Advantages of Going Green 

Advantages in the Entitlement Process
Some green developers are taking advantage of fast-track permits and reduced permitting fees in their jurisdictions. Other builders are finding they have access to land they wouldn't have had otherwise.

Incentives
Incentives such as the federal Energy Efficient Builder Tax Credit are available to offset some of the cost of some green building upgrades. Many state and local governments also provide incentives for the construction of green buildings and/or use of green upgrades.

Lower Costs
While there is often a cost when switching from traditional building practices and supplies to more environmentally-friendly ones, many green building practices result in using fewer materials and generating less waste, so costs can be minimized and offset. When green practices are incorporated as standard building practice, developers can take advantage of volume discount savings, and reduced labor costs as the learning curve to implement and install different items is diffused. Each apartment community that is built green adds to the knowledge base of building science and energy efficient performance for the benefit of the entire multifamily housing industry.

Market Differentiation/Competitive Advantage
Market research indicates that many consumers perceive green homes to be a better value. Apartment communities who are able to promote features such as lower utility costs and better indoor air quality are seeing easier lease closings as well as higher occupancy rates and profitability. Studies have reported that renters, especially those of the Generation Y age group and younger, will actively seek out and possibility even pay additional rent for green apartment homes. Being able to offer this kind of value and benefit to renters can set you apart from other apartment communities. Green building is a popular topic in the media, and developers and owners associated with this initiative can take advantage of the media coverage and publicity that stem from this interest.