Apr. 07, 2008

In search of investors, builders going green
Sustainability will be part of discussion this week at conference

DOUG SMITH

Within five years, buildings that aren't constructed to environmental sustainability standards likely will have difficulty finding investors, experts predict.

And that's motivating builders and developers nationwide to explore the whys, hows and ramifications of going green.

The Urban Land Institute, an influential education and research organization, is addressing the subject in a conference -- "Developing and Investing Green" -- that opens today at the Charlotte Convention Center with about 700 attendees.

Participants include Todd Mansfield, chairman and chief executive of Charlotte's Crosland LLC, and chairman of the 37,000-member worldwide organization.

He said Crosland, a lead sponsor of the event, has noticed "a profound shift" in the way projects are perceived over the past two years and has been impressed with how quickly the green movement has spread from a few sponsorship organizations to mainstream.

That has hit home at his company, which has just named a manager of sustainability to incorporate environmentally friendly and energy saving practices in all of its residential and commercial developments.

"To establish Crosland as a leader in sustainable development, it's not enough to talk a good game," Mansfield said. "We need to put real money, time and manpower behind it."

Sustainable development manager Jenny Vallimont, a former development manager in Crosland's retail division, has earned Leadership in Energy and Environmental Design professional accreditation.

One other person in the company is accredited, and 12 are pursuing certification.

Mansfield said Vallimont has initiated several programs, including a competition soliciting ideas from the company 350 employees on ways to "green" Crosland's offices.

The company will award a $500 prize each quarter for the most original and creative ideas. Mansfield said 110 people have entered the first competition.

Part of Vallimont's duties will be directing a sustainability team of 16 professionals representing divisions ranging from residential construction to mixed-use development.

Crosland already has begun to venture into green development.

Its 14-story Terrazzo mixed-use project of condos, shops and restaurants in Nashville, Tenn., was LEED precertified before construction started a year ago.

The master plan for Crosland's 800-acre Whitewater community near the U.S. Whitewater Center and Catawba River in west Charlotte calls for certification through Audubon International's Signature Sanctuary Program at the Gold Level, the highest awarded for environmental stewardship.

Site work has started. Home sales will begin in 2009.

The ULI conference will try to cover sustainable development through speakers and panel discussions.

Duke Energy Chairman Jim Rogers will talk about his vision of "decarbonizing" the nation's energy supply and becoming the world's most energy efficient economy.

Developers also will share green building strategies. Experts will explain green certification programs, and a panel will discuss the correlation between green practices and profits.