Midtown Manhattan Ranks Second in 2011 Survey of U.S. Green Real Estate Markets

Photo by SkilliShots - http://www.flickr.com/photos/skillicorn/. Used under Creative Commons

Cushman & Wakefield, in collaboration with the Northwest Energy Efficiency Alliance’s BetterBricks Initiative, recently released its second annual Green Building Opportunity Index and three New York City submarkets cracked the top ten. Midtown, Midtown South, and Downtown placed second, fourth, and seventh, respectively in the Index. One of the goals of this initiative is to assist urban planners and policymakers in examining data to understand what new policies and incentives may be useful in accelerating green building practices at the local level.

The Green Building Opportunity Index provided weighted assessments of the top 30 U.S. office markets on the basis of both real estate fundamentals and development considerations. It ranked each market on a scale across six different categories: (1) office market conditions; (2) investment potential; (3) green adoption and implementation; (4) local mandates and incentives; (5) state energy initiatives; and (6) green culture.

Out of thirty markets that were assessed, this is how the three submarkets of New York City ranked in the different categories:

  • Midtown: 3rd in office market conditions; 3rd in investment potential; 5th in green adoption and implementation; 4th in mandates and incentives; 9th in state energy initiatives; and 3rd in green culture.
  • Midtown South: 2nd in office market conditions; 2nd in investment potential; 25th in green adoption and implementation; 3rd in mandates and incentives; 8th in state energy initiatives; and 2nd in green culture.
  • Downtown: 7th in office market conditions; 7th in investment potential; 20th in green adoption and implementation; 6th in mandates and incentives; 10th in state energy initiatives; and 4th in green culture.

  • San Francisco
  • Midtown New York City
  • Washington, D.C.
  • Midtown South, New York City
  • Los Angeles
  • Boston
  • Downtown New York City
  • Portland
  • Seattle
  • Oakland
  • For a detailed review of the assessments, a 10-page national overview (also available through this link) should provide some context and clarity to the bare statistics referenced above.

    [via Architectural Record]

    About this author
    Cite: Irina Vinnitskaya. "Midtown Manhattan Ranks Second in 2011 Survey of U.S. Green Real Estate Markets" 12 Aug 2011. ArchDaily. Accessed . <https://www.archdaily.com/155466/midtown-manhattan-ranks-second-in-2011-survey-of-u-s-green-real-estate-markets> ISSN 0719-8884

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