Everything You’ll Need to Kickstart Your First Green Property Development Project
The world needs more housing. A lack of housing, and the fact that property investors are increasingly purchasing the existing properties has meant that the wealth gap has only increased. When a person cannot own their own home, they are forced into a continuous, exploitative environment that makes it almost impossible to build generational wealth for their families.
That’s where new construction projects come into play. Considering the other massive issue of today is due to the climate crisis. However, all of those new developments must be designed with sustainability in mind.
What Makes a Property Development Project Sustainable?
A few key characteristics will make any property development immediately more sustainable.
New properties must carefully balance health, safety, and regeneration. This means that eco-friendly and sustainable materials are essentials, but not at the expense of safety. It’s not just the materials themselves that will play a part, but how they are put together.
Everything about the property needs to be highly efficient. This means using highly efficient water heaters, natural cooling features like latticework bricks outside of windows, and so on. A highly efficient property uses less in terms of water, electricity, and heat, which in turn means lower utilities for the residents.
It’s not just the building’s emissions that matter, but those who live in there as well. This means that properties designed with multiple uses in mind encourage residents to stay right at home. Having a grocery store on the ground floor and other key shops like a gym, a café, and a restaurant can bring the fun right home.
Buildings today are also increasingly built with more social spaces, like rooftop gardens and common areas, to help residents socialize. The result is a close-knit community that needs to venture out with their cars less for everyday errands.
How to Kickstart Your First Green Development Project
To kickstart such a project you’ll need:
Build the Ultimate Proposal
In addition to getting an architectural firm specializing in sustainable development, you’ll also need to involve the community. See what they are hoping for in terms of their community. Some may think that more green spaces are needed, while others that there needs to be a greater community feel. Use that info to create a culturally, socially, and environmentally mindful building proposal you can then take to lenders, investors, and the local councils for approval.
Hard money loans for new construction projects can cover up to 90% of the building costs. This means you will need to be able to cover the cost of the land purchase, and a down deposit for the actual construction as well. If you are a long-term property developer looking to switch to sustainable projects, you will easily have this covered. Otherwise, you may need to find investors to cover that upstart cost.
Hire the Best People for the Job
You will want contractors and businesses who are just as sustainably-minded as you are in order to bring your project to life. Check to see their sustainability and environmental credentials, and their current set of goals and values so you can partner with the best people for the job.