Why going Green makes dollars and sense

Over the last two years, southern Nevada has seen a huge increase in the amount of "green" building in both the commercial and residential sectors. Many would attribute the growing green trend with rising fuel costs and a growing awareness by the consumer of global warming. While that is a reasonable assumption, its only part of the reason why builders are going green.

As usual, its about the money and I'm not talking about the dollars that consumers will save in utility bills. Back in 2005, the Nevada Legislature debated and unanimously approved a measure to cut property taxes up to 50% for 10 years for energy-efficient construction.  The measure also lowered sales taxes for building supplies to 2% as well. For an enormous project like CityCenter, the resulting savings in taxes are huge. Other residential Las Vegas high rise condos have followed suit, seeking the LEED certification. The latest one is the Verge, located downtown.

molasky green buildingIn this slow market, these huge tax breaks could be critical in the success of a project. Both CityCenter and Verge have done very well in sales, despite the huge inventory of high rise and lofts in the Vegas valley.

However, its not just residential projects that are cashing in on the green. The Molasky commercial center (pictured above) was the first commercial green office building in Las Vegas.  The new construction at the Lied animal shelter is another green project. The new kennels use the latest green technology and are powered by solar panels mounted between the kennels. The odds are we'll be seeing a lot more of these projects in the future.

Comments

re: green building

Great post. Green building absolutely makes sense from a building and dollar perspective. One thing I noticed when I was in LV a couple of years ago, why wasn't there more of a push for solar panels on residential houses? It would seem that LV was a great place for this technology. Is it a cost issue?

Are these new building incorporating solar as well as are they merely built efficiently? Although, I am in the northeast, I always like to know if anyone in the country is building some different way (ie different technology) that can be incorporated throughout the country. I hope that you continue to post green building articles especially in the residential market. (ie green trends). Look forward to more posts! anna www.green-talk.com

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