More offices in Texas are going green than ever before, in part due to the Millennial generation. Because of their popularity, a variety of Texas commercial loans are available for these types of projects.
In 2018, San Antonio will be home to the Cavender Office Project, a 140,000 sq. ft. office development that is calling itself a sustainable and walkable urban project. It will include 125,000 sq. ft. of office space and 15,000 sq. ft. of retail space and is considered, in some ways, the first of its kind in Texas. Instead of using traditional steel and concrete material, they will be using timber to construct much of the building and create a walkable area between old and new buildings.
Creating sustainable office space has been on the rise. Much of this is due to the Millennials—the generation that is roughly defined as those that were born between 1977 and 1995—who have surpassed the baby boomers to become the largest population in the U.S. workforce. This generation typically looks for businesses that give back to their community and have a social conscious. They consider a balanced life first and foremost and appreciate companies that place health and fitness as an integral part of their employee’s amenities, including a healthy workplace. They are, ever so gently, changing the face of America’s office and corporate structure.
You could say that the “green scene” is taking over Texas as well, at least parts of Texas. St. Edward’s University in Austin is committed to maintaining a sustainable campus and to this end was built with eco-friendly construction material. Watters Creek, a mixed-use development in Allen, Texas incorporated a large creek-side village green and is LEED certified which means that is has incorporated sustainable practices in the building of the development including the use of eco-friendly construction materials and maintaining a good indoor-air quality through ventilation and use of low VOC materials.
When Swinerton Builders, a company in Austin, Texas, decided to relocate, it opted to create an office environment with the goal of achieving LEED Gold certification. In order to accomplish this, it was built with reclaimed oak, hemlock and pine and contains furniture with recycled content. All lighting is LED and all finish materials are low VOC. The large windows allow natural light to diffuse through them and the open space aesthetics provides the kind of work environment that promotes interaction. Because of their popularity, there are several possibilities when obtaining Texas commercial loans for these types of projects.
Obtaining LEED Certification
If you’re considering getting into the lucrative real estate development known as sustainable office buildings, getting your buildings LEED certified is a step in the right direction. There are five areas to consider when obtaining this certification: the use of sustainable, eco-friendly materials for construction, the use of energy efficient lighting and HVAC systems, indoor air quality and use of windows for diffuse lighting as well as water conservation mechanisms.
Financial benefits include tax incentives, availability of Texas commercial loans, and tenants that will pay extra for a “green” building.
If you’re looking for funding for your next sustainable project, consider Level 4 Funding. We are private investors that provide hard money asset-based loans to developers, businesses, contractors and home owners. Contact us for a no-obligation quote. We may just be the key to the Texas commercial loan that you require for your next office building. Many find that when banks have said “No” we are able to say “Yes.”
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.