Routledge Handbook of Sustainable Real Estate: 1st Edition (Hardback) book cover

Routledge Handbook of Sustainable Real Estate

1st Edition

Edited by Sara Wilkinson, Tim Dixon, Norm Miller, Sarah Sayce

Routledge

424 pages

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pub: 2018-03-07
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Description

With the built environment contributing almost half of global greenhouse emissions, there is a pressing need for the property and real estate discipline to thoroughly investigate sustainability concerns. The Routledge Handbook of Sustainable Real Estate brings together the latest research of leading academics globally, demonstrating the nature and extent of the impact as well as suggesting means of mitigating humankind's impact and building resilience. Four sections examine the different aspects of sustainable real estate:

  • governance and policy
  • valuation, investment and finance
  • management
  • redevelopment and adaptation.

Covering all land uses from residential to commercial, retail and industrial, the Routledge Handbook of Sustainable Real Estate is an exciting mixture of received wisdom and emerging ideas and approaches from both the developed and developing world. Academics, upper-level students and researchers will find this book an essential guide to the very best of sustainable real estate research.

Reviews

"A critical book for all corporate property and mass market housing developers. The chapters show that there are real pockets of deeper innovation and embedded sustainability practice in the market. Niches being developed that will help these companies to have a market advantage as the implications of future climate change and other ecological challenges reach consumer awareness." - Dominique Hes, Director, Thrive research hub

"For those involved in real estate either as a user, provider or consultant there can be no doubt that sustainability is a key challenge that simply cannot be ignored. The Handbook of Sustainable Real Estate brings together the work of highly experienced practitioners who, through their dedicated research and passion for the subject, provide a valuable and informed commentary upon many of the difficult issues that face us in our day-to-day activities. With sections on Governance, Valuation and Investment, Management and Redevelopment the book provides a well-balanced font of knowledge that will help students, decision and policy makers alike. I commend the handbook to those that embrace sustainability in all its forms and also to those who are yet to be persuaded." - Trevor Rushton FRICS FCABE ACI Arb, Technical Director, Watts Group Limited

"The Handbook of Sustainable Real Estate provides fascinating insights into the fundamental changes needed to ensure that property makes a substantive contribution to a sustainable future. The book employs a mix of detailed analyses and synoptic reflection to demonstrate the interlinked nature of the economic, social, cultural, organisational, technical and governance influences upon the emergence of a genuinely sustainable built environment. Drawing on international experience and expertise, it highlights the challenges of establishing agreed definitions and measures of sustainable buildings and their features, of incorporating these into real estate policy and practice, and of ensuring that their application produces robust evidence of sustainable buildings’ performance. Ways must be found for all real estate actors – developers, investors, occupiers and professional intermediaries such as appraisers – to engage with this process, even though may have ostensibly differing interests. The book shows that a promising start has been made to this process, but that much more needs to be done." - John Henneberry, Professor of Property Development, University of Sheffield, UK

"Working in sustainable real estate, one quickly comes to recognise that it is about a dynamic and active system where the sum, ‘Place making’, is far bigger than the parts, ‘Buildings’. As said Sir Patrick Geddes said "A city is more than a place in space, it is a drama in time". Sustainable place making is both integral to and drives how we live and work and enjoy the locations we inhabit. It also offers solutions for many societal and systemic problems faced by our societies today, from climate to health and well-being. The handbook is a comprehensive guide that challenges our understanding of why, how and what sustainable place making and green buildings can and should contribute to the drama of our life." - Tatiana Bosteels, Head of Responsible Property Investment, Hermes Investment Management

"Must be the most comprehensive collection of research and informed opinion to date on sustainable real estate. Reflecting the international dimension and reinforcing the argument that there are no borders regarding climate change, the editors of the handbook have brought together chapter contributions from leading researchers in sustainability in the built environment. Developed around key themes of governance and policy; valuation, investment and finance; management; and redevelopment and adaption issues the handbook stresses current deficiencies and deficits in issues central to the real estate sector stressing while technology and innovation have created new business landscapes, the professional real estate sector needs to upskill and provide leadership in creating a sustainable built environment. One of the most significant challenges identified in many of the individual chapters is the need to retrofit the existing building stock both commercial and residential property. A key message from the handbook is the need for sustained activity from public sector policy makers, building owners, professional surveyors and the financial sector in developing products and delivery vehicles to achieve energy efficiency targets and make the sector investable." - Professor Stanley McGreal, Director of the Built Environment Research Institute, Ulster University, UK

Table of Contents

Editor biographies

Contributor biographies

Foreword by Theddi Wright Chappell

Acknowledgements

Part 1 Governance and policy

Chapter 1 Sustainable real estate: a snapshot of where we are

Sara Wilkinson, Norm Miller, Tim Dixon and Sarah Sayce

Chapter 2 Sustainable real estate and corporate responsibility

Norm Miller and Dave Pogue

Chapter 3 Energy upgrades in commercial property: Minimum energy efficiency standards, compliance pathways, and leases in the UK

Julia Patrick, Susan Bright, and Kathryn B. Janda

Chapter 4 Voluntary programs for low-carbon building development and transformation: Lessons from the United States

Jeroen van den Heijden

Chapter 5 Sustainable office retrofit in Melbourne

Sara Wilkinson

Chapter 6 International standards: Key to unlocking the value of green buildings?

Ben Elder

Part 2 Valuation, investment and finance

Chapter 7 Valuing sustainability in commercial property in Australia

Georgia Warren-Myers

Chapter 8 Existing building retrofits: Economic payoff.

Norm Miller and Nils Kok

Chapter 9 Building sustainability into valuation and worth

Sarah Sayce

Chapter 10 Green REITS

David Parker

Chapter 11 US green REITS

Vivek Sah and Norm Miller

Chapter 12 The ‘green value’ proposition in real estate: A meta-analysis

Ben Dalton and Dr Franz Fuerst

Chapter 13 Sustainability and housing value in Victoria, Australia

Neville Hurst and Sara Wilkinson

Part 3 Management

Chapter 14 Corporate real estate management: The missing link in sustainable real estate

Christopher Heywood

Chapter 15 The burgeoning influence of sustainability in managing UK retail property

Jessica Ferm and Nicola Livingstone

Chapter 16 Sustainable facilities management

Paul Appleby

Chapter 17 Building Energy Efficiency Certificates and commercial property: The Australian experience

Clive Warren

Chapter 18 Workplace ecology

Craig Langston and Abdallah Al-khawaja

Chapter 19 Creating a green index based on tenant demand for sustainable office buildings and features

Spenser J. Robinson and Robert A. Simons

Part 4 Redevelopment and adaptation

Chapter 20 Multi-stakeholder partnership promotes sustainable housing supply chain

Connie Susilawati

Chapter 21 Scaling up commercial property energy retrofitting: What needs to be done?

Tim Dixon

Chapter 22 Sustainable building conversion and issues relating to durability

Hilde Remøy and Peter de Jong

Chapter 23 Sustainable urban redevelopment in the Netherlands

Erwin Huerkens

Chapter 24 Smart growth and real estate development in Saudi Arabia

Abdullah Alhamoudi and Peter Lee.

Chapter 25 Applying sustainability in practice: An example of new urban development in Sweden

Agnieszka Zalejska-Jonsson

Chapter 26 Sustainable real estate: Where to next?

Sara Wilkinson, Tim Dixon, Sarah Sayce and Norm Miller

Index

About the Editors

Sara Wilkinson is a Chartered Building Surveyor, a Fellow of the Royal Institution of Chartered

Surveyors (RICS) and a member of the Australian Property Institute (API). She has worked in

UK and Australian universities over 26 years. Currently, she is an Associate Professor in the

School of Built Environment at UTS, Sydney. Her PhD examined building adaptation, whilst

the MPhil explored the conceptual understanding of green buildings. Her research focus is on

sustainability, adaptation of the built environment, retrofit of green roofs, and conceptual

understanding of sustainability. In 2015 Sara lead a City of Sydney funded project on the

Feasibility of Algae Building Technology in NSW and she continues to work on a cross

disciplinary project with a prototype panel being tested in 2017. With the Health Faculty, she

researches the impacts on health and wellbeing of horticultural therapy on retrofitted green

roofs. Sara is part of a cross disciplinary team of researchers from 4 NSW universities

investigating Urban Ecology Renewal in NSW for the Environment Trust NSW. Another

project explores whether a mandatory approach towards green roof and walls would work for

Australia. Sara sits on professional committees for RICS to inform her research and to ensure

direct benefit to industry. She sits on the editorial boards of five leading international journals

and is the Regional Editor for the International Journal of Building Pathology and Adaptation

in Australasia. Sara has published over 100 publications and books. Her research is published

in academic and professional journals, and recently, an RICS Best Practice Guidance Note on

Green Roofs and Walls for RICS practitioners.

Tim Dixon is Professor of Sustainable Futures in the Built Environment at the University of

Reading (School of the Built Environment). With more than 30 years’ experience in

education, training and research in the built environment, he leads the Sustainability in the

Built Environment network at the University of Reading and is co-director of the TSBE

doctoral training centre (Technologies for a Sustainable Built Environment). He has co-led

major UK research council research projects on brownfield land and urban retrofit, and is

currently working with local and regional partners to develop a ‘Reading 2050’ smart and

sustainable city vision, which also connected with the UK BIS Future Cities Foresight

Programme. Recently he has worked on funded research projects on a smart cities and big

data; smart and sustainable districts; and social sustainability for housebuilders. Tim is a

member of the Climate Change Berkshire Group, and a member of the All Party

Parliamentary Group on Smart Cities. He is also a member of the editorial boards of four

leading international real-estate journals; a member of the Advisory Board for Local

Economy; a member of the review panel for Commonwealth Scholarship Commission; a

mentor for the Villiers Park Educational Trust; and a member of the review panel of the RICS

Research Paper Series. He was also a member of the international scientific committee for the

national ‘Visions and Pathways 2040 Australia’ project on cities. He has written more than

100 papers and books in the field.

Sarah Sayce is Professor in Sustainable Real Estate at the Royal

Agricultural University, UK and Emeritus Professor at Kingston University

UK, where for many years she was Head of School of Surveying and Planning.

She is also a visiting academic to City, London and Reading Universities.

She holds an initial degree and PhD from the University of Reading and is a

Fellow of the RICS. Sarah is an active, widely published researcher and

public speaker across many aspects of the sustainability in the built

environment/ sustainable property and higher education and she has

extensive research experience and among the organisations for whom she has

undertaken research are the UK Government, the RICS and the Green

Construction Board. She has published several books, the latest, published

in 2015 was Developing Property Sustainably, co-authored with Sara

Wilkinson and Pernille Christensen.

Sarah sits on the editorial board of several leading international property

journals and she is also Joint Executive Officer of the Council of Heads of

the Built Environment, which is the representative body for the Built

Environment Heads of Department of UK Universities. In addition to her

academic work she is also very active in the Professional body, currently

being an elected member of their Governing Body and nominated member of the

Global and UK Valuation Boards. Additionally she has been a property

advisor the Property Working Group of the United Nations Environment

Programme's Finance Initiative and she also currently advises the Ethical

Property Foundation in relation to their Fairplace Award which is aimed at

driving 'triple bottom line' sustainability into workplace property

management.

Norm Miller is a Professor and the Ernest W. Hahn Chair of Real Estate Finance at the

University of San Diego where he has been since the fall of 2007. He has several dozen

highly cited papers on sustainability, workplace trends, housing, valuation and forecasting.

For much of his academic career he was at the University of Cincinnati as Academic and Real

Estate Center Director with one year visits at DePaul University and the University of Hawaii

and three years at the University of Georgia where he started his career. He received his

Ph.D. in Finance from the Ohio State University. He is active on the Editorial Board of

several national/international journals and a past President of the American Real Estate

Society. Known for his pioneering work on the economics of green and sustainable real

estate, he was the founding Editor of the Journal of Sustainable Real Estate, see

www.josre.org. Dr. Miller worked as V.P. of Analytics at CoStar, and is a research principal

with Collateral Analytics, see www.collateralanalytics.com. He is also on the advisory boards

of Pathfinders, Measurabl, Surefield and Verdani. His book with David Geltner of MIT “

Commercial Real Estate Analysis and Investment” is in its third edition and is the leading

graduate real estate textbook in the world. He is currently a Homer Hoyt Land Use Institute

Faculty and Board member, where he is involved with some premier thought leaders among

academics and industry Professionals in a think tank setting.

Subject Categories

BISAC Subject Codes/Headings:
BUS054000
BUSINESS & ECONOMICS / Real Estate
BUS072000
BUSINESS & ECONOMICS / Development / Sustainable Development
TEC005000
TECHNOLOGY & ENGINEERING / Construction / General