LOCATIONAL DETERMINANTS OF LEED AND ENERGY STAR CERTIFIED PROPERTIES

Constantine Kontokosta, Franz Fuerst and Tom G. Geurts

ERES from European Real Estate Society (ERES)

Abstract: Despite the increased awareness and understanding of the benefits of sustainable design, the distribution of green buildings has not been uniform across major US cities, nor has the pace of adoption of green building practices been most rapid in cities with largest commercial business districts. The proposed project explores the locational determinants of LEED and Energy Star certified buildings across cities in the United States. Drawing on a unique database that combines data from a large number of sources and using logistic and ordinary least squares regression techniques, we intend to predict the supply of ëgreení buildings for more than 300 metropolitan markets in the US. Given the increasing importance of sustainability standards in the real estate industry and wider society, the proposed research will enhance the understanding of the locational determinants and spatial diffusion of sustainable buildings, allowing for more informed decision-making and targeted policies to maximize the share of green buildings and minimize a cityís environmental impacts. Additionally, from the perspective of the real estate industry, this research has the potential to identify markets with high demand for additional eco-certified properties.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2010_156

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