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The Impact of LEED-Energy Star Certified Office Buildings on the Market Values of Neighboring Areas in New York City

Title
The Impact of LEED-Energy Star Certified Office Buildings on the Market Values of Neighboring Areas in New York City
Author
안용한
Keywords
LEED and/or Energy Star certified office building; market value; neighborhood area; walking distance; median unit market value
Issue Date
2019-06
Publisher
한국건설관리학회
Citation
Journal of Construction Engineering and Project Management, v. 9, No. 2, Page. 25-51
Abstract
Green building certifications are being adopted widely, and existing research continues to show an array of benefits to stakeholders of green certified buildings. However, little attention has been paid thus far to the effects these buildings may have on their surrounding neighborhoods economically. This research examined the effect of LEED and/or Energy Star certification on the neighborhoods surrounding certified office buildings from an economic standpoint with spatial and statistical analyses. This research showed the unit market value of LEED and/or Energy Star certified office buildings and the parameters of LEED and/or Energy Star certification had statistically a positive impact on the median unit market value of their neighborhood areas. The findings can provide useful insights into the possibilities for additional economic benefits of their neighborhoods, encouraging a win-win approach that enhances the local real estate market.
URI
http://www.koreascience.or.kr/article/JAKO201919163608588.pagehttp://repository.hanyang.ac.kr/handle/20.500.11754/117107
ISSN
2233-9582
DOI
10.6106/JCEPM.2019.9.2.025
Appears in Collections:
COLLEGE OF ENGINEERING SCIENCES[E](공학대학) > ARCHITECTURE(건축학부) > Articles
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