Walker / Krosinsky / Hasan Sustainable Real Estate

Multidisciplinary Approaches to an Evolving System
1. Auflage 2018
ISBN: 978-3-319-94565-1
Verlag: Springer International Publishing
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 452 Seiten

Reihe: Progress in Mathematics

This edited collection broadens the definition of sustainable real estate based on industry trends, research, and the Paris Climate Agreements. Discussions encompass existing and new buildings throughout their life cycle, the financing of their development and operations, and their impact on the surrounding environments and communities. This broader perspective provides a better understanding of the interconnected nature of the environmental, societal, communal, political, and financial issues affecting sustainable real estate, revealing the wide-ranging impact of practitioners' decisions on the sustainable real estate system. Bringing together carefully selected articles from leading global academic and practitioner experts from urban planning, design, construction, and finance, this collection brings to light new opportunities and innovative transdisciplinary solutions to as-yet unresolved problems.

Autoren/Hrsg.

Walker, Thomas

Krosinsky, Cary

Hasan, Lisa N.

Kibsey, Stéfanie D.

Inhaltsverzeichnis

1;Acknowledgments;6
2;Contents;7
3;Notes on Contributors;10
4;List of Figures;16
5;List of Pictures;19
6;List of Tables;20
7;Chapter 1: Introduction;22
7.1;References;25
8;Chapter 2: The Relevance of Real Estate in Solving Climate Change;27
9;Chapter 3: Evolutions in Sustainability and Sustainable Real Estate;31
9.1;1 Introduction;31
9.2;2 The Rise of Sustainable Development;32
9.3;3 Sustainability and Real Estate;33
9.3.1;3.1 Real Estate and the Environment;35
9.3.2;3.2 Real Estate and the Economy;37
9.3.3;3.3 Real Estate and Society;38
9.4;4 Toward Sustainable Real Estate;39
9.4.1;4.1 Current Trends;39
9.4.2;4.2 Criticism of Current Trends;41
9.4.3;4.3 The Role of Tenants, Investors, Governments and Financial Institutions;42
9.4.4;4.4 Future Directions in Sustainable Real Estate;44
9.5;5 Conclusion: Mapping the Sustainable Real Estate System;45
9.6;References;47
10;Part I: Regulatory Approaches;52
10.1;Chapter 4: Public Regulatory Trends in Sustainable Real Estate;53
10.1.1;1 Introduction;53
10.1.2;2 Strategic Planning, Development Controls and Incentives;57
10.1.2.1;2.1 Forward Planning Strategies;61
10.1.2.1.1;2.1.1 Comprehensive Planning;62
10.1.2.2;2.2 Development Controls;64
10.1.2.2.1;2.2.1 Prescriptive Zoning;65
10.1.2.2.2;2.2.2 Performance-Based Zoning;70
10.1.2.2.3;2.2.3 Prescriptive Versus Performance-Based Building Codes;72
10.1.2.3;2.3 Development Incentives;75
10.1.3;3 Mandatory Disclosure and Integrated Reporting;78
10.1.4;4 Public Procurement Standards;81
10.1.5;5 Discussion and Recommendations;85
10.1.5.1;5.1 Application of the UN SDGs to Improve Sustainability Outcomes in Strategic Planning;86
10.1.5.2;5.2 Increasing the Impact of Mandatory Disclosure and Integrated Reporting Requirements;87
10.1.5.3;5.3 Incentives that More Accurately Reflect the Value-Add of Sustainable Development;88
10.1.6;References;90
10.2;Chapter 5: A Policy Framework for Sustainable Real Estate in the European Union;95
10.2.1;1 Introduction;95
10.2.2;2 The European Union Walks the Talk on Sustainable Real Estate;96
10.2.2.1;2.1 A Common Framework of Standards and Practices;96
10.2.2.1.1;2.1.1 Member States to Save 1.5% Primary Energy and Renovate 3% of Public Buildings;97
10.2.2.1.2;2.1.2 European Standards and Labels for Products;98
10.2.2.1.3;2.1.3 Set National Requirements that Respect the Principle of Cost Optimality in Construction and Renovation;98
10.2.2.1.4;2.1.4 Construct Only Nearly Zero-Energy Building by 2021;99
10.2.2.1.5;2.1.5 Deliver Energy Performance Certificates (EPCs) to Buildings;100
10.2.2.1.6;2.1.6 Ensure Improved Connectivity in New Constructions;100
10.2.2.2;2.2 The EU Budget to Reduce Market Barriers;102
10.2.2.2.1;2.2.1 De-Risking Private Investments in Renovation;102
10.2.2.2.1.1;Structural Funds;102
10.2.2.2.1.2;Juncker Plan;104
10.2.2.2.1.3;ELENA Fund, Technical Assistance for Municipalities;104
10.2.2.2.2;2.2.2 Financing Innovation to Tackle Market Barriers;105
10.2.2.2.2.1;Setting a European Exchange Platform to Share Best Practices;105
10.2.2.2.2.2;Support the Uptake of Promising Low-Cost Renovation Techniques;105
10.2.2.2.2.3;Provide European-Wide Information on Building Stocks, Renovation and Construction Rates and Policies;106
10.2.3;3 Diversity in National Approaches;106
10.2.3.1;3.1 Countries Mapping;107
10.2.3.2;3.2 Major Challenges to Sustainable Real Estate;108
10.2.3.2.1;3.2.1 Financing the Renovation;108
10.2.3.2.1.1;Energies POSIT’IF (Ile-de-France, France);113
10.2.3.2.1.2;Picardie Pass Renovation (Picardie, France);114
10.2.3.2.1.3;Saerbeck (Germany);114
10.2.3.2.2;3.2.2 Energy Poverty;114
10.2.3.2.3;3.2.3 Smart Grid and Demand Response;117
10.2.3.3;3.3 Interesting National Initiatives;118
10.2.3.3.1;3.3.1 Brussels Region (Belgium) to Define Passive House as the Standard for Construction;119
10.2.3.3.2;3.3.2 France to Boost Renovation with a Focus on Larger Environmental Concerns;120
10.2.3.3.3;3.3.3 Germany, First on Battery Storage;121
10.2.3.3.4;3.3.4 The Netherlands, Leader in the Management of Energy Performance Certificates;121
10.2.3.3.5;3.3.5 Denmark and Finland, Leaders in Heat Recovery;121
10.2.4;4 Conclusion;122
10.2.5;References;123
11;Part II: Market-Driven Approaches;130
11.1;Chapter 6: Information or Marketing? Lessons from the History of Private-Sector Green Building Labelling;131
11.1.1;1 Introduction;131
11.1.2;2 Voluntary Environmental Building Codes;134
11.1.2.1;2.1 BREEAM, the Archetype;136
11.1.2.2;2.2 LEED;139
11.1.2.3;2.3 Green Star Australia and New Zealand;141
11.1.2.4;2.4 Voluntary Environmental Building Codes for the Residential Sector;143
11.1.3;3 Measured Building Performance Auditing;144
11.1.3.1;3.1 Energy Star;145
11.1.3.2;3.2 National Australian Built Environment Rating System;148
11.1.3.3;3.3 Display Energy Certificates;150
11.1.3.4;3.4 Multiple Attribute Rating Systems;151
11.1.4;4 WELL Building Rating;153
11.1.5;5 Critical Review on the Efficacy of Current Systems;156
11.1.5.1;5.1 Striving for the Minimum;157
11.1.5.2;5.2 Financial Returns to Labelling;158
11.1.5.3;5.3 Environmental Returns to Design- and As-Built-Stage Labelling;160
11.1.5.4;5.4 Early Outcomes from Repetitive Measured Building Performance Auditing;163
11.1.6;6 Recommendations;165
11.1.6.1;6.1 Improving the Effectiveness of Green Labelling and Reporting Tools;166
11.1.6.2;6.2 Increasing Adoption and Use of Voluntary Ratings in Regulation;167
11.1.6.3;6.3 Harmonising Benchmarking;168
11.1.6.4;6.4 Integrating Design and Operation;171
11.1.7;7 Conclusion;173
11.1.8;Appendix: Summary of Rating Schemes Reviewed;174
11.1.9;References;175
11.2;Chapter 7: Global Real Estate Sustainability Benchmarking: An Essential Tool for Real Estate Management;180
11.2.1;1 Sustainable Real Estate;180
11.2.1.1;1.1 Introduction: Historically Based Benchmarking and Future Focused Scenarios;180
11.2.1.2;1.2 Sustainable Real Estate Investing: A Need When ‘Going Concern’;182
11.2.1.3;1.3 Background of GRESB: Stimulating Responsible Real Estate Investing;184
11.2.2;2 Benchmarking;187
11.2.2.1;2.1 History and Background of Benchmarking;187
11.2.2.2;2.2 Future Focused Use of Benchmarking;188
11.2.2.3;2.3 Criteria for Benchmarking;189
11.2.2.4;2.4 Indicators for Benchmarking;191
11.2.2.5;2.5 Benchmark Types;193
11.2.2.5.1;2.5.1 Considering the Competitive Benchmarking;194
11.2.2.5.2;2.5.2 Considering the Functional Benchmarking;194
11.2.2.5.3;2.5.3 Considering the Best-Use Benchmarking;195
11.2.2.5.4;2.5.4 Considering the (International) Standards Benchmarking;195
11.2.2.6;2.6 The Multiple Kinds of Information from Benchmarking;195
11.2.2.6.1;2.6.1 Considering the Market Information;195
11.2.2.6.2;2.6.2 Considering the Entrepreneurial Information;195
11.2.2.6.3;2.6.3 Considering the Competitive Information;196
11.2.2.6.4;2.6.4 Considering the Context Information;196
11.2.2.6.5;2.6.5 Considering the Information’s Representativeness;197
11.2.2.6.6;2.6.6 Considering the Information’s Transparency;198
11.2.2.7;2.7 Benchmarking and Real Estate Investment;199
11.2.3;3 GRESB as an International Standards Benchmark;200
11.2.3.1;3.1 Global Real Estate Sustainability Benchmark: A New Type of Benchmarking;200
11.2.3.2;3.2 GRESB’s Benchmarking Characteristic;201
11.2.4;4 Productivity Improvement and GRESB;203
11.2.4.1;4.1 A Sketch of How It Is Today;203
11.2.4.2;4.2 How to React on the Placed Dot on the Horizon;204
11.2.5;5 GRESB Remarks;207
11.2.6;6 Why GRESB Should Be Further Developed;209
11.2.7;7 To Conclude;210
11.2.8;References;211
11.3;Chapter 8: Business Case for Green Buildings for Owner-Operators;212
11.3.1;1 Introduction;212
11.3.2;2 Understanding the Lifecycle Cost of Ownership;213
11.3.2.1;2.1 Lifecycle Cost Defined;213
11.3.2.2;2.2 Impact of Sustainability on the Lifecycle Cost;214
11.3.2.3;2.3 Financial Tools to Accurately Assess Return on Investment;216
11.3.3;3 Challenges Posed by Regional Economics;218
11.3.3.1;3.1 Low Energy-Cost Regions;218
11.3.3.2;3.2 Low Water-Cost Regions;220
11.3.4;4 Sustainability for New Versus Existing Building Stock;221
11.3.4.1;4.1 Implications of Improving Sustainability of Existing Buildings;221
11.3.4.2;4.2 Commissioning;223
11.3.4.3;4.3 Deep Retrofits;224
11.3.4.4;4.4 Retrofits and Green Certification Rating Systems;226
11.3.5;5 Conclusion;227
11.3.6;References;228
11.4;Chapter 9: Sustainability as an Organizational Effectiveness Tool;232
11.4.1;1 Features That Make Sustainability a Strong Organizational Effectiveness Tool;235
11.4.1.1;1.1 Long-Term Orientation;236
11.4.1.2;1.2 Change Agency;236
11.4.1.3;1.3 Presence on the Dance Floor and the Balcony;238
11.4.1.4;1.4 Need for Data;239
11.4.1.5;1.5 Cross-Functional Nature;240
11.4.1.6;1.6 Insider-Outsider Perspective;241
11.4.1.7;1.7 Inclusion of Personnel Issues;242
11.4.2;2 Opportunities for Sustainability to Improve Organizational Effectiveness;242
11.4.2.1;2.1 Process Improvement;243
11.4.2.2;2.2 Productivity Impediment Removal;243
11.4.2.3;2.3 Tenant Service;244
11.4.2.4;2.4 Occupant Satisfaction;245
11.4.2.5;2.5 Policy Usability and Compliance;246
11.4.2.6;2.6 Dumb Money to Smart Money;246
11.4.2.7;2.7 Leadership and Compensation Issue Identification;247
11.4.2.8;2.8 Interdepartmental Teamwork;248
11.4.2.9;2.9 Agility;249
11.4.2.10;2.10 Lifetime Cost Over Low-Bid Procurement;250
11.4.2.11;2.11 Talent Attraction and Retention;251
11.4.3;3 Integrating Sustainability and Organizational Effectiveness;251
11.4.4;References;252
12;Part III: Delivering Affordable, Reliable, Sustainable Energy;254
12.1;Chapter 10: Building Energy Simulation and the Design of Sustainable and Resilient Buildings;255
12.1.1;1 Building Energy Simulation and Its Application;257
12.1.2;2 A Typical Building Energy Simulation Process;259
12.1.3;3 Objectively Achieving Sustainable Building Design Goals in Energy;265
12.1.4;4 Resilient Buildings in a World of Uncertainty;268
12.1.5;5 Evaluating Design Risk to Achieve Resilient Building Design: An Economics-Based Example;271
12.1.6;6 Evaluating Design Risk to Achieve Resilient Building Design: A Weather-Based Example;277
12.1.7;7 Resilient and Sustainable Building Design: An Attainable Goal;282
12.1.8;References;283
12.2;Chapter 11: Driving Investment in High-Performance Commercial Buildings;286
12.2.1;1 Driving Investment;286
12.2.1.1;1.1 Value Analysis;289
12.2.2;2 Challenges;292
12.2.2.1;2.1 Short-Term Focus and Unaligned Solutions;293
12.2.2.2;2.2 Stakeholder Diversity and Market Fragmentation;295
12.2.3;3 Building the Tools and Measures;296
12.2.3.1;3.1 Market Linkage;297
12.2.3.2;3.2 Validating Energy Efficiency;298
12.2.3.3;3.3 Tools;299
12.2.3.3.1;3.3.1 Industry Consensus Metrics, Third-Party Standards, and Reporting;299
12.2.3.3.2;3.3.2 Access to Real-Time Numbers;299
12.2.3.3.3;3.3.3 Robust Operations and Maintenance;300
12.2.3.3.4;3.3.4 Monetizing Energy Efficiency;300
12.2.3.3.5;3.3.5 Tenant Engagement;300
12.2.3.3.6;3.3.6 Public/Private Partnerships;302
12.2.3.4;3.4 Communication Strategies, Messaging, and Transparency;302
12.2.3.4.1;3.4.1 Messaging;303
12.2.3.4.2;3.4.2 Communication Strategies and Transparency;306
12.2.4;4 Financial and Policy Mechanisms;307
12.2.4.1;4.1 Financing Mechanisms;307
12.2.4.2;4.2 Barriers;314
12.2.5;5 The Path Forward;316
12.2.6;6 Conclusion;318
12.2.7;References;321
12.3;Chapter 12: Financing Rooftop Solar for Single-Family Rental Properties;325
12.3.1;1 Background;325
12.3.2;2 The Problem for Renters;327
12.3.3;3 The Current “Solution”;328
12.3.4;4 A Superior Solution;329
12.3.5;5 Addressable Market: Single-Family Rentals;330
12.3.6;6 Why the Renter’s PPA Could Work: The Economics of Rooftop Solar;331
12.3.7;7 Hypothetical Target Company;332
12.3.8;8 Asset-Backed Securities;333
12.3.9;9 An Alternative RPPA;333
12.3.10;10 A Risk to Consider Regarding the Renter’s PPA and Rooftop Solar;334
12.3.11;11 Where This Might Work: California;335
12.3.12;12 Where This Might Work: Connecticut;336
12.3.13;13 Potential Social Impacts;337
12.3.14;14 Concluding Thoughts;337
12.3.15;References;338
13;Part IV: Sustainable Cities and Communities;340
13.1;Chapter 13: A Case for Sustainable Affordable Housing in the United States;341
13.1.1;1 Challenges in the Current Housing Market;342
13.1.1.1;1.1 Urban Sprawl;342
13.1.1.2;1.2 Housing Affordability and Accessibility;344
13.1.2;2 The Path Forward;345
13.1.2.1;2.1 Sustainable Affordable Housing;345
13.1.2.2;2.2 Sustainable Community Development;348
13.1.2.3;2.3 Public Policy Initiatives;349
13.1.2.4;2.4 Non-profit and Public Organization Support;353
13.1.2.5;2.5 Multi-disciplinary Collaboration and Innovation;354
13.1.3;3 Conclusion;356
13.2;Chapter 14: Passive House Standard: A Strategic Mean for Building Affordable Sustainable Housing in Nova Scotia;357
13.2.1;1 Housing Nova Scotia;358
13.2.2;2 Affordable Public Housing Challenges;359
13.2.3;3 HNS Sustainability Initiatives;360
13.2.4;4 The Passive House Standard;361
13.2.5;5 Passive House Case Studies: Passive House Pilot #1: 74 Alice Street, Truro;363
13.2.5.1;5.1 Project Context;363
13.2.5.2;5.2 Project Design;363
13.2.5.3;5.3 Project Construction;364
13.2.5.4;5.4 Communication, Education, and Marketing;371
13.2.6;6 Passive House Pilot #2: 831 Highway 1, Hebron Heights;372
13.2.6.1;6.1 Project Context;372
13.2.6.2;6.2 Project Design;373
13.2.6.3;6.3 Project Construction;374
13.2.7;7 Passive House Pilot #3: 7–9 Brownell Avenue, Amherst;375
13.2.7.1;7.1 Project Context;375
13.2.7.2;7.2 Project Design;379
13.2.7.3;7.3 Project Construction;379
13.2.8;8 HNS PH Pilot Projects: Lessons Learnt;383
13.2.8.1;8.1 Commissioning and Post-Occupancy;385
13.2.9;9 Concluding Remarks;385
13.2.10;References;387
13.3;Chapter 15: Sustainable Investing in Community Sporting Facilities;389
13.3.1;1 Introduction;389
13.3.2;2 Brief History of Sport;392
13.3.2.1;2.1 Dominance of Professional Sport;393
13.3.3;3 Community Sporting Facility Funding and Financing Models;394
13.3.3.1;3.1 US Municipal Bond Market;395
13.3.3.2;3.2 European Lottery Funding;396
13.3.4;4 Australia’s Community Infrastructure;397
13.3.4.1;4.1 Ad hoc Funding Creates Inequitable Distribution;398
13.3.4.2;4.2 Elite Athlete Focused Sports Policy;398
13.3.5;5 Community Asset Financing Challenges;399
13.3.5.1;5.1 Lack of Collateral;400
13.3.5.2;5.2 Lack of Reliable Revenue;400
13.3.5.3;5.3 Small Investments, Large Transaction Costs;402
13.3.5.4;5.4 Lack of Business Development Expertise;402
13.3.5.5;5.5 Lack of Suitable Organizational Structure for Raising Capital;403
13.3.6;6 Community Futures Investment Model;403
13.3.7;7 Community Bonds;404
13.3.7.1;7.1 Debentures and the Funding of Community Assets;404
13.3.7.2;7.2 How Would Community Bonds Work?;405
13.3.7.3;7.3 Setting Standards;406
13.3.8;8 Community Partnership Agreements;408
13.3.9;9 Conclusion;408
13.3.10;References;410
13.4;Chapter 16: Sustainable Real Estate in the Middle East: Challenges and Future Trends;413
13.4.1;1 Introduction;413
13.4.2;2 Sustainable Real Estate in the Middle East: The Current Status;415
13.4.2.1;2.1 Evaluation, Rating and Green Building Codes;417
13.4.2.2;2.2 Design, Construction and Post-Occupancy Evaluation;419
13.4.2.3;2.3 Urbanization and the Role of Resilience;420
13.4.3;3 Future of the Sustainable Real Estate Industry in the Middle East;422
13.4.3.1;3.1 Macro Trends: Climate, Population and Global Warming;423
13.4.3.1.1;3.1.1 Climate Change;423
13.4.3.1.2;3.1.2 Urban Population Growth;424
13.4.3.1.3;3.1.3 Global Warming;427
13.4.3.2;3.2 Macro-Level Responses to Macro-Level Trends: Rating Systems;427
13.4.3.3;3.3 Meso-Level Responses to Macro-Level Trends: Resilience;428
13.4.3.4;3.4 Micro-Level Responses to Macro-Level Trends: Materials Revolution;431
13.4.4;4 Concluding Remarks;432
13.4.5;References;433
13.5;Chapter 17: Sustainable Community Development in Nigeria: The Role of Real Estate Development;437
13.5.1;1 Introduction;437
13.5.2;2 Sustainability in Community and Real Estate Development;439
13.5.3;3 Community and Real Estate Development in Nigeria;443
13.5.4;4 Achieving Sustainable Community Development through Sustainable Real Estate;450
13.5.4.1;4.1 Technological Factor;450
13.5.4.2;4.2 Managerial Factor;451
13.5.4.3;4.3 Cultural Factor;452
13.5.5;5 Conclusion;452
13.5.6;References;453
14;Index;459