During a client meeting last week, we were discussing making their new space build-out more sustainable. Naturally, cost was one of their main concerns. When I suggested a 2-4% cost premium, the space planner in the meeting corrected me. He said that the premium for green space (e.g. LEED-CI) has evaporated and that there is either no extra cost or there may actually be savings.
Could that be?
Apparently, yes. As the sustainability movement has grown, so have the number of material and service providers, producing a wider range of options for greening space and more price competition.
In fact, the Urban Green Council published a report last Fall (“The Cost of Green in NYC”) announced that the cost for LEED-CI interior space projects in New York City average $191 per square foot versus a cost of $204 per square foot for non LEED- CI projects.
So, I learned that building out green space is not only environmentally responsible, it’s fiscally responsible, too.