Tampa Bay Commercial Real Estate Properties: Are They Going Green?

How do you commit to being environmentally conscious in a down economy? Simple. Every day new lower cost “green” solutions are being put on the table. In the past, a Pinellas commercial real estate developer with commercial office space really had to look at the long haul to justify the extra up-front costs involved in green technology. That’s changing.

Suddenly green energy alternatives are looking more attractive. Who knows what we’ll be paying for energy in the coming years. We know the price won’t go down, but we do know that there is a good chance the price could sky rocket. Enter renewable energy alternatives… more architects and developers are finding it to be an attractive alternative in their commercial development and redevelopment plans.

Commercial real estate properties in Tampa Bay are good examples of renewable energy in practice. For instance, Surgical Pathology Laboratories in Pinellas Park gets 30 percent of its power from the sun. Pinellas County’s Homeless Emergency Project, a nonprofit organization in Clearwater that provides temporary and transitional housing, will be partially powered by the sun. The nonprofit expects to save 30 percent in utility bills monthly and this money will be put to good use to further help the homeless.

83 Park Place in Clearwater is a commercial office building that encompasses green energy enhancements including a cool roof and insulated windows, resulting in a 25 percent reduction in energy costs while creating a comfortable atmosphere for the tenants. And, the comfortable atmosphere is more important than ever before. A recent study shows that a “green” environment promotes employee satisfaction. This is a dramatic change in employee priorities and is a true example of how being environmentally responsible is a win/win situation.

This attention to sustainability is not lost at the University of South Florida (USF) either. USF has become one of a small number of universities nationwide that has made the effort to build an environmentally-conscious campus and as a result has received the gold STARS rating. USF’s colors have always been green and gold, but now according to E. Christian Wells, Director of USF’s Office of Sustainability, “we are truly ‘green’ and ‘gold’!”

Florida has not been at the forefront of solar energy production in the past. But that trend is changing as the price of solar equipment continues to drop. And local contractors and developers report that the ‘green’ side of their businesses have shown growth. After all, we are the Sunshine State!