AMLI Residential, a company founded in 1980, owned by PRIME Property Fund, a core commingled institutional fund, and focused on the development, acquisition, and management of luxury apartment communities in the United States, has recently completed the first AMLI Sustainable Living Index. Residents of AMLI apartment properties were asked after their views of sustainability and green living. The survey was conducted in August of this year at properties in Atlanta, Austin, Chicago, Dallas, Denver, Houston, Seattle, Southern California and Southeast Florida.
There were 2,812 respondents. 12 percent of the respondents were younger than age 25, 47 percent were ages 25-34, 16 percent were ages 35-44, and 25 percent were 45 or older.
A majority of residents are willing to pay slightly more to live in a “green” residence
The survey indicates that a majority of residents are willing to pay slightly more to live in a “green” residence.
64% of respondents are willing to pay more for sustainable housing
84% of respondents say living in sustainable homes is important to them
85% of respondents believe living in sustainable homes is beneficial to their health.
The following features are most valued by respondents:
a smoke-free community – 94% of respondents
energy- and water-efficient features – 93% of respondents
access to public transit/ strong walk and bike scores – 85% of respondents
77% of respondents report that AMLI’s green living features have saved them money in utility costs.
Resilience
AMLI Vice President of Sustainability Erin Hatcher discusses the resilience factor. Buildings can be made more resilient to environmental, market, and regulatory risks through the incorporation of a holistic features. “Utility price increases, unpredictable power outages and other unforeseen events just don’t affect them as much as their less environmentally-friendly counterparts.”
Sustainability is good business when done right & done smart
Ms. Hatcher reports:
“Sustainability is good business when done right and done smart. In multifamily residential, a developer should consider a sustainably holistic approach that includes value adds for the resident, our buildings, and the immediate communities where they reside. Operating costs, and ultimately residents’ utility bills, can be reduced through LEED-targeted construction, as well as efficient HVAC, lighting, and water systems. These […] enhance both the resident experience and asset values. Efficient systems can go far to decrease the wear-and-tear (i.e., maintenance costs) on the property’s equipment and the overall power and water grids, too.
“Green buildings are also more resilient to environmental factors. Utility price increases, unpredictable power outages and other unforeseen events just don’t affect them as much as their less environmentally-friendly counterparts. Similarly, avoiding potentially harmful building materials promotes the longevity of our buildings and the health of residents who live in them. More frequent fresh air exchanges and non-smoking policies at sustainable communities add to the health benefits. Keeping residents safe and comfortable in their home is always top priority, but that need not conflict with our sustainable mission, nor erode the bottom line.
“Sustainability on the community level is often overlooked, yet is a by-product of any eco-conscious development. Adding green space and rainwater management features such as rain gardens or ponds have great civic potential at a low cost. These efforts provide scenic, natural amenities for building residents and the community at-large, while reducing the loads on shared, often aged community infrastructure, especially storm-water drainage.”
Twenty-eight AMLI properties (more than one-third of the company’s portfolio) are LEED (Leadership in Energy and Environmental Design) certified and 15 AMLI communities are ENERGY STAR certified.
AMLI received two awards this month from the U.S. Green Building Council (USGBC):
the Outstanding Multi-Family Developer LEED Homes award for its outstanding leadership and innovation in the residential green building marketplace, and
the LEED Power Builder award, which recognizes developers that certify at least 90 percent of their units built in the past year.
AMLI currently owns and manages 59 apartment communities including more than 19,900 apartment homes and has approximately 4,600 additional apartment homes under development at 14 new properties.
See:
“Residents Will Pay More for Sustainable Spaces, Says Survey” | Jennifer Hermes, Environmental Leader, 20 September 2017
“New Survey: 84 Percent of Residents Say Living in a Green Home is Important to Them; 85 Percent Believe Living in a Green Home Benefits Their Health” | Business Wire, a Berkshire Hathaway Company, 18 September 2017
“Leaders Unveil Their Secrets: Business Case for Environmental Stewardship” | Jennifer Hermes, Environmental Leader, 18 July 2017
“Bricks, Mortar, and Carbon | How Sustainable Buildings Drive Real Estate Value” | Morgan Stanley Institute for Sustainable Investing, March 2016
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