LEED Certification -- shades of GREEN!

Much of the marketing material connected with Condominiums today will undoubtedly touch upon how GREEN a particular condominium might be, and how in-turn this might benefit the potential Buyer going forward. If we assume for the moment that GREEN is GOOD (and it is), how can we assess the nature of the GREEN reality the Developer / Builder is contemplating on building into his property, and how can you as a potential Buyer assure yourself that what you're paying for (or buying into) will actually translate into something of REAL value.

When it comes to discerning shades of GREEN, perhaps the best way to make this calculation is to refer to an already existing designation known within the industry as the " LEED " rating system. LEED is an acronym designating a system for rating buildings in accordance with just how GREEN and/or environmentally friendly they are. The acronym stands for " Leadership in Energy and Environmental Design. " As a movement this rating system started in the U.S.A. in 1998. Initially this system tended to have greater relevance within the Commercial sector(s) of the U.S.A., although slowly but surely -- the benefits of this way of building meandered into the Residential side of the construction industry as well. In Canada -- the real impact of this system (as it relates to the residential condominium industry) dates from around 2004.

More specifically -- the system awards points (up to 70 points) in six different areas including the ff.

1) Sustainable site development
2) Water conservation
3) Energy efficiency
4) Selection of Materials and
5) Indoor Air Quality, and
6) Innovation and Design Process

Given the above point system, points are accredited towards the the fulfillment of certain prerequisite requirements and a designation is accorded in conjunction with same. Folowing are the four main LEED Designations:

1) Certified (26-32 points)
2) Silver (33-38 points)
3) Gold (39-51 points) and/or
4) Platinum (52-69 points).

As can be seen, the latter and/or Platinum Standard is the highest acheivable, and in consequence the most difficult to attain. The LEED Certified standard on the other hand, is the least difficult to secure and hence also the more frequently attempted LEED standard being built.

What are the implications of all of this for anyone contemplating the purchase of a LEED designated building? First and foremost -- be prepared to pay more for a building built to these higher standards, given that it will cost the Builder / Developer more to build this way. That said -- you should in-turn reap the long-term rewards of buying into a property with these greater efficiencies. Moreover, as our industry Develops, I am quite positive that these kinds of buildings (when and where they are indeed built to a higher set of REAL standards) will appreciate more than conventionally built Condomominiums, and hence will undoubtedly return more in terms of long-term resale value.

For more information about any of the fore-going and/or how it might relate to a property you are currently considering, pls. feel free e-mail me and/or call me directly (416) 879-1076. Although the fore-going is a fairly succinct description of how the LEED system operates within our industry, the nuances and reality of how it translates within our market (here in Toronto) is a whole other issue. You might say, it's a whole other shade of GREEN!