Sustainability and Sustainable Developments
In modern era, the trend for sustainable development has increased significantly in order to reduce the impact of construction and construction related environmental issues. We are living in the age of educated consumers and it is expected that in this era it has become the responsibility of everyone to reduce pollution and any activities that have a negative effect on the environment and should enhance do activities which have positive impact on the environment.
In addition to this, with the increase in global warming, it is necessary to design green buildings in order to reduce the impact of global warming and it is the most environment friendly methodology, which is becoming dominant with the educated and developed countries.
It is expected that with the help of construction of green buildings by following the methodology of sustainable development, the Tower Company is fulfilling the current need without compromising the need in order to meet their needs. (Georgia Myers, 2007)
Green buildings have certain benefits as they decrease the production of CO2 and they decrease the usage of utilities such as electricity, water and gas.Moreover, it is expected that tenants could receive these benefits directly;as a result the trend for sustainable development is increasing continuously.
It is expected that due to the global economic downturn, the prices of real estates
have declined significantly and rate of construction of new buildings also slowed down, however the prices of sustainable and green buildings have not affected significantly due to their potential of growth in the long run.Moreover, the ratio of the construction of green buildings has increased significantly as compared to the rate of construction of ordinary or historical buildings.
Three Pillars Model of Sustainability
According to the three pillar model,sustainability is the combination of economic, social and environmental issues. In order to achieve sustainable development, it is necessary to minimize the concept in order to provide greater benefits to the society by minimizing the environmental impact.
It is expected that sustainability is of three types such as economic sustainability, social sustainability and environmental sustainability. The Tower Company is supposed to be following the principles of sustainability and in order to construct green buildings, the management of the company is applying the procedures of each type of sustainability by minimizing the cost, providing greater benefits to the society in an environmental friendly manner.
Market for Green Buildings
It is expected that with the increase in awareness and educated consumers, there is a significant increase in the demand of green buildings and from past research, it is clear that the demand of green buildings will increase. The Tower Company’s building 2000 Tower Oaks is the only green and environmental friendly building in this region; therefore the Tower Company is at an edge over its competitors.
It is expected that with the continuous increase in demand of sustainable building, there will be a point where sustainable buildings become standard and there will be a major shift in the construction industry from traditional buildings to sustainable and green buildings. As the market for green buildings increase, there will be a point where a switch from sustainable building thinking to sustainable building reality becomes the standard……………………..
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