Real estate finance and development leaders from throughout the United States discussed sustainable and energy-efficient neighborhood planning and development at a May 13 roundtable at the Appraisal Institute’s Chicago headquarters.
The roundtable was coordinated by the Capital Markets Partnership, a nonprofit coalition of investors; investment banks; insurers and city, state, and federal agencies devoted to establishing a secondary market for sustainable and energy-efficient properties. Joining the Appraisal Institute were representatives from the city of Chicago, the Council for New Urbanism and the Illinois Chapter of the U.S. Green Building Council.
Leading the real estate valuation discussion was AI President Richard L. Borges II, MAI, SRA, who talked about how the real estate valuation profession is meeting challenges in the marketplace related to sustainable development.
Borges highlighted AI's strong leadership in education and methodological development through the Valuation of Sustainable Buildings professional development program, and thought leadership through such initiatives as its Residential Green and Energy Efficiency Addendum.
Participants also heard from Karen Weigert, Chicago’s chief sustainability officer, as well as from banking professionals seeking to finance such ventures and from developers who are working on sustainable real estate development projects.
Developers also highlighted their use of appraisal firms as valuation consultants in the pre-development stage and positioning of properties for sale.