Going green isn't just a fad anymore. It makes financial sense for apartment and condo builders as well.

A recent survey conducted by the National Association of Home Builders (NAHB) shows that 74 percent of respondents said that "buyers and renters are willing to pay more for green amenities." And multifamily builders and developers nationwide are responding. Eighty-nine percent of respondents reported that they are installing energy-efficient appliances and lighting in their multifamily communities.

The survey also found that out of builders surveyed:  

• 79 percent are using windows with Low-E glass

• 64 percent are using recycled and recyclable products

• 50 percent are using significantly more insulation than required by the building code -- a number that rises to 70 percent of West Coast respondents.

"Apartments and condos are inherently green, because they offer more compact development to begin with," says Steve Patterson, chairman of NAHB’s Multifamily Leadership Board and an apartment and condo developer from Orlando, Fla. "With today’s heightened consumer interest in green, multifamily builders are embracing more green and recyclable products, and are more willing to invest in energy efficiency."

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Published: August 28, 2008

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