Insights From Bisnow’s “Denver New Construction and Development” Seminar
Greenworks Lending’s head of new markets and partnerships Genevieve Sherman recently served as a panelist at Bisnow’s “Denver New Construction and Development” seminar. Hosted at the Ritz Carlton in Downtown Denver, and surrounded by evidence of this city’s growth within a state that U.S. News & World Report ranks as having the best economy in the nation, the session focused on supporting the build.
Bisnow’s, Margaret Jackson reports that construction growth in Denver and beyond is such “Industry Veterans Should Talk up Construction Careers.”
From conversations and the questions addressed by fellow panelists Mark Paul of Whiting-Turner, Laura Aldrete of Denver International Airport, David Haltom of Patrinely Group and Jeremy Attema of stok Real Estate, Genevieve Sherman believes Commercial PACE can play a supporting role in the responsible redevelopment and development of the city.
“The group surmised that wellness and high-performance buildings have big ROI because workers happier to be at work, stay longer hours, are healthier, leave work less for sick days, and are more easily retained,” recalls Sherman. “This means tenants leasing space in high-performance buildings stay longer too. ROI for developers on these buildings definitely in form of utility and O&M savings but ROI on leasing and retention even bigger part of the picture.”
Features of these buildings are daylighting, Low-E glass, temperature regulation, clean air (e.g. lighting, windows, HVAC)
“C-PACE is an awesome way to finance these buildings,” continued Sherman. “Financial rewards for developers/owners in lower cost of funds. This can more than offset construction cost premium to build higher performance buildings. C-PACE assessments can also be passed to tenants who pay for utilities and receive the benefits both in terms of wellness and operational expenses when building more energy and water efficient.”
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