LEED for Homes is a building standard that certifies a home uses less energy, water and natural resources; creates less waste; and is healthier and more comfortable for occupants.
Thursday, October 2, 2008
What is LEED for Homes?
LEED for Homes is a building standard that certifies a home uses less energy, water and natural resources; creates less waste; and is healthier and more comfortable for occupants.
Who oversees the LEED program?
LEED was created and is administered by the U.S. Green Building Council, a nonprofit environmental organization. The certification system has been in use for more than seven years in commercial construction. LEED for homes was in introduced in 2007 and there are four levels of certification: LEED certified, LEED certified silver, LEED certified gold and LEED certified Platinum.
What is the difference between green and LEED?
Many developers offer ‘green homes’ but beware of greenwashing. LEED for Homes is changing the market because this distinction offers measurable results and savings. We built the first LEED homes in Pennsylvania and our multi-family communities will be some of the first in the country to achieve platinum certification. Right now we have the only LEED homes on the market in Philadelphia.
Are there other LEED buildings in Philadelphia?
The most prominent example of a LEED commercial construction is the Comcast Center.
Are LEED Homes more expensive?
We believe green building should be the standard not the exception and it’s important to us that our homes be priced at market rate.
We have extensive experience building sustainable homes which is why we’re able to build to LEED standards with little or no added cost. This is our competitive advantage.
We have extensive experience building sustainable homes which is why we’re able to build to LEED standards with little or no added cost. This is our competitive advantage.
Are LEED homes worth more?
The short answer is yes. However, LEED homes are just hitting the market and there isn’t enough sales data. In the commercial market LEED buildings command rent premiums of $11.33 per square foot over their non-LEED counterparts and have 4.1 percent higher occupancy rates. On the sales side, commercial LEED buildings command an incredible $171 more a square foot. These buildings command higher rents and sales prices not because of the cost but because of the demand.
The Solaire, a green residential high-rise in NY York City, brings in rents 10% to 15% higher than market rates, and in Rocklin, Calif., the LEED-certified homes in the Carsten Crossings development outsold the competition 2-to-1.
While ‘green homes’ have been on the market, the features and benefits varied so widely it was hard to assign a value. However, the LEED benchmark in the residential market delivers clear and measurable benefits to buyers. The appraisal industry is starting to recognize the value of a building’s performance and according to the Appraisal Institute in Chicago, a $1,000 savings in utility costs adds $20,000 in value to a home.
The savings and a value of LEED home will only increase up as energy prices continue to rise and the awareness of a buildings ‘life cycle costs’ become more important to buyers.
The Solaire, a green residential high-rise in NY York City, brings in rents 10% to 15% higher than market rates, and in Rocklin, Calif., the LEED-certified homes in the Carsten Crossings development outsold the competition 2-to-1.
While ‘green homes’ have been on the market, the features and benefits varied so widely it was hard to assign a value. However, the LEED benchmark in the residential market delivers clear and measurable benefits to buyers. The appraisal industry is starting to recognize the value of a building’s performance and according to the Appraisal Institute in Chicago, a $1,000 savings in utility costs adds $20,000 in value to a home.
The savings and a value of LEED home will only increase up as energy prices continue to rise and the awareness of a buildings ‘life cycle costs’ become more important to buyers.
How much can I expect to save?
- LEED homes are between 30-60% more efficient and this is verified by separate third party assessment which includes energy modeling. The results of an assessment for a home we completed last year determined it was 38.8% more energy efficient than a home built to traditional codes. LEED homes use, on average, 50% less water and divert between 50-70% of waste from landfills.
- Electric utilities across the country have raised rates up to 29% across the board because of the rising cost of oil.
- According to the U.S. Energy Information Administration last year the average cost of delivered residential propane gas was up 28% from a year earlier. Residential heating oil cost 37% more than a year earlier.
- Philadelphia faces massive electricity rate hikes not just because of increasing oil prices but because of impending deregulation, set to take effect in our region at the end of 2010. In other parts of Pennsylvania deregulation caused a 70% jump in rates; in Maryland, rates increased 72% while in Delaware rates doubled.
- The cost of water is also going up. Recently, the Philadelphia Water department announced a proposed rate increase of 30%
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