Green truly is the new black in New York City. As more and more co-ops, condos and HOAs look to save money as expenses rise, more and more boards, shareholders and unit owners are exploring ways to incorporate “greening” into their building community.
Green homes are expected to grow between 29 percent to 38 percent of the residential construction market by the year 2016, which is equal to $87 billion to $114 billion of that market, according to a 2012 McGraw Hill Construction study.
According to the U.S. Green Building Council, whose Leadership in Energy and Environmental Design program is the gold standard, the residential market—from multi- to single-family, from market rate to affordable housing, is reaping the benefits of using green building techniques. Since the launch of LEED for Homes in 2008, more than 30,000 homes have received LEED for Homes certification and nearly 93,000 are registered for certification. Over half of all LEED-certified homes are in the affordable housing category, the USGBC says.
While it's common for buildings or associations of any size to have designated committees in place to help boards and management handle aesthetic, social, and other community concerns, 'green' committees are a more recent trend—though one that is gaining traction all over the country as environmental consciousness is raised.
Recycling, energy and water conservation, composting, and improving landscaping techniques and methods are just a few of the things green committees may devote themselves to working on. Let’s take a look at how the latest trend has revealed itself in New York.