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To Green or Not to Green

Most developers would say tenants are willing to pay more to live or work in green buildings. But does that apply to college students?

By Sule Aygoren Carranza | Updated on July 02, 2012

No longer a fad or associated with granola-eating activists, environmental consciousness has become a part of everyday life. The commercial real estate industry jumped on the wagon several years ago, and now almost every property developed today has some sort of sustainable features. From including solar panels and reduced water use, to being LEED and Energy Star certified, to name just two, green development has become the norm for properties in most developed countries these days.

But sustainable building comes with a price tag, and it’s understandable that a lease in such properties would be a bit pricier than one without green features. Developers would generally tell you that tenants are willing to pay more to live or work in an environmentally friendly property. But does that apply to the student housing sector, where price is certainly a major factor in students’—and their parents’—leasing decisions?

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