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Sustainable Development

Evaluate the latest knowledge and innovations in Sustainable Development to ascertain how property value and returns can be maximized.

There is no doubt that consumers want to see more sustainable development and smart growth. These are relatively new concepts to hedge against explosive population growth and the decline in natural resources. Municipalities are getting behind the trend too. For example, California now requires new homes to have solar panels installed on the roofs.

Sustainable development should not be another building code that a developer has to follow, but rather embraced and innovated to ultimately bring the cost of sustainable development down. The long-term benefits far outweigh the initial capital investment for both the property, and community at large.

Naturally, sustainability is built into the Quadruple Net Value qualities of a property. The social & cultural, economic, environmental, and sensory aspects of an asset encompass sustainability by being mindful of the situs and incorporating the surrounding area into the development. Either physically, or architecturally. I had the opportunity to conceptualize a hotel in downtown Midland, Texas. My group members and I came up with a design that incorporated the QNV analysis. The video below communicates what we envisioned for the property.