2008 Trends: General Contractor’s Outlook on Multifamily Renovation and Construction

From a slowing housing market to rising oil prices, the multifamily market is shifting.  And as America’s Green Movement continues to grow in popularity among consumers and businesses alike, the multifamily industry is seeing new building trends among its property owners and management companies in regards to construction and renovation techniques.  In the face of a changing industry, many of today’s major multifamily players are becoming more strategic and developing creative construction solutions to respond to the market while operating at minimal costs. 

The ability to provide a quality product at a reasonable price has become increasingly challenging for today’s apartment owners with rising construction costs.  More often, multifamily owners are turning to general contractors to suggest energy efficient construction methods and products that offer long term operating savings.  From energy efficient windows to appliances, multifamily owners are incorporating products that are not only better for the environment but also help save them money.  Below are a few examples of recent green building trends we’ve seen in multifamily renovation and new construction. 

Lighting: Using florescent lamps as opposed to incandescent lamps can reduce energy costs up to 80 percent.  Compact fluorescent lights are up to four times more efficient and last up to 10 times longer than incandescent bulbs.  As such, florescent lights often times reduce maintenance costs.

Plumbing: Water saving shower heads, 1.6 GPF toilets and low flow aerators result in annual savings of approximately $180 and 91,031 gallons of water.  High efficiency toilets use an average of 20 percent less water per flush and can alone save up to 8,760 gallons of water each year. 

Products: Many properties are using standardized pre-packaged products including faucets, light fixtures, door handles, knobs, etc. to save money and time.  Purchasing everything from one company often results in discount bulk pricing and one-stop shopping.  For example, many multifamily property owners are installing Icestone as opposed to granite for their countertops in their kitchens and bathrooms.  The product is made from recycled glass and concrete and is as strong as granite.

As the Going Green trend continues to grow, owners and management companies are incorporating new building methods and energy efficient products that not only sustain the environment but also help them save on daily operating costs resulting in a win-win situation for all.  In addition, these environmentally-friendly changes are becoming a major selling point for multifamily owners as today’s residents become increasingly concerned about sustainability.