED Banks Abstract: This study is an analysis of the initial building costs for two Leadership in Energy and Environmental Design (LEED) banks and eight non-LEED banks with similar building types and sizes located in western Colorado. The purpose of this study was to compare the costs of these banks, and to assess costs directly associated with LEED certification. The analysis examines total building costs, square footage costs, soft costs, and hard costs per MasterFormat Division. The study finds that the building costs of the LEED banks are similar to and within the same ranges as non-LEED banks. Additionally, the direct cost associated with seeking LEED certification is estimated to be below 2% of the total project cost. Journal: Journal of Sustainable Real Estate Pages: 254-273 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091824 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091824 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:254-273 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091825_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: The Journal of Sustainable Real Estate Journal: Journal of Sustainable Real Estate Pages: fmi-fmx Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091825 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091825 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:fmi-fmx Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091826_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Eugene Choi Author-X-Name-First: Eugene Author-X-Name-Last: Choi Author-Name: Norman Miller Author-X-Name-First: Norman Author-X-Name-Last: Miller Title: Explaining LEED Concentration: Effects of Public Policy and Political Party Abstract: This study investigates the factors that influence the spatial concentration of Leadership in Energy and Environmental Design (LEED) certified buildings in the United States. We examine the effects of green building standards at the state level and compare these to the effects of financial incentives supported by the Energy Policy Act of 2005 on the concentration of LEED certified buildings. We find that political party has a significant effect on LEED concentration as well as economic growth rates. Federal level economic incentives seem to dominate state level requirements for more sustainable buildings that encourage new LEED certification efforts. Journal: Journal of Sustainable Real Estate Pages: 91-108 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091826 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091826 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:91-108 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091827_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kimberly Goodwin Author-X-Name-First: Kimberly Author-X-Name-Last: Goodwin Title: The Demand for Green Housing Amenities Abstract: Spiking oil prices over the last five years and a heightened awareness of the global warming phenomenon have placed environmentalism and sustainability into the mainstream. Consumers have these concerns in mind when making more of their purchase decisions from what they buy at the grocery store to the kind of car they drive. It only makes sense that these concerns would also factor into the home buying process. This study begins to fill the research void on this topic by examining how important green amenities are in the search for a home to purchase. Journal: Journal of Sustainable Real Estate Pages: 127-141 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091827 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091827 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:127-141 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091828_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kwame Addae-Dapaah Author-X-Name-First: Kwame Author-X-Name-Last: Addae-Dapaah Author-Name: Su Jen Chieh Author-X-Name-First: Su Jen Author-X-Name-Last: Chieh Title: Green Mark Certification: Does the Market Understand? Abstract: A corollary to the green building revolution is the certification of green buildings by relevant organizations. The pertinent question is whether the market understands the certification. The paper addresses the issue via a quantitative (hedonic model) and psychographic (survey) study of the Singapore residential green building market. The results reveal that green certification commands a statistically significant premium. However, the market is confused by the different tiers of certification as evidenced by incommensurate premia for the different tiers. Furthermore, the fact that the premium varies with tenure (freehold/ leasehold) and location after controlling for all other attributes may imply that the premium may not be solely attributable to green certification. Journal: Journal of Sustainable Real Estate Pages: 162-191 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091828 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091828 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:162-191 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091829_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: 2011 AMERICAN REAL ESTATE SOCIETY JOURNAL MANUSCRIPT PRIZE WINNERS Journal: Journal of Sustainable Real Estate Pages: bmi-bmxv Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091829 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091829 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:bmi-bmxv Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091830_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marnie Abramson Author-X-Name-First: Marnie Author-X-Name-Last: Abramson Title: Sustainability and Graduate Business Education: An Analysis of the Need, Best Efforts to Date, and Curriculum Recommendations Abstract: This paper examines the current state of green education by identifying the top graduate business programs that offer high quality education, relevant coursework, and sustainable campus-wide operations. The paper brings to light a strong need for more comprehensive and integrated coursework within the core curriculum of our nation's top programs. The paper provides the opportunity for enhanced thought leadership by introducing a series of four classes that represent a cross-section of the most important concepts of sustainability. Journal: Journal of Sustainable Real Estate Pages: 312-348 Issue: 1 Volume: 3 Year: 2011 Month: 1 X-DOI: 10.1080/10835547.2011.12091830 File-URL: http://hdl.handle.net/10.1080/10835547.2011.12091830 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:3:y:2011:i:1:p:312-348 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091831_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmviii Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091831 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091831 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:fmi-fmviii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091832_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Grant Austin Author-X-Name-First: Grant Author-X-Name-Last: Austin Title: Sustainability and Income-Producing Property Valuation: North American Status and Recommended Procedures Abstract: The valuation of property with “sustainability” aspects is not a new property type nor does it call for a deviation from the traditional valuation methods for the appraisal of income-producing properties. However, there can be numerous and significant differences between sustainable and traditional properties that appraisers must consider, research, and address. This paper provides the first systematic procedure for evaluating sustainable property with practical guidance and advice for the integration of this procedure into the valuation process for appraisers, developers, building owners, real estate investors, lawyers, and other consumers of appraisal services. The proposed procedure is consistent with the “valuation process” promulgated by the Appraisal Institute while being consistent with the Uniform Standards of Professional Appraisal Practice, as well as the methodological and conceptual valuation literature. Journal: Journal of Sustainable Real Estate Pages: 78-122 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091832 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091832 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:78-122 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091833_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Georgia Warren-Myers Author-X-Name-First: Georgia Author-X-Name-Last: Warren-Myers Title: Sustainable Management of Real Estate: Is It Really Sustainability? Abstract: This paper investigates from a management perspective exactly what building owners and managers of commercial real estate are actually doing in the guise of sustainability. This research investigates key owners of real estate portfolios in Australia and New Zealand, and examines what they perceive sustainability to mean to their commercial real estate portfolios and their level of implementation. The research uses a qualitative framework in order to gain an understanding of owners' perceptions of sustainability. The findings reveal that owners perceive sustainability to be very important to the longevity of their portfolios. However, at present, sustainability factors are limited to resource efficiency measures in their real estate portfolios. Consequently, this research questions whether current interpretation and implementation of sustainability in commercial real estate is merely ‘changing the name’ of best practice management to ‘sustainability.’ Journal: Journal of Sustainable Real Estate Pages: 177-197 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091833 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091833 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:177-197 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091834_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sandy Bond Author-X-Name-First: Sandy Author-X-Name-Last: Bond Author-Name: Guy Perrett Author-X-Name-First: Guy Author-X-Name-Last: Perrett Title: The Key Drivers and Barriers to the Sustainable Development of Commercial Property in New Zealand Abstract: In 2011 research was conducted to identify the key drivers and barriers to the sustainable development of commercial property in New Zealand (NZ) by surveying a cross-section of these market participants. The overall aim of the research was to identify any barriers that need to be overcome so that progress can be made towards advancing the sustainable building agenda in NZ's commercial property sector that will help improve building energy performance and reduce greenhouse gas emissions. The results indicate there remain key issues for the property industry to resolve, the most significant of which is the commercial property sectors' view of the cost premium for green buildings versus conventional buildings. Journal: Journal of Sustainable Real Estate Pages: 48-77 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091834 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091834 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:48-77 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091835_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Christopher Hannum Author-X-Name-First: Christopher Author-X-Name-Last: Hannum Author-Name: Steven Laposa Author-X-Name-First: Steven Author-X-Name-Last: Laposa Author-Name: Sarah Reed Author-X-Name-First: Sarah Author-X-Name-Last: Reed Author-Name: Liba Pejchar Author-X-Name-First: Liba Author-X-Name-Last: Pejchar Author-Name: Lindsay Ex Author-X-Name-First: Lindsay Author-X-Name-Last: Ex Title: Comparative Analysis of Housing in Conservation Developments: Colorado Case Studies Abstract: Conservation development (CD) is an approach to the site design of a development property that combines residential development and land conservation. CD has been heralded as an environmentally-friendly development alternative and a means to finance land conservation. We employ a Box-Cox hedonic methodology using transaction data for all CD subdivisions in five Colorado counties, as well as a unique sample of homes in comparable nearby rural non-CD subdivisions to assess the value of the CD amenity to homeowners. Our research demonstrates significant sales price premiums for homes located in regulated and unregulated CDs relative to comparable non-CDs. Journal: Journal of Sustainable Real Estate Pages: 149-176 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091835 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091835 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:149-176 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091836_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Errol Cowan Author-X-Name-First: Errol Author-X-Name-Last: Cowan Title: Sustainability for Suburbs Abstract: The purpose of this paper is to encourage dialogue resulting in action to address unsustainable suburban sprawl. This paper focuses upon suburbs out of recognition that regional and global sustainability is not approachable until the adverse impacts of suburban sprawl and decline are resolved. Journal: Journal of Sustainable Real Estate Pages: 212-241 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091836 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091836 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:212-241 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091837_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Introduction Journal: Journal of Sustainable Real Estate Pages: 1-3 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091837 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091837 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:1-3 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091838_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nils Kok Author-X-Name-First: Nils Author-X-Name-Last: Kok Author-Name: Norman Miller Author-X-Name-First: Norman Author-X-Name-Last: Miller Author-Name: Peter Morris Author-X-Name-First: Peter Author-X-Name-Last: Morris Title: The Economics of Green Retrofits Abstract: This is the first study focused on the economics of green renovations. Our findings are focused on Leadership in Energy and Environmental Design (LEED) buildings certified under the Existing Building: Operations and Maintenance (EBOM) certification scheme during the 2005-2010 period. We compare rents and occupancy rates, and investigate the types of improvements undertaken, as well as the amount of investments required. We survey building owners on the typical improvements and their attitudes towards the benefits and costs of upgrades. The findings indicate that investments in ‘‘green’' retrofits are incorporated by the market, which is consistent with past studies that mostly focused on new construction. The findings indicate that, on average, investments in the sustainability of commercial buildings are economically viable. Journal: Journal of Sustainable Real Estate Pages: 4-22 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091838 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091838 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:4-22 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091839_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: David Blumberg Author-X-Name-First: David Author-X-Name-Last: Blumberg Title: LEED in the U.S. Commercial Office Market: Market Effects and the Emergence of LEED for Existing Buildings Abstract: In 1998, the United States Green Building Council (USGBC) developed the Leadership in Energy and Environmental Design (LEED) system as a certification program for sustainable building standards in new developments. The LEED system has garnered a great degree of attention from owners and developers in the U.S. commercial real estate sector, who not only look to improve the sustainability of their portfolios but the bottom line of their income statements. Numerous studies on the effects on market premiums for LEED certified buildings have been conducted. This paper examines those studies as well as the emergence of LEED for Existing Buildings (LEED-EB), a LEED subsystem that certifies sustainable buildings by evaluating operations and maintenance practices. Journal: Journal of Sustainable Real Estate Pages: 23-47 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091839 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091839 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:23-47 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091840_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Sustainable Real Estate Pages: bmi-bmxv Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091840 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091840 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:bmi-bmxv Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091841_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephanie Gripne Author-X-Name-First: Stephanie Author-X-Name-Last: Gripne Author-Name: J.C. Martel Author-X-Name-First: J.C. Author-X-Name-Last: Martel Author-Name: Brian Lewandowski Author-X-Name-First: Brian Author-X-Name-Last: Lewandowski Title: A Market Evaluation of Colorado's High-performance Commercial Buildings Abstract: Colorado's real estate industry leaders remain skeptical about the financial benefits of high-performance commercial buildings. A survey and index were developed to understand the industry's perspectives on public policies, programs, and market mechanisms. Additionally, a secondary data analysis was conducted to determine if these buildings command financial benefits for the industry. While national studies reveal financial benefits, the results from Colorado are parallel with the market perception: the financial benefits for high-performance commercial buildings in Colorado are unverifiable at this time, primarily due to limited data sets from existing programs and industry databases. Policy recommendations to improve data availability are included. Journal: Journal of Sustainable Real Estate Pages: 123-148 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091841 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091841 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:123-148 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091842_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Roger Smith Author-X-Name-First: Roger Author-X-Name-Last: Smith Author-Name: Michael Brownfield Author-X-Name-First: Michael Author-X-Name-Last: Brownfield Author-Name: Toni Harlan Author-X-Name-First: Toni Author-X-Name-Last: Harlan Author-Name: Judith Shepherd Author-X-Name-First: Judith Author-X-Name-Last: Shepherd Author-Name: Charles Laird Author-X-Name-First: Charles Author-X-Name-Last: Laird Author-Name: Diane Genereux Author-X-Name-First: Diane Author-X-Name-Last: Genereux Title: Landscape Restoration and Stewardship Funded in Perpetuity through Home-site and Golf Course Development Abstract: A challenge for sustainable development on restored landscapes is to secure funding in perpetuity for restoration. We report on a project that has provided a stable source of long-term funding for restoration in conjunction with development of housing, a golf course, and other amenities. At the restored site, historic grazing and a dam system had degraded hydrology and vegetation. Post-restoration ecological metrics now indicate a five-fold increase in spawning trout, and doubling of bird species. Private funding supports prairie and wetlands restoration efforts through a contractual sales-transfer fee and homeowners' dues. A naturalist coordinates restoration and land stewardship. The project provides a model for restorative-development projects supported in perpetuity. Journal: Journal of Sustainable Real Estate Pages: 198-211 Issue: 1 Volume: 4 Year: 2012 Month: 1 X-DOI: 10.1080/10835547.2012.12091842 File-URL: http://hdl.handle.net/10.1080/10835547.2012.12091842 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:198-211 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091843_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Sewalk Author-X-Name-First: Stephen Author-X-Name-Last: Sewalk Author-Name: K. Sunny Liston Author-X-Name-First: K. Sunny Author-X-Name-Last: Liston Author-Name: Morteza Maher Author-X-Name-First: Morteza Author-X-Name-Last: Maher Title: Transpired Solar Air Collectors: An Energy Efficient Technology for Commercial Buildings Abstract: Buildings account for 41% of energy consumption in the United States. Eighty-five percent of this energy comes from non-renewable fossil fuels. There are several ways to use energy more efficiently and produce energy using renewable energy sources. In this paper, we examine three types of solar technologies—photovoltaic (PV), solar water heaters, and transpired solar air collectors (TSAC)—and then focus on TSAC. TSAC is an energy-efficient air-heating technology utilizing existing ventilation systems that is extremely efficient (60% to 80%) and has a payback period of 2–8 years based on a variety of variables. While a relatively new technology and best installations are in areas with cool weather but significant sunshine, given the relatively quick payback and the aesthetically pleasing designs, building owners should evaluate whether a TSAC system is viable option. Journal: Journal of Sustainable Real Estate Pages: 183-205 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091843 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091843 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:183-205 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091844_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back matter Journal: Journal of Sustainable Real Estate Pages: bmi-bmxvi Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091844 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091844 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:bmi-bmxvi Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091845_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Roshan Mehdizadeh Author-X-Name-First: Roshan Author-X-Name-Last: Mehdizadeh Author-Name: Martin Fischer Author-X-Name-First: Martin Author-X-Name-Last: Fischer Author-Name: Amelia Celoza Author-X-Name-First: Amelia Author-X-Name-Last: Celoza Title: LEED and Energy Efficiency: Do Owners Game the System? Abstract: By meeting a set of predetermined requisites and guidelines in the construction or retrofitting process, building owners are able to obtain a Leadership in Energy and Environmental Design (LEED) certification. Given that owners of LEED-certified buildings are often rewarded with financial incentives such as tax breaks and zoning allowances, it has been suggested that applicants for LEED certification take advantage of scoring credits that are easier to obtain, but that may not serve in the interests of the environment. In this paper, we evaluate the frequency with which building owners in California seeking LEED certification after the year 2009 applied the most energy-reducing measures to their buildings. The findings indicate that LEED applicants do not seem to display a selective bias against the LEED rating system score credits deemed as particularly energy-friendly. Journal: Journal of Sustainable Real Estate Pages: 23-34 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091845 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091845 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:23-34 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091846_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Sewalk Author-X-Name-First: Stephen Author-X-Name-Last: Sewalk Author-Name: Ron Throupe Author-X-Name-First: Ron Author-X-Name-Last: Throupe Title: The Feasibility of Reducing Greenhouse Gas Emissions in Residential Buildings Abstract: The American Clean Energy and Security Act of 2009, the so-called Waxman-Markey cap and trade bill, proposed that all residential buildings be renovated to meet existing energy codes upon sale to minimize emissions. In this paper, we examine existing and suggested International Energy Conservation Codes (IECC) and how they compare to the proposed climate objectives. We follow this by calculating the costs to bring existing homes to current energy codes and review the effort needed to bring homes up to future codes based on an in-depth study of over 100 homes in the Denver Metropolitan Area. We find that requiring homes be upgraded to meet existing energy codes is not efficient on a cost versus energy savings/emissions effort for the individual owner unless the government allows large tax credits or imposes a significant carbon tax on carbon emissions. Measures that do make sense include requiring new homes be energy-efficient, energy-efficient light bulbs and appliances when replaced, and increased attic insulation. Journal: Journal of Sustainable Real Estate Pages: 35-65 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091846 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091846 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:35-65 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091847_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Nikodem Szumilo Author-X-Name-First: Nikodem Author-X-Name-Last: Szumilo Author-Name: Franz Fuerst Author-X-Name-First: Franz Author-X-Name-Last: Fuerst Title: The Operating Expense Puzzle of U.S. Green Office Buildings Abstract: Cost savings from efficiency gains are at the core of the green building business case. Significantly lower energy bills are said to be a major factor in the green rent premium observed in earlier studies. Our study tests this relationship by inferring energy costs from operating expenses for a large dataset of U.S. office buildings and relating them to rental rates. We find that eco-certification is associated with a higher than anticipated total energy expenditure, which is the opposite of its expected effect. While our dataset does not contain a direct measure of actual energy consumption, this result puts the cost-saving argument into question. By contrast, we confirm earlier findings of a green rent premium but it might be an effect of factors unrelated to a tenant's operating expenses. Journal: Journal of Sustainable Real Estate Pages: 86-110 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091847 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091847 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:86-110 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091848_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Alita Jones Author-X-Name-First: Alita Author-X-Name-Last: Jones Title: Investigating Deep Retrofits for Toronto's Financial District Office Towers Abstract: In response to a perceived shift towards green building practices and an increased focus on energy efficiency in commercial office facilities management, in this report I examine the barriers and drivers related to deep retrofits for the purpose of developing recommendations for increasing the energy efficiency goals of future retrofit projects. Centered on the Financial District in Toronto, Ontario, I integrate the existing literature, interviews, and local case studies to indicate the current environment for whole building energy efficiency reductions. Recognizing deep retrofits as relatively new to the commercial real estate market, my ideas and recommendations include: corporate social responsibility reporting to build tenant demand; an easily accessible national energy labelling system; improving tools for benchmarking and industry knowledge; and providing innovative financial incentives. Journal: Journal of Sustainable Real Estate Pages: 206-238 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091848 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091848 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:206-238 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091849_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmix Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091849 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091849 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:fmi-fmix Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091850_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sara Wilkinson Author-X-Name-First: Sara Author-X-Name-Last: Wilkinson Author-Name: Paul Van Der Kallen Author-X-Name-First: Paul Author-X-Name-Last: Van Der Kallen Author-Name: Leong Phui Kuan Author-X-Name-First: Leong Author-X-Name-Last: Phui Kuan Title: The Relationship between the Occupation of Residential Green Buildings and Pro-environmental Behavior and Beliefs Abstract: The United Nations strives to promote a healthier society and to develop sustainability, with initiatives such as the New Green Economy, which is part of the United Nations Environment Programme (UNEP). This paper uses a survey of owners and occupiers, using two conceptual frameworks known as the Four Myths of Nature and place theory to investigate whether living in “green” buildings induces behavioral changes leading to a greener society. The results show that it is not possible to conclude that green buildings are inhabited by green occupants, and that physical design and green development alone can harness the attitudes and behaviors associated with green citizenship. Thus, policymakers and developers should not exclusively rely on a green built environment to promote green behavior. Journal: Journal of Sustainable Real Estate Pages: 1-22 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091850 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091850 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:1-22 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091851_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Agnieszka Zalejska-Jonsson Author-X-Name-First: Agnieszka Author-X-Name-Last: Zalejska-Jonsson Title: Impact of Energy and Environmental Factors in the Decision to Purchase or Rent an Apartment: The Case of Sweden Abstract: In this paper, I examine the importance of environmental factors in the residential property market. The paper presents results from a quasi-experimental study and survey responses from 733 occupants of green and conventional buildings. The findings show that energy and environmental building performance factors have rather a minor impact on the purchasing or renting decision. The findings indicate that when discussing the impact of energy and environmental factors on a customer purchase decision, the availability of information should be considered. Journal: Journal of Sustainable Real Estate Pages: 66-85 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091851 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091851 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:66-85 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091852_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Andreas Wiencke Author-X-Name-First: Andreas Author-X-Name-Last: Wiencke Title: Willingness to Pay for Green Buildings: Empirical Evidence from Switzerland Abstract: The demand for green buildings and to what extent firms will pay a premium price compared to conventional buildings is a lively debate. Policy instruments like the Swiss CO2-enactment and the Swiss Building Program encourage and incentivize investments in energy-efficient properties. Based on a corporate real estate survey, I investigate the premium percentage price firms are willing to pay for green buildings. On average, Swiss corporations are willing to pay a premium price of 3.0% for leasing, 4.75% for purchasing, and 5.0% for retrofitting. Depending on firm characteristics, the premium price ranges from 1.3% to 7.9% compared to conventional properties. Firms from the building and financial service industries, as well as public corporations and authorities signal the highest willingness to pay. Journal: Journal of Sustainable Real Estate Pages: 111-130 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091852 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091852 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:111-130 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091853_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Magnus Bonde Author-X-Name-First: Magnus Author-X-Name-Last: Bonde Author-Name: Han Suck Song Author-X-Name-First: Han Suck Author-X-Name-Last: Song Title: Does Greater Energy Performance have an Impact on Real Estate Revenues? Abstract: In order to further mitigate negative environmental impact, the European Union (EU) has adopted the so called “20-20-20” goals, in which a (primary) energy reduction target is included. Subsequently, the Energy Performance Certificate (EPC) for buildings (via the Directive on the Energy Performance of Buildings) has been implemented in EU member states. In this paper, we examine the impact of EPCs on office revenues. By and large, we find that better EPC ratings have a positive and significant effect on revenues. This research area is important as improved energy efficiency in the built environment is necessary in order to reach the EU reduction target. Journal: Journal of Sustainable Real Estate Pages: 171-182 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091853 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091853 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:171-182 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091854_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Gary Pivo Author-X-Name-First: Gary Author-X-Name-Last: Pivo Title: The Effect of Sustainability Features on Mortgage Default Prediction and Risk in Multifamily Rental Housing Abstract: This study examines the relationship between transportation-, location-, and affordability-related sustainability features and default risk in multifamily housing. It finds that sustainability features can be used to improve the prediction of mortgage default and reduce default risk. The study uses 37,385 loans in the Fannie Mae multifamily portfolio at the end of 2011:Q3. The results suggest two implications for practice. First, certain aspects of sustainability can be fostered without increasing default risk by adjusting conventional lending standards. Second, lenders could improve their risk management practices by taking stock of sustainability features when loans originate. Journal: Journal of Sustainable Real Estate Pages: 149-170 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091854 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091854 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:149-170 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091855_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Arvin Malkani Author-X-Name-First: Arvin Author-X-Name-Last: Malkani Author-Name: Mark Starik Author-X-Name-First: Mark Author-X-Name-Last: Starik Title: The Green Building Technology Model: An Approach to Understanding the Adoption of Green Office Buildings Abstract: This article investigates the economic and non-economic factors that influence the willingness of building professionals to adopt green office building technology. We developed a model that analyzes the impact of four variables on the intention to adopt green building technology, as measured by the adoption of LEED and ENERGY STAR certifications. Applying our Green Building Technology Model (GBTM) to a sample of Washington, D.C.-area building professionals, we found that both economic and non-economic factors are important in the intention to adopt LEED and ENERGY STAR building technologies. The GBTM allows us to understand the factors that lead to the adoption of green office buildings, with the intended result being wider adoption of LEED and ENERGY STAR buildings. Journal: Journal of Sustainable Real Estate Pages: 131-148 Issue: 1 Volume: 5 Year: 2013 Month: 1 X-DOI: 10.1080/10835547.2014.12091855 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091855 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:131-148 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091856_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael Stein Author-X-Name-First: Michael Author-X-Name-Last: Stein Author-Name: Wolfgang Braun Author-X-Name-First: Wolfgang Author-X-Name-Last: Braun Author-Name: Marta Salvador Villà Author-X-Name-First: Marta Salvador Author-X-Name-Last: Villà Author-Name: Volker Binding Author-X-Name-First: Volker Author-X-Name-Last: Binding Title: Monte Carlo Cash Flows and Sustainability: How to Decide on Going Green Abstract: Green, sustainable or energy-efficient buildings apparently outperform other buildings with respect to rental level, value, and/or occupancy rates according to empirical findings. Most studies focus on commonly accepted databases to analyze the value or rent differences from a top-down perspective, that is, investigating value or rent differences between subject and control groups. But the decision-making problem at hand is mainly omitted from detailed discussions. We propose a framework using cash flow simulations in order to mirror the decision-making problem that owners face. By enabling both costs and benefits in different ways as inputs to a simulation model, we set up a large variety of realistic scenarios. We also consider findings and indications from previous decision modeling research. Our approach may be employed at all levels of detail that is needed and assists in economic-based decisions for sustainable investing. Journal: Journal of Sustainable Real Estate Pages: 143-161 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091856 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091856 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:143-161 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091857_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Sustainable Real Estate Pages: 233-250 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091857 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091857 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:233-250 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091858_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Simons Author-X-Name-First: Robert Author-X-Name-Last: Simons Author-Name: Youngme Seo Author-X-Name-First: Youngme Author-X-Name-Last: Seo Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Title: The Effect of a Large Hog Barn Operation on Residential Sales Prices in Marshall County, KY Abstract: In this paper, we examine the economic impact of a tightly clustered complex of hog barns, a type of concentrated animal feeding operation (CAFO) on residential property in a rural area near Benton, Kentucky. The operation creates noxious and offensive odors associated with swine-raising and waste disposal activities. Theory and practice indicate that buyers would avoid purchasing a property believed to be contaminated or subject to effects of unsustainable environmental disamenities. Using hedonic regression analysis, the results show price reductions of 23%–32% for residential properties sold within 1.25 miles of the facility, and much larger losses northeast (downwind) of the facility. Journal: Journal of Sustainable Real Estate Pages: 93-111 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091858 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091858 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:93-111 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091859_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Gary Pivo Author-X-Name-First: Gary Author-X-Name-Last: Pivo Title: Walk Score: The Significance of 8 and 80 for Mortgage Default Risk in Multifamily Properties Abstract: In this paper, I use logistic regression to study the relationship between walkability and mortgage default risk in multifamily housing in a pool of nearly 37,000 Fannie Mae loans. Walkability is measured with Walk Score, a widely available metric. Controls were introduced for loan terms, property characteristics, neighborhood conditions, and macroeconomics. Walkability reduced default risk but the relationship was nonlinear with thresholds. Default risk significantly increased where walkability was very low and significantly decreased where it was very high. The implication is that walkability and its possible benefits to health and the environment could be fostered by relaxing lending terms without adding default risk. Journal: Journal of Sustainable Real Estate Pages: 187-210 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091859 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091859 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:187-210 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091860_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Perry Wisinger Author-X-Name-First: Perry Author-X-Name-Last: Wisinger Title: Chemical Hazardous Sites and Residential Prices: Determinants of Impact Abstract: The Emergency Planning and Community Right-to-Know Act (EPCRA) requires reporting of potential chemical hazardous sites to the Environmental Protection Agency (EPA). The EPA discloses some sites on the Internet while others are not. I investigate whether Internet disclosure makes a difference on the impact a hazardous site has on nearby housing prices. I also investigate the relevance of EPA-hazard classifications to understand the residential market reaction to nearby chemical hazardous sites. Data from Lubbock, Texas confirm that housing values near registered chemical hazards are lower, ceteris paribus; however, Internet-listed hazardous sites do not have a bigger impact on housing prices than do hazards not listed on the Internet. But more importantly, hazard classifications other than EPA classification better define house price behavior. Journal: Journal of Sustainable Real Estate Pages: 3-21 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091860 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091860 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:3-21 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091861_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael Seiler Author-X-Name-First: Michael Author-X-Name-Last: Seiler Title: Power Lines and Perceived Home Prices: Isolating Elements of Easement Rights and Noise Pollution Abstract: This study is the first to use experimental design to look beyond the overall impact of power lines on property values by examining specific easement rights and noise pollution concerns. I find that in isolation, easement rights are associated with a non-significant reduction in property value, whereas noise pollution statistically significantly reduces property values. Interestingly, when easement rights are combined with noise pollution, the combined effect is more than additive. Results from the sample of eminent domain attorneys, who are valuation impact experts, reveals that females penalize a property more severely for being associated with power lines, and attorneys who typically represent property owners (as opposed to the condemnor) are more sympathetic to greater diminution values. Journal: Journal of Sustainable Real Estate Pages: 47-61 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091861 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091861 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:47-61 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091862_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sofia Dermisi Author-X-Name-First: Sofia Author-X-Name-Last: Dermisi Title: A Study of LEED vs. Non-LEED Office Buildings Spatial & Mass Transit Proximity in Downtown Chicago Abstract: Although the number of Leadership in Energy and Environmental Design (LEED) certified office buildings continues to increase, research on their spatial distributions in comparison to non-LEED buildings and mass transit links need to be explored in depth. This paper focuses on these aspects using all the downtown Chicago Class A office buildings as the study area. The findings show that LEED buildings are 21% closer to each other, indicating possible proximity pressure. LEED-Gold buildings are also 18% closer to each other compared to Silver. Regarding mass transit, LEED compared to non-LEED buildings are on average 14% closer to a metro area commuter rail station (Metra) and 12% closer to a local commuter rail station (CTA). In addition, LEED and non-LEED buildings show some evidence of small group clustering in certain areas, while the econometric results indicate that buildings located along the most prominent office market street (Wacker Drive) achieved 12% higher LEED points compared to other LEED buildings. A similar result was experienced among buildings built after 1979 and those certified under LEED v.2009 (12% and 19%, respectively). Additionally, LEED-Silver buildings achieved a lower number of points compared to other certification levels by 20%. Journal: Journal of Sustainable Real Estate Pages: 115-142 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091862 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091862 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:115-142 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091863_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Hans Op 't Veld Author-X-Name-First: Hans Op 't Author-X-Name-Last: Veld Author-Name: Martijn Vlasveld Author-X-Name-First: Martijn Author-X-Name-Last: Vlasveld Title: The Effect of Sustainability on Retail Values, Rents, and Investment Performance: European Evidence Abstract: This paper is the first to focus on the effects of sustainability on the investment performance of a European retail portfolio comprising 128 properties in the Netherlands and extends the existing range of studies on the office and residential sectors in the United States. As the data sample is an existing fund portfolio, all attributes of the properties are known. Environmental sustainability is measured by the Dutch energy label, which compares with ENERGY STAR in the U.S. Through OLS regressions, we examine whether a sustainability premium exists. We find that green retail properties have a significantly higher income return of 0.52%, while, counterintuitively, non-green retail properties appear to have significantly higher rents and values. After controlling for various factors, however, the sustainability effects become insignificant. This contradicts some of the findings in the office and residential sectors. We attribute this to the importance of traditional retail location theory factors, which continue to dominate returns. Journal: Journal of Sustainable Real Estate Pages: 163-185 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091863 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091863 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:163-185 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091864_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jay Mittal Author-X-Name-First: Jay Author-X-Name-Last: Mittal Title: Value Capitalization Effect of Protected Properties: A Comparison of Conservation Easement with Mixed-Bag Open Spaces Abstract: In this paper, I examine the impact of open space restrictions on neighboring house prices using hedonic modeling framework and GIS. The comparison is between two groups of parcels in Worcester, Massachusetts: one has a mixture of open space restrictions that limit or prohibit development and the other has a conservation easement. Conservation easement (CE) involves voluntarily restricted conservation worthy private lands from future developments in perpetuity. The sample used is single-family detached houses that were sold in 2005 to 2008. Since future development restrictions lower the property values and tax base for local communities, the findings confirm that spatially targeted CE parcels with proximity of, and visibility to CE parcels drive up the surrounding property values, thereby providing additional tax base and income to the communities. Journal: Journal of Sustainable Real Estate Pages: 23-45 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091864 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091864 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:23-45 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091865_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Claire La Roche Author-X-Name-First: Claire Author-X-Name-Last: La Roche Author-Name: Bennie Waller Author-X-Name-First: Bennie Author-X-Name-Last: Waller Author-Name: Scott Wentland Author-X-Name-First: Scott Author-X-Name-Last: Wentland Title: “Not in My Backyard”: The Effect of Substance Abuse Treatment Centers on Property Values Abstract: Residential treatment centers offer the most intense form of treatment for substance abuse and are often embedded in residential neighborhoods. As a result of the Patient Protection and Affordable Care Act, the number of treatment centers has been forecasted to burgeon. We examine the external effect of residential rehab centers on nearby real estate. As addiction treatment centers are planned, a common response of nearby property owners is ‘‘not in my backyard’’ (NIMBY). Using a large MLS dataset from central Virginia, we estimate the impact of substance abuse treatment centers on nearby home prices and liquidity (as measured by time on market). We find that a neighboring treatment center is associated with an 8% reduction in nearby home prices, and that this discount is magnified for treatment centers that specifically treat opiate addiction (as much as 17%). Journal: Journal of Sustainable Real Estate Pages: 63-92 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091865 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091865 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:63-92 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091866_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Simons Author-X-Name-First: Robert Author-X-Name-Last: Simons Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Author-Name: Eunkyu Lee Author-X-Name-First: Eunkyu Author-X-Name-Last: Lee Title: Green Office Buildings: A Qualitative Exploration of Green Office Building Attributes Abstract: In this paper, we identify specific green building attributes important to tenants using a mixed-industry series of focus-groups in Chicago, Denver, Washington D.C., and the San Francisco Bay Area. The focus groups reveal the relative importance of green office building attributes and further explore the qualitative reasons for those rankings. Regional preferences were revealed through differing priorities of public transportation, indoor air quality, HVAC, and other attributes. Six out of the seven focus groups agreed that green building attributes were the most important for people, compared to the economic and environmental impact of the attributes. These focus group results provide the foundation for a future comprehensive survey of office tenants on their green building feature preferences. Journal: Journal of Sustainable Real Estate Pages: 211-232 Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091866 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091866 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:211-232 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091867_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmix Issue: 1 Volume: 6 Year: 2014 Month: 1 X-DOI: 10.1080/10835547.2014.12091867 File-URL: http://hdl.handle.net/10.1080/10835547.2014.12091867 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:6:y:2014:i:1:p:fmi-fmix Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091868_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Author-Name: Pat McAllister Author-X-Name-First: Pat Author-X-Name-Last: McAllister Title: Heterogeneous Price Premiums in Sustainable Real Estate? An Investigation of the Relation between Value and Price Premiums Abstract: Focusing on the voluntary LEED and ENERGY STAR environmental certification schemes in the United States, we investigate whether price premiums exist across all building value categories or are localized to specific value segments. We find that the largest value building segment does not demonstrate any price premiums, while the smallest value categories do. The concentrated supply of eco-labeled offices in large, high-quality buildings likely contributes to this phenomenon. Results from hedonic and quantile regressions indicate that price premiums for eco-certified real estate assets may not be uniformly distributed across value segments and that price premiums found in the literature are concentrated in smaller and mid-tier value buildings. This may be due to the comparatively lower market penetration of eco-certification schemes in these segments. Journal: Journal of Sustainable Real Estate Pages: 1-20 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091868 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091868 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:1-20 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091869_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Laura Bently Author-X-Name-First: Laura Author-X-Name-Last: Bently Author-Name: Scott Glick Author-X-Name-First: Scott Author-X-Name-Last: Glick Author-Name: Kelly Strong Author-X-Name-First: Kelly Author-X-Name-Last: Strong Title: Appraising Sustainable Building Features: A Colorado Case Study Abstract: We investigate the current status of sustainable value integration in Colorado's real estate markets, an area with limited current / historical value attributed to sustainability. The property appraiser has an opportunistic position to influence stakeholders and potentially increase demand for sustainable building. The appraisal process, necessary inputs, and rules and regulations were studied using an exploratory sequential mixed methods approach to conduct a cross-sectional study through archival research, survey distribution, and the collection of quantitative and qualitative data. We confirm that Colorado's real estate appraisers are increasingly integrating sustainable building features in appraisal assignments, despite existing challenges. Journal: Journal of Sustainable Real Estate Pages: 112-133 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091869 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091869 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:112-133 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091870_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sandy Bond Author-X-Name-First: Sandy Author-X-Name-Last: Bond Title: Californian Realtors' Perceptions towards Energy-Efficient “Green” Housing Abstract: Realtors are seen as important enablers of behavior change toward a low-carbon future through the communication of sustainability measures to home buyers and sellers. In 2012/2013, research was conducted to assess Californian Realtors' knowledge of, and perceptions towards, sustainable housing using an online survey instrument. The majority of respondents consider good insulation to be the most important feature to contribute to a more sustainable home, yet the green features that buyers most commonly ask about are dual-paned windows and tankless hot water. The biggest barriers to incorporating energy-efficient features into a home continue to focus on cost and poor access to information. Realtors could play a key role to overcoming barriers by providing accurate and relevant information to consumers to improve their understanding of energy efficiency and address misconceptions. Journal: Journal of Sustainable Real Estate Pages: 134-159 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091870 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091870 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:134-159 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091871_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Thomas Braun Author-X-Name-First: Thomas Author-X-Name-Last: Braun Author-Name: Sven Bienert Author-X-Name-First: Sven Author-X-Name-Last: Bienert Title: Is Green (still) a Matter of Prime? Stylized Facts about the Location of Commercial Green Buildings Abstract: We investigate the status quo of commercial green building locations and changes made over time in 103 metropolitan statistical areas (MSAs) to detect indications of the maturity of the commercial green building market. The findings of the descriptive analysis, based on LEED data provided by the U.S. Green Building Council, are twofold. First, commercial green buildings are typically located in prime locations. Second, since 2006, a slight hierarchical diffusion process from prime to non-prime locations is observed, particularly among low-level certifications, which indicates an effective product differentiation, rising market transparency, and increased learning curve effects on the commercial green building market. Journal: Journal of Sustainable Real Estate Pages: 160-182 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091871 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091871 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:160-182 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091872_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Scott Glick Author-X-Name-First: Scott Author-X-Name-Last: Glick Author-Name: Caroline M. Clevenger Author-X-Name-First: Caroline M. Author-X-Name-Last: Clevenger Author-Name: Mark Laverty Author-X-Name-First: Mark Author-X-Name-Last: Laverty Title: Assessing the Implementation of Mandating Energy Efficiency: Boulder, Colorado's Implementation of SmartRegs Abstract: On January 3, 2011, the City of Boulder, Colorado implemented the SmartRegs ordinances updating the city's housing and rental licensing code by mandating baseline efficiency requirements for rental housing units. We examine the SmartRegs inspector training program relative to the prescriptive path checklist for compliance and quality assurance controls from inception through the first quarter of 2014. We find that discrepancies in quality control audits may be the result of the training and certification program not adequately preparing inspectors for the field observations needed to competently complete inspections. This may be due to improper planning of implementation policies. Journal: Journal of Sustainable Real Estate Pages: 183-197 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091872 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091872 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:183-197 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091873_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Saul Nurick Author-X-Name-First: Saul Author-X-Name-Last: Nurick Author-Name: Karen Le Jeune Author-X-Name-First: Karen Author-X-Name-Last: Le Jeune Author-Name: Emma Dawber Author-X-Name-First: Emma Author-X-Name-Last: Dawber Author-Name: Ryan Flowers Author-X-Name-First: Ryan Author-X-Name-Last: Flowers Author-Name: Jennifer Wilkinson Author-X-Name-First: Jennifer Author-X-Name-Last: Wilkinson Title: Incorporating Green Building Features and Initiatives into Commercial Property Valuation Abstract: The rapid acceptance of green buildings internationally has led to awareness of green building features and initiatives (GBFIs) in the South African property industry; however, among South African valuers, it seems the awareness is still in its infancy. Semi-structured interviews were conducted with valuers of varying degrees of experience in Cape Town, online surveys were completed by a sample of South African valuers, and a valuation simulation was conducted to determine the impact of GBFIs. The findings indicate that even though South African valuers have limited knowledge of green buildings, they recognize the importance of incorporating GBFIs in the valuation process. Journal: Journal of Sustainable Real Estate Pages: 21-40 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091873 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091873 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:21-40 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091874_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: A. Olaleye Author-X-Name-First: A. Author-X-Name-Last: Olaleye Author-Name: T.O. Ayodele Author-X-Name-First: T.O. Author-X-Name-Last: Ayodele Author-Name: M.O. Komolafe Author-X-Name-First: M.O. Author-X-Name-Last: Komolafe Title: The Relevance of Green Building Practice in Emerging Markets: A Perceptual Analysis of Commercial and Industrial Building Users in Ibadan, Nigeria Abstract: In this study, we examine the operational challenges of existing green building related features /systems to develop hypotheses about factors that will increase the demand for green buildings. We test these hypotheses by examining the potential green building advantages that will influence users' adoption of green practices and their willingness to pay. The sample included 75 commercial and industrial property users in Ibadan, Nigeria. The findings show that respondents face significant operational challenges with existing building features/ systems, especially energy and water. Potential advantages relevant to business processes (reduced resource utilization, quality of work life, and ability to sell to pro-environmental customers) have a greater impact on green building demand relative to other advantages. Most respondents were willing to pay between a 1% and a 10% premium for upgrading to green building. Overall, public enlightenment, awareness, and better enabling green building practice can be improved in Nigeria. Journal: Journal of Sustainable Real Estate Pages: 41-59 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091874 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091874 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:41-59 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091875_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Andrew R. Sanderford Author-X-Name-First: Andrew R. Author-X-Name-Last: Sanderford Author-Name: Matthew J. Keefe Author-X-Name-First: Matthew J. Author-X-Name-Last: Keefe Author-Name: C. Theodore Koebel Author-X-Name-First: C. Theodore Author-X-Name-Last: Koebel Author-Name: Andrew P. McCoy Author-X-Name-First: Andrew P. Author-X-Name-Last: McCoy Title: Factors Influencing U.S. Homebuilders' Adoption of Green Homebuilding Products Abstract: While many researchers have analyzed the obstacles to the diffusion of innovation in building construction, little empirical evidence has been gathered about the factors associated with U.S. homebuilders' adoption of innovative building products. In this paper, we develop a theory-driven diffusion of innovation conceptual model of homebuilders' adoption of high performance building product innovations. We are among the first to operationalize a regression model to demonstrate an application of the model using a large dataset from the National Association of Homebuilders. Model results indicate that builders' selections of high performance products are influenced by internal or firm attributes, external attributes, as well as the attributes of the high performance innovations. These results suggest that the adoption rates of future innovative building products will likely be influenced by product and climate and have the potential to be amplified by bandwagon effects. Journal: Journal of Sustainable Real Estate Pages: 60-82 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091875 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091875 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:60-82 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091876_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marcus T. Allen Author-X-Name-First: Marcus T. Author-X-Name-Last: Allen Author-Name: Grant W. Austin Author-X-Name-First: Grant W. Author-X-Name-Last: Austin Author-Name: Mushfiq Swaleheen Author-X-Name-First: Mushfiq Author-X-Name-Last: Swaleheen Title: Measuring Highway Impacts on House Prices Using Spatial Regression Abstract: Generally accepted real estate valuation theory, augmented by ample empirical evidence, supports the notion of significant impacts on prices of residential properties near highways. Houses adjacent to highways are exposed to potentially increased traffic noise, although these homeowners may benefit from increased accessibility to highway systems. This study is prompted by a massive new highway construction project (25 miles at a cost of $1.5 billion over a nine-year period) that will complete a 110-mile beltway around the Orlando, Florida metropolitan area. Using observed prices of houses near existing highways, this study provides insights into the potential effects of the new highway on planned and existing houses in this market. The results indicate significant price discounts for houses adjacent to highways, houses near high-traffic highways, and houses farther from highway on-ramps, but no significant impact related to distances from houses to highways or sound barrier walls. Journal: Journal of Sustainable Real Estate Pages: 83-98 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091876 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091876 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:83-98 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091877_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Erin A. Hopkins Author-X-Name-First: Erin A. Author-X-Name-Last: Hopkins Title: LEED Certification of Campus Buildings: A Cost-Benefit Approach Abstract: This is the first comprehensive cost-benefit analysis of Leadership in Energy and Environmental Design (LEED) buildings certified within the higher education sector. Sixteen institutions of higher education (IHEs) were surveyed with the findings focused on the upfront green premium and down the line energy savings. The net present value (NPV), internal rate of return (IRR), and discounted payback period were calculated to determine the financial feasibility of LEED certified buildings within the higher education sector. The findings indicate mixed results when looking at the projects from both an upfront construction cost and full lifecycle perspective. Journal: Journal of Sustainable Real Estate Pages: 99-111 Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091877 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091877 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:99-111 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091878_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Sustainable Real Estate Pages: bmi-bmxvi Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091878 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091878 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:bmi-bmxvi Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091879_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmxi Issue: 1 Volume: 7 Year: 2015 Month: 11 X-DOI: 10.1080/10835547.2015.12091879 File-URL: http://hdl.handle.net/10.1080/10835547.2015.12091879 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:7:y:2015:i:1:p:fmi-fmxi Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091880_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Preface Journal: Journal of Sustainable Real Estate Pages: 1-1 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091880 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091880 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:1-1 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091881_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Evan Mills Author-X-Name-First: Evan Author-X-Name-Last: Mills Title: Green Residential Appraisals in the United States Context: Challenges and Opportunities Abstract: Rigorous consideration of green and high-performance attributes is rarely included in the residential property valuation process. Drawing upon the literature and interviews of property valuation professionals, in this I identify key barriers to scale-up of this emerging practice and opportunities for overcoming them. Key categories of opportunities include elevating the competency of appraisers, developing better information resources, improving benchmarking and rating tools, better characterizing and managing performance risk, integrating disaster resilience and sustainability considerations, mitigating the problem of additional time/cost for performing assignments, enhancing demand for improved appraisals, and engaging a greater diversity of market participants. Journal: Journal of Sustainable Real Estate Pages: 120-144 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091881 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091881 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:120-144 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091882_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Edmund Zolnik Author-X-Name-First: Edmund Author-X-Name-Last: Zolnik Title: The Resilience of the Premium for Homes in New Urbanist Neighborhoods Abstract: In this study, I analyze longitudinal differences in single-family home prices in two new urbanist neighborhoods versus surrounding conventional neighborhoods. Using data on 78,513 single-family home sales transactions in Montgomery County, Maryland, I adopt a novel multilevel methodology to assess the effects of neighborhood demographic, economic, and locational characteristics as well as the effects of year on home prices. Results support empirical evidence on the premium that buyers willingly pay for homes in new urbanist neighborhoods. Year effects indicate that the premium withstood the Great Recession quite well. Journal: Journal of Sustainable Real Estate Pages: 145-167 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091882 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091882 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:145-167 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091883_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Eunkyu Lee Author-X-Name-First: Eunkyu Author-X-Name-Last: Lee Title: Sustainable Building Attributes that Contribute to Employees' Productivity — From the Tenant Perspective Abstract: In this study, I ask office building tenants whether a building's environments would impact their productivity at the workplace. Multilevel logistic regression analysis is employed to identify which sustainable building attributes are significantly associated with their perceptions. The findings indicate that 58% of respondents recognize that a building's environments influence their productivity. When it comes to individual attributes, the analysis reveals that those who are willing to pay more for better access to natural light, improved indoor air quality, individual temperature control, and green (non-toxic) cleaning are more likely to agree with the proposition that a building's environments affects their productivity. Journal: Journal of Sustainable Real Estate Pages: 168-189 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091883 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091883 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:168-189 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091884_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Peter Geiger Author-X-Name-First: Peter Author-X-Name-Last: Geiger Author-Name: Marcelo Cajias Author-X-Name-First: Marcelo Author-X-Name-Last: Cajias Author-Name: Franz Fuerst Author-X-Name-First: Franz Author-X-Name-Last: Fuerst Title: A Class of its Own: The Role of Sustainable Real Estate in a Multi-Asset Portfolio Abstract: In this paper, we analyze the effect of socially responsible investments within a multi-asset portfolio optimization model. We also attempt to bridge the gap in the real estate literature between sustainability principles and investment analysis. To this aim, listed real estate companies with an active sustainability agenda, identified through the MSCI ESG database, represent the sustainable real estate asset class. Applying a downside risk approach by using a conditional value at risk (CVaR) optimization technique, we establish empirically whether diversification benefits can be achieved by investing in companies with a proven track record in sustainability. Our results highlight the potential contribution of listed real estate companies with high sustainability ratings to an institutional investor's portfolio taking into account differences in investment style and risk aversion. Journal: Journal of Sustainable Real Estate Pages: 190-218 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091884 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091884 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:190-218 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091885_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Mark Obrinsky Author-X-Name-First: Mark Author-X-Name-Last: Obrinsky Author-Name: Caitlin Walter Author-X-Name-First: Caitlin Author-X-Name-Last: Walter Title: Energy Efficiency in Multifamily Rental Homes: An Analysis of Residential Energy Consumption Data Abstract: In this paper, we examine how energy consumption differs among different residential housing types. Most previous research suggests that apartments are less energy efficient than single-family homes, whether owner-occupied or rental. In addition, principal-agent problems in rental housing are said to lead to greater energy consumption by renters. Using microdata from the Residential Energy Consumption Survey, we examined the impact of both structure type and tenure on energy usage. Our results show that multifamily homes are more energy efficient than single-family homes, and that it is not tenure, but rather whether the resident pays for energy directly that affects energy usage. Journal: Journal of Sustainable Real Estate Pages: 2-19 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091885 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091885 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:2-19 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091886_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen Sewalk Author-X-Name-First: Stephen Author-X-Name-Last: Sewalk Author-Name: Norm G. Miller Author-X-Name-First: Norm G. Author-X-Name-Last: Miller Author-Name: Sunny Liston Author-X-Name-First: Sunny Author-X-Name-Last: Liston Author-Name: David Wenzhong Gao Author-X-Name-First: David Wenzhong Author-X-Name-Last: Gao Title: Commercial Buildings: Energy Efficiency and Reliability with Electric, Smart, and Microgrids Abstract: In this paper, we examine energy storage, peak load minimization, and demand response and how these new technologies are allowing commercial building owners to capitalize these value streams by implementing new technologies. The use of smart grids in commercial buildings can reduce total carbon emissions, placing building owners in an advantageous position should a carbon tax ever be imposed on emissions. Owners of commercial buildings should seriously consider smart microgrids that combine energy production, storage, and the ability to isolate and insulate the building from the grid should a power disruption occur. Smart and micro grids add positive value to commercial buildings because they provide (1) peak load management (shaving costs), (2) integrate renewable energy (reducing emissions and costs), and provide (3) instant back-up power on demand giving the building added reliability, safety, and the ability to continue operating under otherwise challenging circumstances. Journal: Journal of Sustainable Real Estate Pages: 20-61 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091886 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091886 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:20-61 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091887_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jay Mittal Author-X-Name-First: Jay Author-X-Name-Last: Mittal Author-Name: Sweta Byahut Author-X-Name-First: Sweta Author-X-Name-Last: Byahut Title: Value Capitalization Effects of Golf Courses, Waterfronts, Parks, Open Spaces, and Green Landscapes — A Cross-Disciplinary Review Abstract: This article is a cross-disciplinary literature review of eight environmental amenities and their marginal price effect on nearby residential property values. The purpose of the article is to present variation in price contributing effects of amenities on home values and to identify most commonly used value capturing measurement variables, proximity to and view of, amenities. Additionally, variants of these variables are identified and are presented to showcase how they are used in different situations for different amenity types. Further, this article also highlights which variant of the variable is most suited to capture the marginal price effect by the amenity types. This is the first attempt to compile a comprehensive review of the literature from five disciplines across eight amenity types and provides a useful base for scholars and practitioners interested in the topic. Journal: Journal of Sustainable Real Estate Pages: 62-94 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091887 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091887 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:62-94 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091888_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sara Wilkinson Author-X-Name-First: Sara Author-X-Name-Last: Wilkinson Title: Understanding Sustainability and the Australian Property Professions Abstract: As the built environment produces a third of total greenhouse gas emissions, there is potential for the sector to lead in mitigating global warming. Many terms describe sustainable buildings (e.g., green, ecological, environmentally friendly) but are they the same? Could it mean our understanding of sustainability is fragmented or confused? Moreover, what is property professionals understanding of sustainability? A gap in understanding could mean that property professionals will be unlikely to deliver “sustainability,” with onerous consequences. In this study, I explore how individuals understand sustainability, and how that understanding influences behavior and action. Journal: Journal of Sustainable Real Estate Pages: 95-119 Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091888 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091888 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:95-119 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091889_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Sustainable Real Estate Pages: bmi-bmxvi Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091889 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091889 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:bmi-bmxvi Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091890_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmviii Issue: 1 Volume: 8 Year: 2016 Month: 11 X-DOI: 10.1080/10835547.2016.12091890 File-URL: http://hdl.handle.net/10.1080/10835547.2016.12091890 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:8:y:2016:i:1:p:fmi-fmviii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091891_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Sustainable Real Estate Pages: bmi-bmxvi Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091891 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091891 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:bmi-bmxvi Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091892_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmvii Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091892 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091892 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:fmi-fmvii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091893_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Preface Journal: Journal of Sustainable Real Estate Pages: 1-2 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091893 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091893 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:1-2 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091894_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Ramya R. Aroul Author-X-Name-First: Ramya R. Author-X-Name-Last: Aroul Author-Name: Mauricio Rodriguez Author-X-Name-First: Mauricio Author-X-Name-Last: Rodriguez Title: The Increasing Value of Green for Residential Real Estate Abstract: Research has documented a premium for housing with green amenities, on average, over sample periods. Given the increasing efficiency of green features and growing awareness of the environmental concerns in society, we posit that the relation between green amenities and transaction prices is not stationary. We find that premiums associated with green features are growing through time for residential real estate. We explain that this could be driven by a variety of factors. Our results suggest that appraisers should be careful not to make adjustments based on outdated ‘rules of thumb’ pertaining to green characteristics. Journal: Journal of Sustainable Real Estate Pages: 112-130 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091894 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091894 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:112-130 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091895_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dustin Read Author-X-Name-First: Dustin Author-X-Name-Last: Read Author-Name: Drew Sanderford Author-X-Name-First: Drew Author-X-Name-Last: Sanderford Title: Innovation Districts at the Cross road of the Entrepreneurial City and the Sustainable City Abstract: Innovation districts are designed to promote increased interaction between employees and firms in knowledge-intensive industries. They have been praised as both sustainable economic development and sustainable real estate development. Nevertheless, there has been little investigation of how those involved in the planning and development of innovation districts view the role of sustainability. In this paper, we draw on 40 semi-structured interviews with professionals associated with four innovation districts in the U.S. The results provide new insight into how these market participants perceived the components of sustainability in fostering innovation and project success. Economic attributes of sustainability were consistently emphasized as the primary driver of innovation district successes. Further, where social and environmental elements of these districts were acknowledged as factors contributing to project success, professionals tended to frame their roles in economic terms. Journal: Journal of Sustainable Real Estate Pages: 131-152 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091895 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091895 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:131-152 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091896_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Author-Name: Eunkyu Lee Author-X-Name-First: Eunkyu Author-X-Name-Last: Lee Author-Name: Albert Bragg Author-X-Name-First: Albert Author-X-Name-Last: Bragg Title: The Quadruple Bottom Line: Tenant Views of Corporate Responsibility in Green Office Buildings Abstract: This research expands the traditional triple bottom line (people, profit, and planet) by splitting profit based on benefits from resource savings or productivity enhancements. In the context of corporate real estate, the suggested quadruple bottom line (PPPP) is defined as general environmental goals (planet), employees' productivity (people), the tenant firm's profitability (profit T), and landlord's profit (profit L). Tenants' perspectives on specific sustainability categories and the relative importance of PPPP are examined through a survey of over 700 tenants in U.S. office buildings. The findings suggest that different ways of evaluating the direction of profit is warranted, because tenants' attitudes toward profit diverge significantly when landlord profit and tenant profit are considered separately based on lease structure. The results also suggest that while planet, or resource conservation, is a major priority for tenant respondents, detailed analysis of sustainability components shows that people, a proxy for occupant well-being and productivity gains, are the highest priority. This is of particular importance in sustainable real estate as new products and developments are considered. Journal: Journal of Sustainable Real Estate Pages: 153-171 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091896 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091896 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:153-171 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091897_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Dominique J. Pride Author-X-Name-First: Dominique J. Author-X-Name-Last: Pride Author-Name: Joseph M. Little Author-X-Name-First: Joseph M. Author-X-Name-Last: Little Author-Name: Marc Mueller-Stoffels Author-X-Name-First: Marc Author-X-Name-Last: Mueller-Stoffels Title: The Value of Energy Efficiency in the Anchorage Residential Property Market Abstract: The residential sector is a significant source of carbon dioxide emissions. Improving the energy efficiency of the housing stock can reduce carbon emissions and increase property values. In this paper, we examine whether residential energy efficiency improvements are capitalized into home prices in Anchorage, Alaska. The impact of a residential energy efficiency program on single-family house prices is estimated using both a hedonic pricing framework and a difference-in- differences estimator. The results indicate that participating homes sell for a premium of 4.2% compared to similar properties that did not participate in the program. Journal: Journal of Sustainable Real Estate Pages: 172-194 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091897 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091897 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:172-194 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091898_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kimberly Winson-Geideman Author-X-Name-First: Kimberly Author-X-Name-Last: Winson-Geideman Author-Name: Andy Krause Author-X-Name-First: Andy Author-X-Name-Last: Krause Author-Name: Hao Wu Author-X-Name-First: Hao Author-X-Name-Last: Wu Author-Name: Georgia Warren-Myers Author-X-Name-First: Georgia Author-X-Name-Last: Warren-Myers Title: Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens Abstract: We investigate contagion in real estate markets by evaluating the effects of a widely publicized landfill contamination event in one local market on the price of homes near landfills in non-impacted markets within the same metropolitan region. The impact of proximity to open, closed, and redeveloped landfills in the directly affected and contagion neighborhoods is tested at distances varying from <500 meters to 2,500 meters using the traditional hedonic pricing model. The results are mixed and relative to the current use of the landfill as closed, capped, and redeveloped landfills show no impact. Sites that are capped yet undeveloped and sites with open fills appear to show some impact, although further research is needed to support any contagion effects. Journal: Journal of Sustainable Real Estate Pages: 22-45 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091898 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091898 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:22-45 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091899_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Norifumi Yukutake Author-X-Name-First: Norifumi Author-X-Name-Last: Yukutake Author-Name: Satomi Sugawara Author-X-Name-First: Satomi Author-X-Name-Last: Sugawara Title: Measuring Long-term Effects of the Fukushima Daiichi Nuclear Power Plant Accident on Real Estate Prices Abstract: The Fukushima Daiichi Nuclear Power Plant accident was caused by the Great East Japan Earthquake in March, 2011. Widespread areas in eastern Japan were contaminated by the huge release of radioactive materials. We analyze the long-term effects of the accident on land prices by estimating the hedonic equation with regional fixed effects. Our estimation results show that the soil contamination by cesium-134/137 affected the surrounding land prices negatively; however, this effect disappeared after only one year. This implies that we should discreetly interpret the results in estimating the cost of the Fukushima nuclear accident by the hedonic approach. Journal: Journal of Sustainable Real Estate Pages: 3-21 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091899 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091899 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:3-21 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091900_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Iheanyichukwu Joachim Onuoha Author-X-Name-First: Iheanyichukwu Joachim Author-X-Name-Last: Onuoha Author-Name: Norhaya Kamarudin Author-X-Name-First: Norhaya Author-X-Name-Last: Kamarudin Author-Name: Godwin Uche Aliagha Author-X-Name-First: Godwin Uche Author-X-Name-Last: Aliagha Author-Name: I.U. Kalu Author-X-Name-First: I.U. Author-X-Name-Last: Kalu Author-Name: J.A. Onyike Author-X-Name-First: J.A. Author-X-Name-Last: Onyike Author-Name: S.A. Okeahialam Author-X-Name-First: S.A. Author-X-Name-Last: Okeahialam Author-Name: Ndu S.N. Okoronkwo Author-X-Name-First: Ndu S.N. Author-X-Name-Last: Okoronkwo Author-Name: Sam-Otuonye Chika Author-X-Name-First: Sam-Otuonye Author-X-Name-Last: Chika Author-Name: I.N. Alaka Author-X-Name-First: I.N. Author-X-Name-Last: Alaka Title: Green Tax Incentives and Other Demand Factors Motivating Green Commercial Property Investment Abstract: In this study, we seek to identify and model the motivating factors that influence developers' and investors' decisions to invest in green commercial properties using structural equation modeling methods. Specifically, we model the effects of green building skills and green tax incentives on demand factors influencing green commercial property investment. The study is based on a survey of 350 real estate developers in Malaysia. The results show that monetary green tax incentives and green skills have significant casual effects on demand. Among these, personal and altruistic environmental motivations, corporate conscience responsibility motivations, and economic and financial motivations are significant. Green tax incentives, however, are found to have the most significant effect on green commercial property demand and investment. Journal: Journal of Sustainable Real Estate Pages: 46-65 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091900 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091900 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:46-65 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091901_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Qinna Zhao Author-X-Name-First: Qinna Author-X-Name-Last: Zhao Author-Name: Mengling Liu Author-X-Name-First: Mengling Author-X-Name-Last: Liu Author-Name: Qi Chen Author-X-Name-First: Qi Author-X-Name-Last: Chen Title: The Impacts of Gasoline Stations on Residential Property Values: A Case Study in Xuancheng, China Abstract: In this paper, we examine the effect of gasoline stations on residential multifamily housing prices in Xuancheng, China. First, a survey examining beliefs and the Not in My Backyard (NIMBY) issues associated with gasoline stations investigated the public attitude toward the impact of gasoline stations. The results show that, although the gasoline stations have adopted advanced safety management, 86% of people believe that they will decrease nearby housing prices. Second, in March and April 2016, a hedonic pricing model was used to measure the impact of gas stations on the sales' prices of 601 residential units in 22 multifamily neighborhoods that are up to 1,000 meters from the gas stations. The results show that housing prices increase significantly with every additional kilometer from the nearest gasoline station, and the closer to the gasoline station that the house is, the more negative the impact on the housing price. The closest 100-meter band showed almost a 16% reduction in housing price, and the furthest affected band (301–600 meters) was down by almost 9%. The negative effect was not observed at distances beyond 600 meters. Journal: Journal of Sustainable Real Estate Pages: 66-85 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091901 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091901 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:66-85 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091902_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Author-Name: Andrew R. Thomas Author-X-Name-First: Andrew R. Author-X-Name-Last: Thomas Author-Name: Iryna Lendel Author-X-Name-First: Iryna Author-X-Name-Last: Lendel Author-Name: Bryan Townley Author-X-Name-First: Bryan Author-X-Name-Last: Townley Title: Fiscal and Economic Impact Analysis of Proposed Nexus Natural Gas Pipeline on the City of Green, Ohio: A Case Study Abstract: In order to provide a sustainable outlet for natural gas harvested from the fracking fields of eastern Ohio, in 2015 Nexus announced plans to build 250 miles of high-pressure natural gas transmission pipeline that would run from the source into Michigan, ultimately to Ontario, Canada. The pipeline route passes through the fast-growing City of Green, Ohio, and could disrupt development plans there. The proposed path would cause the City of Green to disproportionately bear the burden of anticipated economic losses and reduction in tax revenue associated with the pipeline. Despite substantial front-loaded ad valorem taxes paid by the pipeline utility, over a 50-year period, the pipeline is projected to cause NPV fiscal losses of over $52 million, largely from foregone property and income taxes for future development. Journal: Journal of Sustainable Real Estate Pages: 86-111 Issue: 1 Volume: 9 Year: 2017 Month: 11 X-DOI: 10.1080/10835547.2017.12091902 File-URL: http://hdl.handle.net/10.1080/10835547.2017.12091902 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:9:y:2017:i:1:p:86-111 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091903_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Sustainable Real Estate Pages: bmi-bmxvii Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091903 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091903 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091904_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmvii Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091904 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091904 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:fmi-fmvii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091905_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Preface Journal: Journal of Sustainable Real Estate Pages: 1-2 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091905 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091905 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:1-2 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091906_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Douglas S. Bible Author-X-Name-First: Douglas S. Author-X-Name-Last: Bible Author-Name: Michael C. Chikeleze Author-X-Name-First: Michael C. Author-X-Name-Last: Chikeleze Title: Leadership in Sustainability a Case Study: Green Globe Certification and Financing and the Impact on a Multifamily Property's Rate of Return Abstract: Environmental sustainability in real estate continues to be of interest, and various government incentives have emerged to encourage investment in sustainability efforts. In this detailed case study, we examine one incentive, the Federal National Mortgage Association's (Fannie Mae) Green Initiative and Green Globes certification, as applied to a newly constructed multifamily complex. Using a discounted cash flow model with several scenarios, the after-tax returns for the multifamily project are examined. In this case study, we analyze the initiative's impact on the project, showing the effects of the lower financing costs. The conclusion is that in addition to societal benefits, lower operating costs, and higher rents, the rate of return can be higher for properties that utilize Green Globe's special financing. Journal: Journal of Sustainable Real Estate Pages: 109-134 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091906 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091906 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:109-134 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091907_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Philippe Bélanger Author-X-Name-First: Philippe Author-X-Name-Last: Bélanger Author-Name: Michael Bourdeau-Brien Author-X-Name-First: Michael Author-X-Name-Last: Bourdeau-Brien Author-Name: Maxence Dumestre Author-X-Name-First: Maxence Author-X-Name-Last: Dumestre Title: The Impact of Flood Zones on Residential Property Prices: The Case of Canada Abstract: We investigate the impact of flood risk on the Canadian housing market. We combine a variety of large heterogeneous sets of data, both structured and unstructured, that allows taking into account key drivers of properties value that are otherwise difficult to control for. We infer the findings from two distinct samples composed of properties for sale and properties sold. The results suggest that high-risk location commands an average price discount of 4% even though overland flood insurance protections are mostly nonexistent in Canada. Such a discount is both economically and statistically significant and robust to the use of alternative modeling strategies. Interestingly, the discount is larger for the sold than the for sale sample, which indicates that homebuyers are aware of high-risk flood areas. Journal: Journal of Sustainable Real Estate Pages: 135-162 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091907 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091907 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:135-162 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091908_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Austin C. Otegbulu Author-X-Name-First: Austin C. Author-X-Name-Last: Otegbulu Title: Willingness to Pay for Sustainable Features in Prime Residential Submarkets of Lagos Abstract: In this study, I examine the market potential for various sustainable features by residents in Lagos prime residential submarket in the context of their willingness to pay (stated and revealed preferences) for green features. The study is of great significance as Nigeria is likely to produce a green building policy and certification standard in the near future through the Green Buildings Council of Nigeria. Data were obtained through the distribution of 150 questionnaires to households and evidence of lettings in Ikoyi and Victoria Island, the two prime residential neighborhoods in Lagos. The findings show that occupiers are willing to pay for sustainable features. The findings also indicate that poor electricity provision, dark staircases, and poor indoor air quality have a negative effect on rental price. Journal: Journal of Sustainable Real Estate Pages: 163-189 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091908 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091908 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:163-189 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091909_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Sara Wilkinson Author-X-Name-First: Sara Author-X-Name-Last: Wilkinson Author-Name: Tim Dixon Author-X-Name-First: Tim Author-X-Name-Last: Dixon Author-Name: Danny Norm Author-X-Name-First: Danny Author-X-Name-Last: Norm Author-Name: Danny Miller Author-X-Name-First: Danny Author-X-Name-Last: Miller Author-Name: Sarah Sayce Author-X-Name-First: Sarah Author-X-Name-Last: Sayce Title: The Routledge Handbook of Sustainable Real Estate Abstract: The Routledge Handbook of Sustainable Real Estate, 2018, 424 pages, published by Routledge Journal: Journal of Sustainable Real Estate Pages: 190-194 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091909 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091909 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:190-194 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091910_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Author-Name: David C. Feltman Author-X-Name-First: David C. Author-X-Name-Last: Feltman Author-Name: Alexandra A. Malkin Author-X-Name-First: Alexandra A. Author-X-Name-Last: Malkin Title: When Would Driverless Vehicles Make Downtown Parking Unsustainable, and Where Would the Driverless Car Fleet Rest During the Day? Abstract: In this study, we examine the sustainability of downtown parking in the likely advent of driverless vehicles (DVs). The confluence of driverless, electric, and fleet-owned cars is likely to influence personal car use choice of travel modes. We ask where driverless cars could be staged during the day. We review 21 available practitioner forecasts on DV adoption, and project that net demand for parking in downtown Cleveland would drop by 20%–66% by 2035. The servicing and staging needs for the expected “robotaxi” fleet of 1,300–4,300 vehicles could be accommodated by city-owned overflow parking by the lakefront airport or football sports stadium. Journal: Journal of Sustainable Real Estate Pages: 3-32 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091910 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091910 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:3-32 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091911_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Yuval Arbel Author-X-Name-First: Yuval Author-X-Name-Last: Arbel Author-Name: Danny Ben-Shahar Author-X-Name-First: Danny Author-X-Name-Last: Ben-Shahar Author-Name: Sharon Horsky Author-X-Name-First: Sharon Author-X-Name-Last: Horsky Author-Name: Naor Versano Author-X-Name-First: Naor Author-X-Name-Last: Versano Title: Time-to-Sell of New Green Housing Abstract: This research explores the time-to-sell (TTS) of green real estate. We employ data on primary market transactions in six newly developed multi-story condominiums—of which three are green and three are conventionally built—located in a single neighborhood of Netanya, Israel. We find that, after addressing the potential endogeneity between unit TTS and price, the average TTS of units in green, as compared to conventional, structures is significantly shorter. Considering developers' financing cost, this shorter TTS is equivalent to an indirect price premium of 1%–5%. We also find that whenever the indirect green premium associated with TTS decreases, the green quality-adjusted price premium increases. Thus, considering both price and TTS, we estimate a total green price premium of about 5%. Journal: Journal of Sustainable Real Estate Pages: 33-58 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091911 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091911 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:33-58 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091912_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Qinna Zhao Author-X-Name-First: Qinna Author-X-Name-Last: Zhao Author-Name: Qixin Xu Author-X-Name-First: Qixin Author-X-Name-Last: Xu Author-Name: Mengling Liu Author-X-Name-First: Mengling Author-X-Name-Last: Liu Title: Case Study: Brownfield Externalities' Valuation in Wuhan, China Abstract: Brownfields can have a number of adverse effects on the local environment and social welfare, including diminution of property values. Although many brownfield sites exist in China, there has been relatively little research done to quantify the negative externality affects there. This study considers the effects of reclaimed brownfield sites on residential property values in Wuhan City, Hubei province. A hedonic pricing model is used on the sale of more than 850 residential units in almost 31 multifamily buildings within 5 kilometers of brownfield sites in December 2015. Results show that proximate properties show decreases in their initial listing price of up to 3.3%, and using the distance-rings approach, the effect manifested as an approximately 7.4% reduction in value within the ring closest to the site. The adverse price effects diminish as the distances to the brownfield sites increase. The result for spatial autocorrelation shows that moving further away from the brownfield is associated with an increased list price, at a rate of 3.7% per kilometer, which does not change our conclusion that brownfields significantly affect housing prices. Journal: Journal of Sustainable Real Estate Pages: 59-80 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091912 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091912 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:59-80 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091913_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tunbosun B. Oyedokun Author-X-Name-First: Tunbosun B. Author-X-Name-Last: Oyedokun Author-Name: Neil Dunse Author-X-Name-First: Neil Author-X-Name-Last: Dunse Author-Name: Colin Jones Author-X-Name-First: Colin Author-X-Name-Last: Jones Title: The Impact of Green Premium on the Development of Green-labeled Offices in the U.K. Abstract: The perceived wisdom in many studies is that the establishment of a premium value is an essential prerequisite for the promotion of green buildings. This green premium is then a driver of the development of new green buildings, as well as an agent of the green transformation of the existing non-labeled properties. In this study, green premium is assessed as a potential driver of labeled office property development. Thirty-two commercial real estate professionals, working for organizations that are involved in the development, sale, letting or management of green offices, were interviewed across four cities in the United Kingdom: London, Manchester, Birmingham, and Edinburgh. The results reveal that after 15 years of an active development of green offices, the existence of a green rent premium remains elusive. Similarly, no evidence was found of a willingness to pay more to occupy green-labeled offices. The results suggest that a green premium cannot be simply seen in terms of a headline rent but more widely by reference to future income streams. Consequently, we propose a “green letting premium” as the primary motivation for the development of green offices. Our study contributes significantly to how green premium is defined, understood, and valued globally. Journal: Journal of Sustainable Real Estate Pages: 81-108 Issue: 1 Volume: 10 Year: 2018 Month: 1 X-DOI: 10.1080/10835547.2018.12091913 File-URL: http://hdl.handle.net/10.1080/10835547.2018.12091913 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:10:y:2018:i:1:p:81-108 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091914_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Back Matter Journal: Journal of Sustainable Real Estate Pages: bmi-bmxvii Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276-11.1.bmi File-URL: http://hdl.handle.net/10.22300/1949-8276-11.1.bmi File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:bmi-bmxvii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091915_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: Front Matter Journal: Journal of Sustainable Real Estate Pages: fmi-fmvii Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276-11.1.fmi File-URL: http://hdl.handle.net/10.22300/1949-8276-11.1.fmi File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:fmi-fmvii Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091916_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Title: Preface Journal: Journal of Sustainable Real Estate Pages: 1-1 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.1 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.1 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:1-1 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091917_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Andrew G. Mueller Author-X-Name-First: Andrew G. Author-X-Name-Last: Mueller Author-Name: Daniel J. Trujillo Author-X-Name-First: Daniel J. Author-X-Name-Last: Trujillo Title: The Impact of Zoning and Built Environment Characteristics on Transit, Biking, and Walking Abstract: This study furthers existing research on the link between the built environment and travel behavior, particularly mode choice (auto, transit, biking, walking). While researchers have studied built environment characteristics and their impact on mode choice, none have attempted to measure the impact of zoning on travel behavior. By testing the impact of land use regulation in the form of zoning restrictions on travel behavior, this study expands the literature by incorporating an additional variable that can be changed through public policy action and may help cities promote sustainable real estate development goals. Using a unique, high-resolution travel survey dataset from Denver, Colorado, we develop a multinomial discrete choice model that addresses unobserved travel preferences by incorporating sociodemographic, built environment, and land use restriction variables. The results suggest that zoning can be tailored by cities to encourage reductions in auto usage, furthering sustainability goals in transportation. Journal: Journal of Sustainable Real Estate Pages: 108-129 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.108 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.108 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:108-129 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091918_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Michael Brooks Author-X-Name-First: Michael Author-X-Name-Last: Brooks Author-Name: J.J. McArthur Author-X-Name-First: J.J. Author-X-Name-Last: McArthur Title: Drivers of Investment in Commercial Real Estate Sustainability: 2006–2018 Abstract: We investigate the factors (“drivers”) that motivated investment in energy efficiency in commercial real estate office buildings over the 2006–2011 and 2012–2017 period, and looking forward from 2018 in the context of growing concern over carbon emissions around the world. These insights were collected from large Canadian asset managers through interviews conducted in 2017 and 2018. Key findings were that (1) organizations noted an increasing number of factors driving investment decisions over the three periods; (2) cost drivers (payback period and anticipated financial returns) were the top two drivers in 2006–2017; (3) public relations factors became significantly more important looking forward, with brand (reputational impact) as the top-ranked driver and tenant attraction tied for third place; and (4) mitigation against risks such as resilience and anticipated compliance consistently increased in importance. This study contributes to a comprehensive understanding of past, present, and near-future sustainable real estate investment priorities, changing owner behaviors, and the perceived business case for building energy efficiency investments. Journal: Journal of Sustainable Real Estate Pages: 130-155 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.130 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.130 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:130-155 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091919_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Author-Name: A.J. Singh Author-X-Name-First: A.J. Author-X-Name-Last: Singh Title: The Impact of Green Labels on U.S. Hotel Net Operating Income: Operating Statements Analyses Abstract: This paper shows Leadership in Energy and Environmental Design (LEED) certified hospitality properties exhibit increased expenses and earn lower net operating income (NOI) than non-certified buildings. ENERGY STAR certified properties demonstrate lower overall expenses than non-certified buildings with statistically neutral NOI effects. Using a custom sample of all green buildings and their competitive data set as of 2013 provided by Smith Travel Research (STR), the paper documents potential reasons for this result including increased operational expenses, potential confusion with certified and registered LEED projects in the data, and qualitative input. The qualitative input comes from a small sample survey of five industry professionals. The paper provides one of the only analyses on operating efficiencies with LEED and ENERGY STAR hospitality properties. Journal: Journal of Sustainable Real Estate Pages: 156-173 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.156 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.156 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:156-173 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091920_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Tim Dixon Author-X-Name-First: Tim Author-X-Name-Last: Dixon Title: Measuring the Social Sustainability of New Housing Development: A Critical Review of Assessment Methods Abstract: Social sustainability is a growing area of debate in the built environment, particularly in relation to housing. Homebuilders in the United Kingdom have responded to organizational and policy drivers by developing ex post assessment frameworks to measure the social sustainability of new housing development. In this paper, I offer a critical perspective of these frameworks by: (1) examining the origins of the concept of social sustainability at the neighborhood level; (2) analyzing the critical challenges and research questions about social sustainability that the underlying methodologies raise; and, (3) how such frameworks might be improved and developed further. Journal: Journal of Sustainable Real Estate Pages: 16-39 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.16 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.16 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:16-39 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091921_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jens Hirsch Author-X-Name-First: Jens Author-X-Name-Last: Hirsch Author-Name: Maximilian Spanner Author-X-Name-First: Maximilian Author-X-Name-Last: Spanner Author-Name: Sven Bienert Author-X-Name-First: Sven Author-X-Name-Last: Bienert Title: The Carbon Risk Real Estate Monitor—Developing a Framework for Science-based Decarbonizing and Reducing Stranding Risks within the Commercial Real Estate Sector Abstract: Key obstacles to achieving the ambitious decarbonization targets determined in the Paris Agreement include the poor energy efficiency of the European commercial real estate sector and excessively low refurbishments rates due to uncertainty and a lack of transparency regarding future regulatory guidelines. This paper introduces the Carbon Risk Real Estate Monitor (CRREM), aimed at accelerating decarbonization and climate change resilience by clearly communicating the downside financial risks associated with poor energy performance buildings, and quantifying the market implications of climate change on the building stock. Science-based emission targets serve as a theoretical foundation for providing the industry with appropriate carbon reduction pathways for particular buildings at the portfolio and company levels. A key outcome of this project is a quantitative and qualitative financial risk assessment tool. The aim is to optimize industry investments in energy-efficient retrofits by making risks more transparent and by revealing opportunities for property owners and investors. The CRREM tool enables the industry to assess stranding risks, accelerating the decarbonization of the EU building stock to “2-degree readiness” (2DR) and make real estate portfolios “future proof.” Journal: Journal of Sustainable Real Estate Pages: 174-190 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.174 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.174 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:174-190 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091922_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Joseph T.L. Ooi Author-X-Name-First: Joseph T.L. Author-X-Name-Last: Ooi Author-Name: Dang D.Q. Dung Author-X-Name-First: Dang D.Q. Author-X-Name-Last: Dung Title: Finding Superior Returns in Green Portfolios: Evidence from Singapore REITs Abstract: We measure the proportion of green real estate in the asset portfolios of publicly traded real estate investments trusts (REITs) in Singapore (SREITs) using the Green Mark certification. We find that the portfolio greenness of SREITs increased from 3% in 2005 to 34% in 2017. The percentage of SREITs that have at least one property in their portfolio that is Green Mark certified had risen to 81% by end 2017. On the question of whether it is worthwhile for REITs to invest in green portfolio, we find that there is a significant relation between the “greenness” of the portfolio and its operating performance. Specifically, REITs with more green assets registered higher return on assets and operating margin. However, we did not observe any positive abnormal return (alpha) associated with portfolio greenness. Journal: Journal of Sustainable Real Estate Pages: 191-215 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.191 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.191 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:191-215 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091923_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephanie R. Yates Author-X-Name-First: Stephanie R. Author-X-Name-Last: Yates Author-Name: Lary B. Cowart Author-X-Name-First: Lary B. Author-X-Name-Last: Cowart Title: The Impact of Shuttered Golf Courses on Property Values Abstract: We measure the impact of a golf course as a residential amenity on surrounding home values in several communities in Shelby County, Alabama. We compare the values of homes in golf course communities (GCCs) and non-golf course communities, as well as the values of homes within these communities before and after the golf course closes. Using a methodology similar to Bond, Seiler, and Seiler (2002), we examine the sales prices of homes within GCCs both before and after a golf course closure to see how the closure affects the sales prices of homes and test for the significance of that difference. We calculate the difference in value for homes in GCCs before and after the golf course is closed and test for the significance of that difference. We estimate the degree to which specific factors explain the variance in home prices in these communities before and after the golf course closed. We find that homes in GCCs sell at a 9% premium compared to homes in non-GCCs. We also find that home prices in GCCs decrease by 17% after the related golf course closes; home prices for properties adjacent to a golf course diminish as well. Journal: Journal of Sustainable Real Estate Pages: 2-15 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.2 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:2-15 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091924_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Alyson Ma Author-X-Name-First: Alyson Author-X-Name-Last: Ma Author-Name: Andrew Narwold Author-X-Name-First: Andrew Author-X-Name-Last: Narwold Title: Which Way is Up? Orientation and Residential Property Values Abstract: Builders have long been cognizant of the importance of the siting of a house on a lot, whether to shelter from prevailing weather, allow better access to natural light, gain a scenic view, or more recently for optimal capture of solar energy. Using 2016–2017 sales data for the County of San Diego, we examine the market valuation of house orientation. San Diego provides a good research area as the topography does not lend itself to a grid-like pattern for the street system. Orientation is divided into eight directions (south, southeast, east, . . .) and hedonic price equations are estimated. In addition, the analysis includes proximity to a cul-de-sac and street intersection as explanatory variables. The results suggest that house orientation is a significant factor in determining house valuation. Houses oriented directly on an east-west axis command a premium over houses oriented on a north-south axis. After correcting for spatial autocorrelation, neither cul-de-sac nor intersection locations are significant factors in determining housing prices. Moreover, a robustness check using a small sample of 241 transactions provides inclusive results regarding a premium for solar panel installation. Journal: Journal of Sustainable Real Estate Pages: 40-59 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.40 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.40 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:40-59 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091925_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Lucia Gibilaro Author-X-Name-First: Lucia Author-X-Name-Last: Gibilaro Author-Name: Gianluca Mattarocci Author-X-Name-First: Gianluca Author-X-Name-Last: Mattarocci Title: Brownfield Areas and Housing Value: Evidence from Milan Abstract: Using a transaction price database, in this paper we evaluate the economic effect of abandoned and derelict real estate areas on housing prices in Milan Italy from 1993 to 2016. We find that brownfields are widespread throughout Milan, with larger abandoned and derelict areas prevalent in the suburbs. Standard hedonic price models show that nearby brownfield areas lower housing prices, with stronger effects for larger derelict and abandoned areas. Economic losses are more relevant to houses in the historical city center and are affected by real estate market trends. Journal: Journal of Sustainable Real Estate Pages: 60-83 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.60 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.60 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:60-83 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_12091926_J.xml processed with: repec_from_tfjats.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Norm G. Miller Author-X-Name-First: Norm G. Author-X-Name-Last: Miller Author-Name: Jeremy Gabe Author-X-Name-First: Jeremy Author-X-Name-Last: Gabe Author-Name: Michael Sklarz Author-X-Name-First: Michael Author-X-Name-Last: Sklarz Title: The Impact of Water front Location on Residential Home Values Considering Flood Risks Abstract: We confirm existing findings of significant premiums for waterfront proximity, more so for oceans, bays, and large lakes than rivers. We then expand research on housing price trends immediately before and after major storms in directly affected markets. Our findings support a consensus view that single-family home prices rebound quickly to prior macro trends after major storms, with little persistent negative impact on value. In addition, using elevation as a proxy for flood risks associated with sea level rise, we find inconsistent evidence that the market perceives flood risk and discounts property prices accordingly. The absence of a permanent market reaction may change as the market is exposed to increases in insurance premiums or other direct pricing of the risks. Our results suggest either a short-term horizon for buyers of coastal properties at risk, or a moral hazard problem whereby residential owners are dependent upon and subsidized by government and mispriced flood risk insurance premiums. Journal: Journal of Sustainable Real Estate Pages: 84-107 Issue: 1 Volume: 11 Year: 2019 Month: 1 X-DOI: 10.22300/1949-8276.11.1.84 File-URL: http://hdl.handle.net/10.22300/1949-8276.11.1.84 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:11:y:2019:i:1:p:84-107 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_1913389_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: J. C. Martel Author-X-Name-First: J. C. Author-X-Name-Last: Martel Title: How Business Interest Groups Matter: Rare Event Modeling of Green Building Policy in Cities Abstract: This research distinguishes among the business interest groups and community factors associated with green building policies in cities and towns to examine a specific type of business interest group—construction industry associations—involved in the green building policy arena. Rare event logit modeling is used to estimate the association of “traditional” and “green” industry groups with green building policy while controlling for various characteristics of cities. It is no surprise that the results indicate that the presence of green industry association members increases the likelihood of the presence of a green building policy. However, traditional groups do not limit the probability of a green building policy, as was expected. Community characteristics show that general revenue, population, household income, and education are all higher in cities with modern building codes, and that the average cost of energy is lower in cities with modern building codes. Journal: Journal of Sustainable Real Estate Pages: 1-15 Issue: 1 Volume: 12 Year: 2020 Month: 1 X-DOI: 10.1080/19498276.2021.1913389 File-URL: http://hdl.handle.net/10.1080/19498276.2021.1913389 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:12:y:2020:i:1:p:1-15 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_1918528_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Christopher L. Deeyah Author-X-Name-First: Christopher L. Author-X-Name-Last: Deeyah Author-Name: Victor A. Akujuru Author-X-Name-First: Victor A. Author-X-Name-Last: Akujuru Title: Enhancing Sustainability of the Niger Delta Environment through the Choice of Techniques for Valuing Contaminated Land Abstract: This paper provides an overview of the professionally accepted factors that should guide the choice of techniques for valuing contaminated land affected by oil spills to ensure environmental sustainability in the Niger Delta. We review ways to improve current valuation approaches and the various factors estate surveyors and Valuers should consider in choosing a technique(s) to adopt. We administer a questionnaire to 60 Estate Surveyors and Valuers in the Niger Delta using purposive sampling to examine the current preferred method. Forty-six questionnaires, representing 76.7% of the total, were validly answered and returned. By applying the current method to the Bodo Oil Spill as a case study, we find that the resultant compensation is hardly adequate, that it discourages recipients from continuing in their occupation prior to the contamination, aggravates the poor community’s relationship between oil exploration companies and their host communities, and reinforces the perception that oil activities cause most problems in the Niger Delta. We conclude that the continued use of predetermined compensation rates endangers the environment and results in unsustainable practices that will sooner or later destroy the entire Niger Delta ecosystem. We recommend the adoption of methods suitable to the subject contaminated property and the incorporation of the impact duration as key factors in the choice of techniques for a sustainable contaminated land valuation. Journal: Journal of Sustainable Real Estate Pages: 34-50 Issue: 1 Volume: 12 Year: 2020 Month: 1 X-DOI: 10.1080/19498276.2021.1918528 File-URL: http://hdl.handle.net/10.1080/19498276.2021.1918528 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:12:y:2020:i:1:p:34-50 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_1957417_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Germán Molina Author-X-Name-First: Germán Author-X-Name-Last: Molina Author-Name: Michael Donn Author-X-Name-First: Michael Author-X-Name-Last: Donn Author-Name: Micael-Lee Johnstone Author-X-Name-First: Micael-Lee Author-X-Name-Last: Johnstone Author-Name: Casimir MacGregor Author-X-Name-First: Casimir Author-X-Name-Last: MacGregor Title: Green Labels in Housing: Further Evidence on Their Effectiveness Abstract: Most evidence suggesting that green labels can progressively transform the housing stock into a more sustainable one has been produced through hedonic regressions, showing that certified properties are sold with a price premium. This article demonstrates that this method is likely to estimate positive green premiums even if green labels are capable of influencing the purchase decisions of only a small number of homebuyers. It is worth asking, then, how many consumers are effectively paying green premiums? Will there be more or less of them in the future? The transformative power of green labels cannot be assessed via hedonic regression analyses alone. Journal: Journal of Sustainable Real Estate Pages: 69-83 Issue: 1 Volume: 12 Year: 2020 Month: 1 X-DOI: 10.1080/19498276.2021.1957417 File-URL: http://hdl.handle.net/10.1080/19498276.2021.1957417 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:12:y:2020:i:1:p:69-83 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_1971909_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: The Editors Title: The Journal of Sustainable Real Estate Awards Best Paper Awards Prizes Sponsored by CBRE Journal: Journal of Sustainable Real Estate Pages: 84-85 Issue: 1 Volume: 12 Year: 2020 Month: 1 X-DOI: 10.1080/19498276.2020.1971909 File-URL: http://hdl.handle.net/10.1080/19498276.2020.1971909 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:12:y:2020:i:1:p:84-85 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_1915663_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Kwame Addae-Dapaah Author-X-Name-First: Kwame Author-X-Name-Last: Addae-Dapaah Author-Name: Jamie Wilkinson Author-X-Name-First: Jamie Author-X-Name-Last: Wilkinson Title: Green Premium: What is the Implied Prognosis for Sustainability? Abstract: Economic considerations underpin almost every decision to determine social priorities. It is not surprising then that sustainability has fast become, among other things, economic advocacy. This has led to a proliferation of studies to establish the provenance of a green premium to provide impetus for sustainable real estate development to drive the sustainability agenda. The extant literature is replete with studies that conclude that green buildings, which are a proxy for sustainable real estate, command a green premium, notwithstanding disagreement about the size of the green premium. We revisit the green premium debate by analyzing Building Research Establishment Environmental Assessment Method (BREEAM) certified office buildings (a proxy for green buildings) in the Greater London area to ascertain the prevalence of a green premium and to answer the following questions: is the premium truly green (green-magic)? What prognosis does the green premium provide for sustainability? The study uses quantitative analysis (a hedonic model to analyze 2,842 CoStar transaction data points from 2008 to 2018 inclusive) and psychographic analysis based on primary data from a questionnaire survey of approximately 450 BREEAM certified building owners and occupiers in the Greater London area to address the research questions. The preliminary results of the hedonic model analysis show that BREEAM certification commands a rental and price premium of 4.3% and 22.3% respectively. Furthermore, the results reveal that a higher certification level generally generates a higher premium while certified buildings in outer zones generate a higher premium than those in the CBD. In addition, the results of both the quantitative and psychographic analyses imply that the premium is more a novelty premium than green-magic. This portends a dismal prognosis for sustainability and warns that sustainability cannot be won on purely economic grounds. Finally, the results of the psychographic analyses show that there is no meeting of minds (consensus ad idem) between investors in green office buildings on one side and green office space users (tenants) on the other. The results of the study could be of interest to London green office building market participants, researchers, practitioners, and sustainability adherents. Journal: Journal of Sustainable Real Estate Pages: 16-33 Issue: 1 Volume: 12 Year: 2020 Month: 1 X-DOI: 10.1080/19498276.2021.1915663 File-URL: http://hdl.handle.net/10.1080/19498276.2021.1915663 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:12:y:2020:i:1:p:16-33 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_1937011_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert A. Simons Author-X-Name-First: Robert A. Author-X-Name-Last: Simons Author-Name: Alan Arancibia Author-X-Name-First: Alan Author-X-Name-Last: Arancibia Title: Will Driverless Vehicle Adoption Cause More Urban Sprawl or Prevent It? Abstract: Driverless vehicles (DVs) will attain substantial traction in the next 10-20 years and will affect commuting patterns and demand for parking. We study the potential correlation between DV adoption and urban sprawl. There are two primary and counteracting effects: DVs may induce more sprawl by providing a desirable commute from the suburbs; or, DVs may lessen urban sprawl by inducing the redevelopment of underutilized urban parking, thus revitalizing commercial areas. We develop sprawl indicators, and rank 15 representative U.S. metro areas. The factors include commuting time, population growth, existing urban density, state government regulation of DVs, urban walkability score, existing sprawl, and presence of parking spaces. We then rank the same metro areas on likely DV adoption. We adopt CoStar 20-year growth forecasts, assume localized FARs, and score each metro’s ability to satisfy development land with redundant parking. We conclude that Detroit, San Diego, Houston, Pittsburgh, and Sacramento would have the easiest economic path to controlling and reversing urban sprawl, while Raleigh, Washington, D.C., Boston, Phoenix, and Portland would have the hardest path under the assumed growth conditions. Central cities need to prepare metro-wide parking redevelopment infill policies or face the prospect of continued sprawl. Journal: Journal of Sustainable Real Estate Pages: 51-68 Issue: 1 Volume: 12 Year: 2020 Month: 1 X-DOI: 10.1080/19498276.2021.1937011 File-URL: http://hdl.handle.net/10.1080/19498276.2021.1937011 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:12:y:2020:i:1:p:51-68 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2006875_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jon Olaf Olaussen Author-X-Name-First: Jon Olaf Author-X-Name-Last: Olaussen Author-Name: Are Oust Author-X-Name-First: Are Author-X-Name-Last: Oust Author-Name: Jan Tore Solstad Author-X-Name-First: Jan Tore Author-X-Name-Last: Solstad Title: Real Estate Price Formation: Energy Performance Certificates and the Role of Real Estate Agents Abstract: Improving energy efficiency in buildings is a major priority of industrialized countries. By eliminating market asymmetries, Energy Performance Certificates (EPCs) is a potential policy instrument when it comes to promoting energy efficiency of real estate. Real estate agents have an important role in providing information about dwellings for sale on the market. The aim of this paper is to study whether the introduction of EPCs changes the asking price setting of real estate agents. We take advantage of the fact that the introduction of a mandatory energy certification system represents a quasi-natural experiment, where we have data on house price and asking price. Based on the analysis, both of a hedonic model and a fixed effect model, we provide evidence that the implementation of EPCs did not affect the price setting of real estate agents. This indicates that real estate agents either disregard EPCs as providers of new information or believe that the market is indifferent to this kind of information. Our results also indicate that there are large similarities between the effects of energy labels on the asking prices and the transaction prices. Journal: Journal of Sustainable Real Estate Pages: 1-11 Issue: 1 Volume: 13 Year: 2021 Month: 1 X-DOI: 10.1080/19498276.2021.2006875 File-URL: http://hdl.handle.net/10.1080/19498276.2021.2006875 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:13:y:2021:i:1:p:1-11 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2036427_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Anastasia Njo Author-X-Name-First: Anastasia Author-X-Name-Last: Njo Author-Name: Gabriella Valentina Author-X-Name-First: Gabriella Author-X-Name-Last: Valentina Author-Name: Sautma Ronni Basana Author-X-Name-First: Sautma Ronni Author-X-Name-Last: Basana Title: Willingness to Pay for Green Apartments in Surabaya, Indonesia Abstract: The lack of green building and the public’s awareness of the environment is an issue in marketing green apartments in Surabaya, Indonesia. Limited knowledge on green buildings contributes to individuals avoiding risks of purchasing or investing in green apartments. Hence, this study aims to test the effects of green attributes, indoor air quality, accessibility, land attributes, and environmental awareness toward willingness to pay (WTP) for green apartments in Surabaya. This study gathers primary data through the distribution of questionnaires to 390 respondents on green apartments in Surabaya. The data analysis technique used is PLS-SEM. The results showed that green attributes, indoor air quality, land attributes, and environmental awareness significantly influences WTP. Seventy-nine percent of the respondents are willing to pay to own a green apartment for 15% more of the total purchase price, or $670–$6,700. In line with the finding, governments, educational institutions, and property-sector stakeholders need to work together to develop net zero buildings as well as raising green building literacy in the general public to get them to care more for the environment. In a tropical and developing country, the development of green apartments should be adjusted to provide positive benefits to the environment and other sustainable developments. Journal: Journal of Sustainable Real Estate Pages: 48-63 Issue: 1 Volume: 13 Year: 2021 Month: 1 X-DOI: 10.1080/19498276.2022.2036427 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2036427 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:13:y:2021:i:1:p:48-63 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2010388_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Anjelita Cadena Author-X-Name-First: Anjelita Author-X-Name-Last: Cadena Author-Name: Thomas A. Thomson Author-X-Name-First: Thomas A. Author-X-Name-Last: Thomson Title: The Value of “Green” in Resale Residential Real Estate: Premium by Neighborhood Value Quintile, Homestead Status and Year Abstract: This paper evaluates about 146,000 home sales from the Multiple Listing Service (MLS) of Bexar County (San Antonio), Texas, from January 2009 to April 2019 to measure the extent that a home’s selling price reflects a Green premium which is identified in the MLS. We exclude new houses from this analysis. For the span of our data, we find a 4.2% increase in the sale price of Green homes, holding other features constant. When evaluated by Area (approximate selling price quintile), we find premiums of 6.9%, 5.7%, 1.2%, 3.5%, and 5.3% by order of increasing neighborhood value quintile. When assessing Homestead versus Non-Aomestead homes, we find a premium of 2.8% for Homesteads and 6.4% for Non-Homesteads. Considering the time trend, we found the premium starting under 3% in 2009 and increasing to a little over 5% where it remained for three years and decreased to about 4% in 2014 where it remained through the end of the data in 2019. Journal: Journal of Sustainable Real Estate Pages: 12-29 Issue: 1 Volume: 13 Year: 2021 Month: 1 X-DOI: 10.1080/19498276.2021.2010388 File-URL: http://hdl.handle.net/10.1080/19498276.2021.2010388 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:13:y:2021:i:1:p:12-29 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2002504_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: J. C. Martel Author-X-Name-First: J. C. Author-X-Name-Last: Martel Title: Segmenting the Construction Industry: A Quantitative Study of Business Interest Groups in a Low Salience Policy Setting Abstract: The intent of this research is to detect if business interest group involvement in urban sustainability policymaking increases or decreases the likelihood of policy adoption. Extant research reports both positive and negative effects with varying magnitude. This study segments the construction industry into distinctive categories to explain conditions under which types of business interest groups support or oppose building regulations drawing from competing theoretical angles—private and public interest group theory. It analyzes the effects of two groups—traditional construction and green building association members—on the adoption of building energy codes, a low salience policy issue that attracts technical experts more so than citizen groups. After applying web scraping algorithms, logistic regression explains the probability of code stringency given differences in the presence of trade association members in cities while controlling for demographic, social, and political factors. Findings suggest that this approach to operationalizing interest groups has merit. Despite being from the same industrial category, the segmented business interest groups have divergent effects on the local building policies with traditional construction interest groups having a greater negative effect on the odds of a city’s energy code adoption compared to the green builder interest group. Journal: Journal of Sustainable Real Estate Pages: 30-47 Issue: 1 Volume: 13 Year: 2021 Month: 1 X-DOI: 10.1080/19498276.2021.2002504 File-URL: http://hdl.handle.net/10.1080/19498276.2021.2002504 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:13:y:2021:i:1:p:30-47 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2098589_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Zayed F. Zeadat Author-X-Name-First: Zayed F. Author-X-Name-Last: Zeadat Title: Urban Green Infrastructure in Jordan: A Perceptive of Hurdles and Challenges Abstract: Jordanians live in compact cities with limited green spaces causing several environmental problems that deteriorate the urban quality of life. Many reports and studies demonstrate the benefits of urban green infrastructure (UGI) in overcoming environmental deterioration in compacted cities. Nevertheless, Urban Green Infrastructure is still lagging in many Arab countries, and Jordan is no exception. UGI refers to a strategically planned network of connected greenspace in urban areas, such as green walls, green roofs, urban trees, and hedges. This study employs the concept of UGI with a particular focus on green walls and roofs. Therefore, this research aims to investigate and determine the key barriers that impede the implementation of UGI in Jordan through qualitative and quantitative analysis. The qualitative study aims to elaborate on root causes that hinder the application of UGI. The quantitative part of the study employs a questionnaire survey to rank the significance of each barrier. This study finds that the shortage of irrigation water and the absence of incentive programs by local authorities were the top two barriers that impede the application of UGI in Jordan. Journal: Journal of Sustainable Real Estate Pages: 21-41 Issue: 1 Volume: 14 Year: 2022 Month: 12 X-DOI: 10.1080/19498276.2022.2098589 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2098589 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:21-41 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2135188_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Alexander Groh Author-X-Name-First: Alexander Author-X-Name-Last: Groh Author-Name: Hunter Kuhlwein Author-X-Name-First: Hunter Author-X-Name-Last: Kuhlwein Author-Name: Sven Bienert Author-X-Name-First: Sven Author-X-Name-Last: Bienert Title: Does Retrofitting Pay Off? An Analysis of German Multifamily Building Data Abstract: Several studies have investigated the relationship between the energy performance of buildings and housing prices. First, this paper identifies a price premium for energy efficiency within the German rental market. Then, the indexed price differences and associated marginal benefits are compared with the marginal costs of energy retrofits. An extensive database of Germany’s largest online platform for housing over a time span from 2016 to 2020 is used in a hedonic regression approach. In addition, to extract the marginal costs of energy consumption abatement, a dataset of 1048 rental units regarding green-retrofit measures is utilized. Although a significant green premium is identified in the rental market, the findings suggest that it is not high enough to compensate landlords for the money they have to spend to retrofit. The marginal costs exceed the marginal benefits by far. Furthermore, it is found that the German government’s recent plans to split the carbon tax between landlords and tenants do not change this because the price per metric ton of carbon is insufficiently high. Limitations with respect to the data basis and consequently to the interpretation of the results exist. Nevertheless, the findings can help both tenants and landlords in their decision-making, as well as policy makers in the implementation of decarbonization efforts. Journal: Journal of Sustainable Real Estate Pages: 95-112 Issue: 1 Volume: 14 Year: 2022 Month: 12 X-DOI: 10.1080/19498276.2022.2135188 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2135188 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:95-112 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2104346_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Robert Simons Author-X-Name-First: Robert Author-X-Name-Last: Simons Author-Name: Yan Xiao Author-X-Name-First: Yan Author-X-Name-Last: Xiao Author-Name: Aaron Evenchik Author-X-Name-First: Aaron Author-X-Name-Last: Evenchik Author-Name: Amanda Barreto Author-X-Name-First: Amanda Author-X-Name-Last: Barreto Title: Champlain Towers South Collapse: Frequency, Governance and Liability Issues Abstract: The tragedy of the sudden collapse of the 2021 Champlain Towers condominium building in Surfside, Florida raises issues of civil liability and throws into doubt the sustainability of the current model of condominium association governance. This case study evaluates the potential causes of the collapse, and reactions of various parties including the consulting engineering company, city regulators, condominium association board, outside property manager, original builder, and unit owners themselves. By conducting a comprehensive literature review, this paper is aimed to find out the reasons, frequency and liability of building collapse, as well as the roles condominium governance, financial modeling, poverty, or statutory language play in the tragedy. Some advice for further improvements to improve board sustainability is given to original developers, contractors, engineers, and insurance carriers. The current model of condominium management has blind spots and appears to be unsustainable. One suggestion to fix the problem is to require that insurance be obtained to insure the liability of condominium associations, including for this type of tragedy. That would create a financial risk/incentive for the insurance company to ensure adequate management and upkeep. The insurance company should also set board member expertise qualifications, insurance premiums, need for outside expertise, required inspections/maintenance, and replacement reserves that are required to maintain that coverage. Journal: Journal of Sustainable Real Estate Pages: 57-74 Issue: 1 Volume: 14 Year: 2022 Month: 12 X-DOI: 10.1080/19498276.2022.2104346 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2104346 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:57-74 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2125203_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Alexander D. Beath Author-X-Name-First: Alexander D. Author-X-Name-Last: Beath Author-Name: Sebastien Betermier Author-X-Name-First: Sebastien Author-X-Name-Last: Betermier Author-Name: Maaike Van Bragt Author-X-Name-First: Maaike Author-X-Name-Last: Van Bragt Author-Name: Yuedan Liu Author-X-Name-First: Yuedan Author-X-Name-Last: Liu Author-Name: Quentin Spehner Author-X-Name-First: Quentin Author-X-Name-Last: Spehner Title: Green Urban Development: The Impact Investment Strategy of Canadian Pension Funds Abstract: This paper investigates the investment strategy that large Canadian pension funds implement in the private real estate market. Even though they manage just 6% of global pension assets in our data, Canadian pension funds are responsible for 60% of the total value of private real estate deals that directly involve a pension fund. A key component of their strategy consists of internally developing and greening urban properties in core downtown areas. Using a common benchmarking methodology across funds, we show that this impact strategy delivers superior performance net of fees and drives the green development of major city centers. Journal: Journal of Sustainable Real Estate Pages: 75-94 Issue: 1 Volume: 14 Year: 2022 Month: 12 X-DOI: 10.1080/19498276.2022.2125203 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2125203 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:75-94 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2102624_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Saul Nurick Author-X-Name-First: Saul Author-X-Name-Last: Nurick Title: Mind over Mortar: Examining IEQ Scores and Financial Services Companies Performance Abstract: This paper investigates green buildings and organizational performance, using financial services companies (FSCs) located in green and non-green buildings. Returns of low, moderate, and high-risk investment products were used to underpin organizational performance. FSCs based in green buildings on average outperformed their competitors in non-green buildings. One statistically significant relationship (high-risk fund) was found when assessing returns and IEQ. Average green return ratios (AGRRi) determined the discount/premium of the incremental return per IEQ point of a FSC based in green building(s). However, there were individual FSCs located in non-green buildings that outperformed some of the FSCs based in green buildings. Journal: Journal of Sustainable Real Estate Pages: 42-56 Issue: 1 Volume: 14 Year: 2022 Month: 12 X-DOI: 10.1080/19498276.2022.2102624 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2102624 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:42-56 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2095699_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Stephen T. Buckman Author-X-Name-First: Stephen T. Author-X-Name-Last: Buckman Author-Name: Saeideh Sobhaninia Author-X-Name-First: Saeideh Author-X-Name-Last: Sobhaninia Title: The Impact of Sea-Level Flooding on the Real Estate Development Community in Charleston SC: Results of a ULI Member Survey Abstract: Climate change is becoming an increasing concern for many communities, particularly coastal communities subject to tidal and sea-level flooding. As a result, shoreline municipalities walk a fine line between protecting their communities and allowing more development. A prime example of this dilemma is the port city of Charleston, South Carolina, USA. Despite being ground zero for sea-level flooding, the city has seen rapid real estate development growth. This paper analyzes a survey conducted with Urban Land Institute (ULI) members in the Charleston region to understand how the real estate community is coping with and combating flooding impacts. Results show that while residential real estate developers are rethinking their development patterns, commercial developers are slow to recognize the threat of climate change impacts. The paper concludes with suggestions for policies and practices to address these threats, strengthen Charleston’s commercial real estate, and better prepare the city for a safe, prosperous future. Journal: Journal of Sustainable Real Estate Pages: 4-20 Issue: 1 Volume: 14 Year: 2022 Month: 12 X-DOI: 10.1080/19498276.2022.2095699 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2095699 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:4-20 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2065797_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Spenser J. Robinson Author-X-Name-First: Spenser J. Author-X-Name-Last: Robinson Title: RE: Enhancement and Standardization of Climate-Related Disclosures for Investors (S7-10-22) Journal: Journal of Sustainable Real Estate Pages: 1-3 Issue: 1 Volume: 14 Year: 2022 Month: 12 X-DOI: 10.1080/19498276.2022.2065797 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2065797 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:14:y:2022:i:1:p:1-3 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2174661_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Andrew G. Mueller Author-X-Name-First: Andrew G. Author-X-Name-Last: Mueller Author-Name: Stephan Weiler Author-X-Name-First: Stephan Author-X-Name-Last: Weiler Title: Spatial Models of Travel Behavior and Land Use Restriction Abstract: This paper develops a spatial econometric model of transportation mode choice and tests the association between zoning and other built environment variables and the choice of auto and non-auto transportation. We provide an extensive review of spatial econometrics and demonstrate the importance of using models that treat space formally when investigating urban transportation behavior. Using a unique combination of travel, employment, and built environment datasets from Denver, Colorado, we confirm previous results that built environment variables have a small association with choice of transportation mode and show the benefits of formal spatial modeling to the traditional probit model. Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2023.2174661 File-URL: http://hdl.handle.net/10.1080/19498276.2023.2174661 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2174661 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2180835_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Constantin Kempf Author-X-Name-First: Constantin Author-X-Name-Last: Kempf Title: Construction Costs and Initial Yield Effects of MINERGIE Certification and Sustainable Construction Measures in New Multifamily Houses in Switzerland Abstract: In this study, the influence of MINERGIE certifications, sustainable building measures that lead to certification, and further amenities and quality measures not compulsory for certification on the construction costs and net initial (asking) rents of building projects in Switzerland is investigated. The hedonic regression results show construction cost premiums of 1.6–5.1% for MINERGIE-certified apartments. These cost premiums yield higher net initial rents of approximately 2.6–6.6*% (*not significant). In contrast, most specific sustainable building measures, such as district heating, heat pumps, or solar energy, show significant cost premiums, without higher net initial rents in the market. Whereas MINERGIE certification can translate construction costs to higher net initial rents, single sustainable construction measures do not. Such an adverse cost-benefit ratio could impede specific green investments in the short term, whereas a favorable ratio of the MINERGIE standard could promote the spread of green buildings. Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2023.2180835 File-URL: http://hdl.handle.net/10.1080/19498276.2023.2180835 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2180835 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2204534_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Zayed F. Zeadat Author-X-Name-First: Zayed F. Author-X-Name-Last: Zeadat Title: Strategies toward Greater Youth Participation in Jordan’s Urban Policymaking Abstract: Seventy percent of the population in Jordan is young and urban. A plethora of research demonstrated that collaborative urban policymaking would positively impact youth’s physiological and physical welfare as well as the quality of urban planning. Nevertheless, youth participation in Jordan’s urban planning is fragile, limited, and sporadic. Youth marginalization from urban policymaking would deter sustainable urban development. Therefore, this article examines the most convenient strategy to promote the inclusion of young Jordanians in the planning practice to be fully-fledged members of society. The fuzzy Delphi method (FDM) was employed to mathematically analyze the level of importance of each suggested strategy based on the opinions of eight experts with long experience in promoting youth participation in Jordan’s public policy. Research results reveal that adopting cutting-edge communication technology is the most suitable strategy to genuinely recognize youth input, opinions, and experience in urban policymaking. Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2023.2204534 File-URL: http://hdl.handle.net/10.1080/19498276.2023.2204534 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2204534 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2268959_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Koech Cheruiyot Author-X-Name-First: Koech Author-X-Name-Last: Cheruiyot Author-Name: Kingsley Martell Author-X-Name-First: Kingsley Author-X-Name-Last: Martell Author-Name: Kyle Motani Author-X-Name-First: Kyle Author-X-Name-Last: Motani Title: Exploring the Effects of Green Portfolio on REITs’ Return Performance in South Africa Abstract: This paper investigates the extent of “greenness” of South African REITs; and whether green investments have any significant effects on the REITs return performance at the aggregate level. It used publicly-accessible green buildings and financial data obtained from the Green Building Council of South Africa’s (GBCSA) website and financial reports of 27 REITs that operate in South Africa, respectively. With only 11 REITs having green buildings in their portfolios, the results show phenomenal growth in the cumulative amount of green Gross Lettable Area (GLA) in under a decade – from a paltry 38,133 square metres of GLA in 2013, to over two million square metres of GLA in 2021. From panel analyses, consistent regression results show that green variables were positive and statistically significant across most of the estimated models. The statistically significant results imply that increased investments in green infrastructures have positive effects on REITs’ return performances. The study has implications for research and practice as far as the investments by REITs in green buildings in South Africa is concerned. Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2023.2268959 File-URL: http://hdl.handle.net/10.1080/19498276.2023.2268959 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2268959 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2224097_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Title: Potential for Legal Peril in Real Estate Climate and ESG Claims Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2023.2224097 File-URL: http://hdl.handle.net/10.1080/19498276.2023.2224097 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2224097 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2251982_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Benedikt Gloria Author-X-Name-First: Benedikt Author-X-Name-Last: Gloria Author-Name: Ben Höhn Author-X-Name-First: Ben Author-X-Name-Last: Höhn Title: Picture This: A Deep Learning Model for Operational Real Estate Emissions Abstract: We present a deep learning model estimating carbon dioxide equivalent (CO2e) emissions in the real estate sector. The model, which utilizes convolutional neural networks (CNNs) and image classification techniques, is designed to estimate CO2e emissions based on publicly available images of buildings and their corresponding emissions. Our findings show that the model has the ability to provide reasonably accurate estimations of CO2e emissions using images as the sole input. Notably, incorporating primary energy sources as additional input further improves the accuracy up to 75%. The creation of such a model is particularly important in the fight against climate change, as it allows for transparency and fast identification of buildings, contributing significantly to CO2e emissions in the building sector. Currently, information on emission intensity in the real estate sector is scarce, with only a few countries collecting and providing the required data. Our model can help reduce this gap and provide valuable insights into the carbon footprint of the real estate sector. Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2023.2251982 File-URL: http://hdl.handle.net/10.1080/19498276.2023.2251982 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2251982 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2162515_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jeremy Gabe Author-X-Name-First: Jeremy Author-X-Name-Last: Gabe Author-Name: Karen McGrath Author-X-Name-First: Karen Author-X-Name-Last: McGrath Author-Name: Spenser Robinson Author-X-Name-First: Spenser Author-X-Name-Last: Robinson Author-Name: Andrew Sanderford Author-X-Name-First: Andrew Author-X-Name-Last: Sanderford Title: An Analysis of U.S. Multi-Family Housing, Eco-Certifications, & Walkability Abstract: This paper examines the persistence of differentiated pricing in the multi-family housing related to eco-certification. In examining a sample of market rents for non-specialty, multi-family properties both across the U.S., as well as those areas that enjoy the highest concentrations of LEED certified apartments, we find rental premiums of 10.2% and 14.7%, respectively for those properties with LEED certification. The addition of the continuous Walk Score, to control for variations in urban form, results in premiums of 7.4% and 9.6%, respectively. These findings are directionally consistent with those found in earlier studies, and demonstrate a persistence in rental premiums for certified properties over time, and with increased LEED adoption. Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2022.2162515 File-URL: http://hdl.handle.net/10.1080/19498276.2022.2162515 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2162515 Template-Type: ReDIF-Article 1.0 # input file: RSRE_A_2203292_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Zhengzhen Tan Author-X-Name-First: Zhengzhen Author-X-Name-Last: Tan Author-Name: Norm G. Miller Author-X-Name-First: Norm G. Author-X-Name-Last: Miller Title: Connecting Digitalization and Sustainability: Proptech in the Real Estate Operations and Management Abstract: Digitalization of building operations and maintenance enable real-time monitoring, optimization, and automation for environment sustainability. Proptech startups are important change agents in accelerating building digitalization. While many researchers analyze economic and environmental savings from deployment of digital technology, far less attention has been devoted to challenges for proptech startups to transform efficiency gains into viable businesses. We analyze the Unissu global proptech startup database to reveal the scope and competitive landscape of proptech solutions. We conduct interviews with building owners/operators to understand what impedes the adoption of proptech solutions. Despite rapid growth, ongoing challenges remain for sustainability-focused proptech firms with three adoption barriers: (1) integration of the technology stacks; (2) integration of technology stacks with business processes; and (3) integration of owner/operators and the occupants’ solutions. Proptech with applications that work with existing infrastructure or provide more complete holistic solutions with extensive capital reserves, are more likely to survive. Other pathways include having data standardization and security protocols in place; technology partnership with technology incumbents; and effective communication with owners/operators to fill the knowledge gap. Findings can provide insights to emerging digital proptech startups as they spearhead market adoption in the real estate sector and monetize the sustainability value creation. Journal: Journal of Sustainable Real Estate Issue: 1 Volume: 15 Year: 2023 Month: 12 X-DOI: 10.1080/19498276.2023.2203292 File-URL: http://hdl.handle.net/10.1080/19498276.2023.2203292 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2203292