McGraw-Hill Construction released a report on Wednesday that found the value of green building construction starts was up five-fold from 2005 to 2008. According to the Green Outlook 2009: Trends Driving Change report, starts were up from $10 billion in 2005 to $36 to $49 billion this year and could triple by 2013, reaching $96 to $140 billion.
The report — based on data found in the McGraw-Hill Construction Network — was released on Wednesday at the Greenbuild International Conference and Expo in Boston. The survey found that, since 2005, the perceived benefits of green building have increased as people become more informed about green building. The decrease in operating costs is the most often cited benefit (13.6 percent, up from 8 percent to 9 percent in 2005), followed by the increase in building values (10.9 percent, up from 7.5 percent in 2005).
In the mean while, Boston green residential building, The MacAllen Building is selling at an enormous discount rate – some units were reduced $100K from their original prices. The MacAllen Building is the first green residential building in Boston and features great loft style condos.