The Appraisal Institute has released a form intended to help analyze values of commercial buildings' energy efficient features.
The Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work. The addendum also assists investors in communicating the construction features of the property that impact income.
Appraisers, builders, energy modelers, green certifiers, architects and investors can use the addendum if a property has green features even if it is not certified. Water and energy efficient features are keys to a higher net income, and appraisers should take care to identify these features, the institute says.
"The market has many different ideas of what makes a property green, and this addendum will assist in understanding actual green features," said Institute president M. Lance Coyle, MAI, SRA. "After the construction of a building, the construction features are often forgotten, and the blueprints and specifications are often misplaced or overlooked." The form is a concise document that records green features for easy reference.
Related Stories
Modular Building | Mar 31, 2022
Rick Murdock’s dream multifamily housing factory
Modular housing leader Rick Murdock had a vision: Why not use robotic systems to automate the production of affordable modular housing? Now that vision is a reality.
Legislation | Mar 31, 2022
Bill in Washington State would fund seismic retrofits in schools
A bill recently passed by the Washington State Senate could unleash hundreds of millions of dollars for school seismic retrofits over several years.
Legislation | Mar 30, 2022
Wisconsin legislators expand the scope of interior design in the state
Legislators in Wisconsin passed a bill, quickly signed into law by the governor, that codifies holistic interior design legislation and significantly expands the scope of interior design in the state.
Legislation | Mar 28, 2022
LEED Platinum office tower faces millions in fines due to New York’s Local Law 97
One Bryant Park, also known as the Bank of America Tower, in Manhattan faces an estimated $2.4 million in annual fines when New York City’s York’s Local Law 97 goes into effect.
Codes and Standards | Mar 24, 2022
New York senate moves to speed up fossil fuel ban in new buildings
Lawmakers in the New York State Senate are backing a proposal to ban fossil fuels in new building construction three years sooner than a plan proposed by Gov. Kathy Hochul.
Codes and Standards | Mar 23, 2022
High office vacancies have cities rethinking downtown zoning
As record-high office vacancies persist in U.S. urban areas, cities are rethinking zoning policy.
Codes and Standards | Mar 22, 2022
Dept. of Energy awards $32 million for next-generation building retrofits
The U.S. Dept. of Energy has awarded a total of $32 million for more than 30 next-generation building retrofit projects that will dramatically improve affordable housing technologies, according to a DOE news release.
Legislation | Mar 18, 2022
New framework to help site community solar projects released
The Solar Energy Industries Association (SEIA) released a new report to aid policymakers in siting community solar projects.
Codes and Standards | Mar 17, 2022
Dept. of Energy seeks input on building-integrated photovoltaic systems
The U.S. Department of Energy (DOE) Solar Energy Technologies Office (SETO) and Building Technologies Office (BTO) recently issued a request for information to gather input on technical and commercial challenges and opportunities for building-integrated photovoltaic (BIPV) systems.
Legislation | Mar 16, 2022
Weak federal commercial real estate rules will hamper seizing Russian assets
Lax disclosure regulations that have made the U.S. a global hot spot for money laundering via real estate holdings will make it difficult for officials to seize properties from Russian oligarchs.