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Does Green Pay Off? Author to Present Calculations for Building Green at United State's Green Buildi

In the first systematic study addressing the benefits of investments in “green” buildings, Dr. Norm Miller, director of Academic Programs at the Burnham-MooresCenter for Real Estate, University of San Diego, and co-author Jay Spivey, senior director of Product Management at CoStar Group, compared office buildings that had been awarded the Energy Star label by the U.S. Environmental Protection Agency for superior energy efficiency to other similar office buildings based on size, height, class and year built. The performance of 435 Energy Star-labeled buildings and 2,871 non-Energy Star buildings across the country were studied. The 2007 research study, “Does Green Pay Off” presents evidence that:

  • Energy Star-rated buildings have higher occupancy rates and lower operating expenses than non-Energy buildings.
  • Energy Star-rated buildings observed higher rental rates by about $2 per square foot per year net in the second quarter of 2007 and $2.45 higher in the fourth quarter of 2007.
  • Energy Star-rated buildings command sales prices of 15 percent more on average when compared with non-Energy Star buildings.

Dr. Miller will present the results of the study, qualitative and quantitative data on the benefits of building green, and future outlooks relating to sustainable building practices at the San Diego Gas and Electric Metro Administration Building on Feb. 20, 5:30 to 8:30 p.m. The presentation is produced by the United States Green Building Council (USGBC) San Diego Chapter as part of its monthly “GreenMeet” educational series.

About University of San Diego’s Burnham-Moores Center for Real Estate

Respected as a high-quality real estate center for its research and industry outreach, the visionary Burnham-Moores Center for Real Estate is dedicated to being the region’s focal point for advancing socially responsible leadership in real estate. In addition to undergraduate and graduate education, the center offers a nationally recognized conference series, industry relevant research and a certificate program in real estate finance, investments and development.

About the United States Green Building Council (USGBC)

The U.S. Green Building Council (USGBC) is a nonprofit organization committed to expanding sustainable building practices. USGBC is composed of more than 12,000 organizations from across the building industry that are working to advance structures that are environmentally responsible, profitable and healthy places to live and work. Members include building owners and end-users, real estate developers, facility managers, architects, designers, engineers, general contractors, subcontractors, product and building system manufacturers, government agencies and nonprofits.

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About the University of San Diego

The University of San Diego sets the standard for an engaged, contemporary Catholic university where innovative Changemakers confront humanity’s urgent challenges. With more than 8,000 students from 75 countries and 44 states, USD is the youngest independent institution on the U.S. News & World Report list of top 100 universities in the United States. USD’s eight academic divisions include the College of Arts and Sciences, the School of Business, the Shiley-Marcos School of Engineering, the School of Law, the School of Leadership and Education Sciences, the Hahn School of Nursing and Health Science, the Joan B. Kroc School of Peace Studies, and the Division of Professional and Continuing Education. In February 2016, USD launched the public phase of Leading Change: The Campaign for USD, which represents the most ambitious fundraising effort in the history of the university and builds upon the strong philanthropic momentum achieved by USD in recent years. In September 2016, USD introduced Envisioning 2024, a strategic plan that capitalizes on the university’s recent progress and aligns new strategic goals with current strengths to help shape a vision for the future as the university looks ahead to its 75th anniversary in the year 2024.

Contact:

Pamela Gray Payton
pgray@sandiego.edu
(619) 260-4681