New Zealand’s Largest Green Property Event

14.02.2010

Green Property Summit 2011 has secured Anthony Malkin of Malkin Holdings, owner of New York’s iconic Empire State Building, as a keynote speaker. The building is undergoing a US$20 million energy saving retrofit that aims to save a maximum of US$4.4million in energy costs per year, equivalent to a 38 percent reduction in energy use. Work has included removing and upgrading 6,514 windows in the art deco building to make the building more efficient at heating or cooling. Project completion is expected by late 2013 with net extra costs recovered within three years.

One of New York’s tallest and most iconic buildings, the Empire State Building was built during the Great Depression, as a symbol of American hope and aspiration. The current retrofit hopes to be a model for economic and environmental revitalisation, with its practical focus on reducing greenhouse gas emissions, while creating economic returns that can be measured, according to Mr Malkin. “The goal with the Empire State Building has been to define intelligent choices which will either save money, spend the same money more efficiently, or spend additional sums for which there is reasonable payback through savings.

“Addressing these investments correctly will create a competitive advantage for ownership through lower costs and a better work environment for tenants.” New Zealand’s largest green property event, Green Property Summit 2011 on 24 March in Auckland is organised in partnership between the New Zealand Green Building Council and Property Council New Zealand.

Showcasing marketleading green property initiatives in New Zealand and Australia, the programme features a global green building update, the business case for green building, and examples of sustainable urban development strategy. It will also include a discussion of lessons learnt postoccupancy in New Zealand and a case study of the Pixel Building in Melbourne, slated to be Australia’s first carbon neutral office building. Australian academic Ben McNeil, author of The Clean Industrial Revolution rounds off the day with insights into opportunities for New Zealand in a clean tech world. New Zealand Green Building Council chief executive Alex Cutler said the built environment was one of the only sectors where reducing emissions can provide substantial and immediate cost benefits, rather than placing a cost burden on the taxpayer.

“Demand for integrating green building elements in new and existing stock in New Zealand is increasing. Market behaviour is changing and there are some fantastic examples of Green Star rated properties, but we are still a way behind other countries, including Australia. “The built environment in New Zealand contributes about 17 percent of total carbon emissions. This figure can be significantly reduced through integrated and environmentally responsible approaches to construction and redevelopment.

“We hope to stimulate fresh thinking and a renewed commitment to sustainable building at Green Property Summit 2011.” Property Council chief executive Connal Townsend said research indicated the value proposition of green building in New Zealand was increasing as more commercial properties were acquiring Green Star certification.

“This shows that investors are increasingly expecting property managers to understand energy and resource trends and costs, demand and regulatory considerations. It also indicates a higher return on investment and for companies engaged in green buildings, a desirable brand position and marketability.”

ENDS

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