Green Housing is Bright Spot on Otherwise Gloomy Market

The latest results from McGraw-Hill Construction show that green homeowners are satisfied and the demand for the green market is growing.

By Alanna Malone

Cloudy skies opened up just in time to let the sun shine on the proud faces of politicians, developers, and community members gathered at the affordable green building site Melrose Commons V, located in the South Bronx, for the release of McGraw-Hill Construction’s latest SmartMarket data on “green” homes.

Bronx Borough President Adolfo Carrión remarked on the timeliness of the conference on the larger scale; in the shadow of congressional action with Frannie Mae and Freddie Mac, in conjunction with the battle of the presidential candidates, and in light of the crisis of rising energy costs for families. “It just makes sense to build green,” Carrión plainly stated.

Preliminary findings from a study conducted by McGraw-Hill Construction and the U.S. Green Building Council correspond to what many in the green building sector have been saying for years. Robert Ivy, FAIA, McGraw-Hill Construction vice president and editorial director, introduced the results noting the strong demand for sustainable housing at all income levels, even in a down housing market. “The green market is growing everywhere and we are tracking the trend,” Ivy said. “70 percent of buyers are more inclined to purchase a green home over a conventional home.”

The survey estimates that within the last three years more than 330,000 market rate homes with green features have been built in the United States, representing a $36 billion per year industry. The study also questioned individuals who purchased these LEED certified and other green homes, finding the top two incentives were cost savings (tax credits, energy savings, water bill reduction, rebates, etc.) and health benefits. The overwhelming majority (83 percent) said their new homes will lower operating costs and also provide a healthier place to live. 

Another notable finding is that more than half of green homebuyers earn less than $75,000 per year. Michelle Moore, senior vice president of the U.S. Green Building Council, stressed this fact that green housing can be for everyone. “It’s affordable and accessible to people across all demographics,” Moore explained. The Melrose Commons V development, for example, will rent 63 apartments to families whose income is less than 60 percent of the median income in NYC.  The complex includes 10 wind-powered turbine engines to generate electricity, individual outside ventilation instead of central ducts, and specially designed window vents to bring fresh air into each unit.

The construction site and location is especially significant because this community has one of the highest rates of asthma in the country; one in six children in the South Bronx suffers from asthma. Dr. Elizabeth Garland, from the Mount Sinai School of Medicine, outlined new research that will examine and track the health of new residents of the Melrose Commons V homes. Previous studies have shown the impact green homes can have in reducing childhood asthma symptoms by up to 90 percent.

Namiana Filion, a schoolteacher who lives in a LEED condominium, said that her family is a great example of homeowners who are benefiting from the move to green. “My home is a special place for two important reasons: first, because my husband and I own the house, which is itself a blessing; and second, because it is a healthy and affordable place to live,” said Namiana Filion. “It’s been a wonderful experience for me and my family, for my pocket and for my environment.”

Responding to an audience member who did not care for the computational and statistical jargon, Yolanda Gonzalez, executive director of Nos Quesdamos, a coalition dedicated to the community’s redevelopment, said the bottom line was that asthma rates were down as a result of green housing. “That’s why we build the way we do,” Gonzalez concluded.

 

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