Building practices designed to reduce energy and water usage along with carbon pollution have emerged as desirable characteristics in commercial real estate in Texas. Both tenants and investors want buildings that produce less pollution and have the ability to resist the effects of climate change. A representative from the Urban Land Institute's Greenprint Center for Building Performance said that building strategies that mitigate or adapt to changing climate conditions have produced value for real estate owners.
A report from the institute indicated that buildings without sustainable designs or upgrades could decline in value. Green buildings, however, protect the value of assets and even increase it. Building owners are increasingly upgrading their buildings along sustainable guidelines to limit a property's vulnerability to climate change and bad weather. Globally, multiple real estate industry leaders have adopted green building practices to meet the expectations of tenants and avoid the drop in value predicted for properties that lack sustainable design.
Policy makers have also stepped up government regulation of environmental building standards. Although these regulations could impose additional demands on commercial real estate developers, meeting new building standards has the potential to ensure long-term value.
Both new construction and retrofits require agreements among multiple parties, such as investors, contractors and regulatory agencies. A person involved in a commercial property transaction that has hit snags could consult an attorney familiar with real estate litigation. An attorney could supply advice about how to respond to problems like contractors failing to complete a job or the need to renegotiate financing. Depending on the situation, an attorney could lead negotiations to resolve the problem or initiate a lawsuit to pursue damages in court.