1. Green Building – Green Business Devin Saylor, LEED ® AP Cost and benefits of green building in Bulgaria

2. Objectives 1. Challenges of costing green in Bulgaria 2. Opportunities for low cost green initiatives 3. Strategies to minimize cost of green

3. Economic and Financial Benefits of Green Higher Rents Higher Sales Prices Lower Cost of Occupancy Greater Tenant Demand Human Capital Savings Future Proofing Building

4. What is the cost of Green Building in Bulgaria? › Focus on initial cost instead of lifecycle cost › Not enough green buildings to draw conclusions › Depends on project team experience › Green Building Strategy ?

5. Required costs › Certification and registration fees - depending on the green building rating system and size $$$ - 2 500 - 29 000 EUR › Whole Building Energy Simulation $$$ - 20 000 – 25 000 Euro › Commissioning of building systems $$$ - 25 000 -40 000 Euro › Consultants/Auditors / Assessors

6. Advantages for projects in Bulgaria › Access to public transportation › Higher density › General parking practice

7. Low initial costs › Accommodating of alternative transportation › Water efficient fixtures › Environmentally friendly construction products and materials › Green policies and procedures › Optimizing building orientation › Passive design strategies (daylighting and ventilation) Photo Credit: Muffet, Flickr

8. Greater initial costs › Energy Systems › Green Roof › Renewable energy systems › Water treatment systems › Building Automation and Management Systems An upfront investment of 2% in green building design, on average, results in life cycle savings of 20% of the total construction costs – more than ten times the initial investment. Kats, G. (2003)

9. Challenges for projects in Bulgaria › Low cost of water and energy - longer payback periods › Insufficient incentives › Lack of construction material recycling programs › Limited market for reused site materials › Recycling practices

10. Strategies for minimizing cost › Start the process early › Involve all project team members › Set specific sustainability goals according to project budget and objectives › Include project team members with green building experience › Develop a comprehensive strategy to achieve the most environmental benefits for the least amount of cost

11. Thank you Devin Saylor, LEED® AP Regional Director Sustainability Advisory Services devin.saylor@colliers.com www.colliers-sustainability.com