Earth photo by Astronaut Sunita Williams
Downtown Manhattan is quickly becoming the world's greenest and most dynamic urban community. I thank the City of New York for taking leadership on this issue.
Silverstein Properties and Newest 7 World Trade Center Tenant, law firm WilmerHale,
Are First to Adopt Green Lease Language Crafted by Mayor’s PlaNYC Team
7 World Trade Center lease, which is the first to incorporate groundbreaking language crafted by industry leaders working with the Mayor’s Office of Long-Term Planning and Sustainability to promote enhanced energy efficiency and sustainability. Under traditional leases, building owners are responsible for the upfront cost of energy efficiency improvements. Tenants, however, are the immediate beneficiaries of those upgrades, in the form of reduced energy costs.
Because owners do not share in the benefit, they have little incentive to invest in energy upgrades. Building on the insights developed by the Natural Resources Defense Council (NRDC) Green Lease Forum, the Mayor’s Office of Long-Term Planning Sustainability brought together a group of real estate and energy efficiency experts and lawyer Mark Rauch to develop new commercial lease language that allows tenants, such as WilmerHale, and owners, such as Silverstein Properties, to share the costs, as well as the benefits, of energy efficiency improvements.
This agreement between Silverstein Properties and the law firm WilmerHale breaks new ground in the field of energy conservation – and we expect it will be a pioneering model for commercial leases,” said Mayor Bloomberg. “This is part of our broad campaign to increase the energy efficiency of large buildings all across the city. When it is fully realized, this ‘Greener, Greater Buildings Plan, the first of its kind in our nation – will be the equivalent of making a city the size of Oakland, California completely carbon neutral.”
Earth Day 2011, is April 22, What is your city doing? What are you doing?
Go Green for Earth Day:
If you're interested in buying a new green (LEED) certified condo in Manhattan - go to new developments fill out the buyer form and write green in the comment section. I will send you email listings of green condos that match your buying criteria.
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©Mitchell Hall 2006-20011