Market Track The Push For eco-Friendly 50+ housing Why builders, lenders and consumers are embracing green development. By Annie Gerard + T erms like “green,” “eco-friendly,” “environmentally conscious,” “sustainable” development is well beyond the talking stages in the 50+ housing sector. Reducing utility costs and creating healthier living environments for seniors are reason enough to embrace green goals. Add in the financial and social benefits of water conservation, using sustainable/recycled materials, and minimizing environmental impacts and it’s clear that green is a win/win/win for owners, residents and the community at large. Affordable senior apartments in particular are a hotbed of green development, which is partly due to promotion by governmental housing agencies. All 50 U.S. states encourage (and often require) that affordable projects incorporate such green fundamentals as selecting sites with nearby services, exceeding Title 24 requirements and using Energy Star appliances. The January 2008 adoption of the LEED for Homes rating system dovetailed with financing inducements that already applied to affordable senior projects. For forward-thinking developers, the logical next step has been to incorporate additional green practices centered on indoor air quality, recycled and longer-lasting materials, water management, reductions in heat island effects and more. A brand new, soon-to-be-certified “Gold” LEED for Homes project, Seasons II, located in San Juan Capistrano, Calif., illustrates one acclaimed affordable builder’s launch into green development. For-profit developer MacFarlane Costa Housing Partners [MCHP] ranks among the 10 largest owners of affordable units in the country, with a portfolio of 27,000 units (274 projects in 33 states, D.C. and Puerto Rico). The 38-unit Seasons II affordable senior apartment community (built in partnership with non-profit LINC Housing Corporation) is their first project built to LEED standards. MCHP had been talking internally about enhancing their commitment to high quality affordable housing. Green development was a natural fit with the company’s social consciousness and emphasis on operating efficiencies. With potential energy savings of 30 percent or more (U.S. Green Building Council estimates) and with research documenting that lifetime savings exceed upfront costs (www.enterprisecommunity. org), going green was good for the bottom line and for future residents alike. Seasons II was already at the stage of construction drawings, so the decision to pursue LEED certification required “taking a couple of steps back and paying for some change orders” according to Kevin Horner, the firm’s vice president of project management and a LEEDaccredited professional. In addition to ensuring that the general contractor, mechanical engineer, architect and other subs were on board, MHCP had to synchronize their own departments to ensure that Seasons II would be built and ultimately operate in accordance with the rigorous LEED for Homes requirements. The city of San Juan Capistrano, Calif. had recently adopted a green building program and was “overjoyed at the prospect” of participating in the city’s first green multifamily development. 16 Winter 201 0