May 3, 2024

2008 Industry Outlook

Residential Real Estate 2008

Bottoming Out: The residential market will likely hit its low this year.

Richard Westlund | 1/1/2008

Going Green


Matthew Greer
[Photo: Nicholas Von Staden]
Slower market conditions may stall the adoption of environmentally friendly green construction. “Florida already lags other states,” says Matthew Greer, CEO of Carlisle Development Group in Coconut Grove, an affordable housing developer with three LEED-certified developments under way in Florida. “The biggest problem is lack of demand for material choices — it’s hard to find low-cost shower heads and low-flow toilets in our market.”

But it is possible to incorporate energy- and water-efficient features in residential projects at all price levels, adds Greer, whose company is working with the Broward County Housing Authority on Tallman Pines, 250-unit LEED certified affordable housing project under construction in Deerfield Beach.

“Going green appeals to a higher-end buyer who is looking for a quality product or health benefits,” he says. “But we’ve found that if you’re smart about it and stay within the cost-benefit curve, you can do a lot with rental units and have happier tenants. While LEED certification is not for every project, more developers are looking for ways to incorporate those green features in new projects.”

Tags: Housing/Construction

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