Community Giving: Resort developers capitalize on their sustainable features by luring buyers with the same “green” principles.
With many people assessing their carbon footprints, energy consumption, and overall environmental impact, a few savvy resort developments are using their own environmental responsibility to appeal to their potential buyers’ desire to be equally low-impact.
At Homestead Preserve, a 450-home, 2,300-acre planned community in Hot Springs, Va., less than 3 percent of the preserve has been developed, and for every home site sold, a portion goes into a trust to benefit the area. “That’s part of the appeal,” says Penny Peery, marketing specialist for the development. “It speaks volumes.” To sell the project, Peery relies on an old-fashioned technique: “Word of mouth,” she notes. “Once people visit here, they love this place and they tell their friends.”
The California ski resort of Alpine Meadows near Lake Tahoe touts a long list of environmental features, including 100 percent wind power, biodiesel use, and an extensive recycling program. But it’s the pristine scenery that is its best source of marketing, says spokesperson Rachael Woods.
Just south of Savannah, Ga., the earthconscious Hampton Island Preserve community includes a 16-acre organic farm and water-conservation program for its golf course. That appeals to “green” golfers, a very specific type of buyer.
Bill Cole, a founding partner, explains: “If we approach it from a targeted way and let the members and new supporters fill the club, [we will].
“We’d much rather get our results that way than through mass marketing,” he adds. “It’s still about friends of friends.”
Executive Feedback
Q&A
What’s the biggest issue developers will face in 2008, and how will you address it?
A:Our office clients at Victory Park have told us they want to be more environmentally progressive. As a developer, this is going to be a big issue as they ask, “What are you doing compared to your competition?”
To address the challenge, we are building the first Silver LEED-certified multitenant office building in Dallas and have another LEED-certified building in design. —Bill Brokaw, vice president, Hillwood, Dallas
A:The biggest development challenge in 2008 will be price increases due to demand for both labor and materials, combined with price escalations for gasoline and diesel, which affect all areas of production and construction. Wherever possible, we bundle multiple projects together so we can buy our construction commodities at the lowest bulk price, which keeps costs lower. — Lori Mason Curran, market research manager, Vulcan Real Estate, Seattle
A:The biggest problem facing developers is the over-abundance of mediocre, cookie-cutter [condominium]
product currently on the market and coming in 2008. [Our] answer to this issue is to continue to approach
development as an art form, and to build only exceptionally beautiful buildings with the very finest finishes, and the most thoughtfully designed floor plans. —Roy Stillman, president, Stillman Development International, New York City
A:If a project has a residential component, it will not move as quickly as in the past. To confront these issues, the commercial component will be built first in our mixed-use project, City Park Aventura. Our intention was to build the office and residential simultaneously. —Gavin Susman, COO, Sky Development, Aventura, Fla.
