OPTIMIZING BUILDING PERFORMANCE GENERATES VALUE FOR GREEN BUILDINGS
Edmonton
o f f i c e
Vac a n c y 2013 - Q3
Citywide:
downtown-Vacancy: 6.6%
BY HAZEL M. SUTTON, BOMA CANADA
T
he many benefits of a green building will not last unless the building’s management and performance receives ongoing attention and care. The Business Case for Green Buildings1, published by the World Green Building Council, clearly outlines the enhanced value proposition associated with managing and operating a green building. Owners, managers and tenants will save money thanks to reductions in energy and water consumption along with lower long-term operations and maintenance costs. Thanks to the public commitment to sustainability, demonstrated through a green building certification such as BOMA BESt, the building will benefit from an enhanced reputation and improved marketability. These buildings more easily attract tenants and command higher rents and sale prices. A superior indoor environment, a key characteristic of green buildings and one of the core principles of the BOMA BESt certification program, can lead to better worker productivity and occupant health and well-being. Investing in your employees is good business – they are, after all, any organisation’s greatest, and most expensive, asset. Finally, a green building may have better resiliency against future regulatory demands, extreme weather event impacts and be better equipped to handle changing tenant preferences, thereby improving the in-
surability of the asset. However, these benefits will only be realized if the building itself is continuously managed for optimal performance. So what does this mean? First, it is important to understand that a building must be managed in a holistic manner, where each aspect of the building’s performance (be it water consumption, waste reduction, etc.) is understood and integrated into the overall management process. Second, building operations are influenced by many variables, with management, operations and tenants being the three primary drivers of performance. Communication, engagement and education across these three groups are essential to ensure that the value of enhanced building operations are understood and supported by all. BOMA BESt, Canada’s leading green building certification program for existing buildings, is managed by BOMA Canada and delivered by the eleven BOMA Local Associations. The program provides users with an accessible framework for assessing and certifying building performance and management. It is a tool that continues to evolve to reflect industry best practices. BOMA BESt certified buildings engage in ongoing improvement, thereby maintaining and even increasing their score at certification. That said, achieving better building performance need not mean purchasing
1 WORLD GREEN BUILDING COUNCIL (2013). THE BUSINESS CASE FOR GREEN BUILDING. RETRIEVED AT HTTP://WWW.WORLDGBC.ORG/ACTIVITIES/BUSINESS-CASE/
7.6%
Financial Vacancy: AA: A: B: C:
6.1% 8.0% 4.2% 7.0% 4.4%
Government Vacancy: A: B: C:
7.7% 10.0% 8.1% 1.7%
Suburban Vacancy: A: B: C:
9.2% 9.0% 8.5% 12.9%
office Space Absorption 2013 Q3 Citywide: 204,259-sf Downtown: 86,736-sf Suburban: 117,523-sf
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www.bomaedmonton.org | BOMA Edmonton Newsletter | December 2013
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