First, Biden has to get the pandemic under control. Duh. Unless the new Administration does so in good order, all bets are off. Once a proven vaccine becomes available, there’s the question of whether enough people will take it to create herd immunity. Masks and hand washing alone will not stop this virus, so another dose of stimulus money is going to be needed to feed the families of the Covid-unemployed and help them pay their rent.
But let’s hope for the best. Let’s say that, at some point in late 2021 or early 2022 the pandemic is largely behind us, and the economy is back up and running. What then?
One possibility might be an infrastructure package. Remember, back in 2017, when those on both sides of the political aisle were talking about how crucial it was to restore the nation’s unsafe roads, bridges, rail lines, and seaports to proper working condition? Never happened, of course. Even if both Senate runoff races in Georgia go blue, giving Biden control of both Houses of Congress, it will be difficult to get any sizable infrastructure deal. So those potholes in the roadways leading to your buildings aren’t going to vanish overnight.
Then there’s the Green New Deal. In the primary debates Biden treated the Green New Deal like the plague—as if we needed another one . But he has signed on to bits and pieces of it. He has pledged to sign the Paris Agreement on climate change “on day one” and says he wants to ban oil and gas leases on federal lands, but would only phase out fracking over an undefined period of time in places where it is currently being practiced.
Biden is pushing a $1.7 trillion clean energy plan that he says will produce millions of new jobs, particularly in solar energy, wind, and geothermal. We should be encouraging greater use of renewables in our commercial and residential buildings, which account for 40% of energy use—and resulting carbon emissions. Before we start throwing PVs on every roof in America, though, we need a program to cut the energy consumption in buildings by 60-70%. How do you do that most effectively? Through the use of proven, commonly available, low-tech solutions: more and better insulation, LED lighting, high-efficiency heating-cooling systems, and highly energy-efficient water heating systems.
Biden says he has a plan to retrofit four million buildings, weatherize two million homes, and build 1½ million sustainably designed homes and rental apartments in four years. He may have to arm wrestle a few Republican Senators to get even a piece of that plan through Congress. But if he does, it could be a boon for the multifamily real estate sector.
Related Stories
| Jul 1, 2013
Report: Global construction market to reach $15 trillion by 2025
A new report released today forecasts the volume of construction output will grow by more than 70% to $15 trillion worldwide by 2025.
| Jun 28, 2013
Building owners cite BIM/VDC as 'most exciting trend' in facilities management, says Mortenson report
A recent survey of more than 60 building owners and facility management professionals by Mortenson Construction shows that BIM/VDC is top of mind among owner professionals.
| Jun 26, 2013
Commercial real estate execs eye multifamily, retail sectors for growth, says KPMG report
The multifamily, retail, and hospitality sectors are expected to lead commercial building growth, according to the 2013 KPMG Commercial Real Estate Outlook Survey.
| Jun 25, 2013
Mirvish, Gehry revise plans for triad of Toronto towers
A trio of mixed-use towers planned for an urban redevelopment project in Toronto has been redesigned by planners David Mirvish and Frank Gehry. The plan was announced last October but has recently been substantially revised.
| Jun 25, 2013
First look: Herzog & de Meuron's Jade Signature condo tower in Florida
Real estate developer Fortune International has released details of its new Jade Signature property, to be developed in Sunny Isles Beach near Miami. The luxury waterfront condo building will include 192 units in a 57-story building near high-end retail destinations and cultural venues.
| Jun 19, 2013
New York City considers new construction standards for hospitals, multifamily buildings
Mayor Michael Bloomberg’s administration has proposed new building codes for hospitals and multifamily dwellings in New York City to help them be more resilient in the event of severe weather resulting from climate change.
| Jun 17, 2013
DOE launches database on energy performance of 60,000 buildings
The Energy Department today launched a new Buildings Performance Database, the largest free, publicly available database of residential and commercial building energy performance information.
| Jun 13, 2013
AIA partners with industry groups to launch $30,000 'Designing Recovery' design competition
The program will award a total of $30,000 to three winning designs, divided equally between three locations: Joplin, Mo., New Orleans, and New York.
| Jun 12, 2013
5 building projects that put the 'team' in teamwork
The winners of the 2013 Building Team Awards show that great buildings cannot be built without the successful collaboration of the Building Team.
| Jun 11, 2013
Vertical urban campus fills a tall order [2013 Building Team Award winner]
Roosevelt University builds a 32-story tower to satisfy students’ needs for housing, instruction, and recreation.