There's no doubt about it: Green building is red-hot today. But despite all the hype, the reality of "going green" is still confusing for many. "Developers want to know if green building is a far-out utopian dream with waterless toilets and solar heating, or if there is a practical application that makes sense and may even offer economic and marketing advantages," says Tom Baum, president of Greenbelt, Md.-based Bozzuto Development Co.
TAKE CONTROL: Spray-foam insulations can help reduce heating and cooling costs by up to 50 percent. This soy-based product from BioBased Systems is installed in liquid form and expands in seconds.
The answer: Green building is a little of both. While some green products, such as photovoltaic solar cells, are generally still too high-priced to make financial sense for multifamily applications (unless grant money offsets the cost), there are a host of green solutions that can help developers achieve both short- and long-term operational savings. From simple energy-efficient light fixtures to the more elaborate geothermal heat pump systems, both affordable and conventional multifamily developers and renovators are successfully greening their properties–and saving some green dollars of their own.
PERFECT AIM: Corbond Corp.'s spray-in-place polyurethane insulation helps reduce energy costs for buildings such as Washington Park, an affordable Chicago rental community.
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