Like many areas of industry, property development is experiencing rapid social and economic change. Deloitte note that these changes can be considered positively, with the challenges facing the industry offering a potential for opportunity and transformation that could help drive growth and enhance efficiency. So how can sustainable development have an impact on real estate that benefits construction companies, tenants, landlords and homeowners alike?
The wider world of sustainability
When we talk about sustainability in property development, we aren't just talking about green infrastructure. This is what makes places more pleasant and helps combat climate change, but it is only part of the picture. Sustainability is actually about a lot more than that: it's about considering how we best use the land we have, how we develop a sustainable economic model for delivering new development, and - at the most basic level - how each individual property within that development can be sustainable in its own right.
Wider sustainability concerns
On a large-scale level, sustainability in property development means making local economic and social issues meet with modern environmental themes to create homes and premises that are energy efficient, high quality, and built to last. With finite space available, it's important to consider how previously occupied sites can be reused productively, maximizing the potential of the land and merging seamlessly with the surrounding physical and social landscape. This is known as brownfield development, and is an important step in protecting existing green spaces whilst still meeting demand for housing and business premises. Considerations include the shape, size and orientation of buildings, and integration of energy efficient technology such as solar systems, high performance glazing, and insulation. This can be further boosted by effective ventilation, heat recovery and air-sealed construction techniques, all of which reduce energy loss and therefore add value to a property.
Delivering development
It's also important to remember the micro side of development. The actions of individual property developers can have a huge impact on a community and how sustainable it is - and also provide a big opportunity for positive change. Think about the equipment you are using, and consider sustainability when you buy construction equipment parts. Even smaller items like skid steer tyres and tracks can make a difference - investing in long lasting, durable tyres and tracks will not only mean you have to replace them less often, but you'll have less downtime too. Technology which helps reduce noise and air pollution when equipment is being used can also be a selling point when a client is considering which company to work with, and if you're a property developer in your own right, choosing reliable and efficient equipment can not only help you save money, but build your reputation too.
Always remember the social aspect of sustainability as well - can you engage local people in construction skills training programmes, for example? Could you provide amenity space that can be enjoyed by both existing and incoming communities, helping to integrate them and make your development a success? Every small consideration contributes to the bigger picture of sustainable property development.
If everyone delivers property development sustainably, then there will be benefits both for the industry (in terms of reduced prices for materials, systems and building) and for the local, national and international wider world in terms of a better environment and durable homes for the future. The leading construction companies are already incorporating sustainability into everything they do, and now it's time for property developers to recognize how sustainability makes massive business sense in a world that is swiftly moving towards a renewable, green infrastructure invested economy.
* This is a contributed article and this content does not necessarily represent the views of realtytoday.com
