Multifamily Developers Embrace Green Building
Benefits like increased energy efficiency and cost savings, combined with heightened resident demand for sustainable features, are driving builders to think about sustainability.
Alongside the development boom that Marcus & Millichap estimates will add 335,000 new multifamily units to the nation’s inventory this year, another phenomenon is emerging. As developers recognize the benefits of sustainability for both their bottom line and their residents’ quality of life, they are increasingly incorporating sustainable building materials and methods into their projects. More than 1.5 million multifamily residential units were participating in the U.S. Green Building Council’s LEED program as of March 2018, and the organization expects that number to keep rising as new projects come online.