An examination of the potential relationship between green status and price
Couch, Colin Gregory
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This study investigates whether a relationship exists among sale price and green building status for multifamily properties located in Chicago, Illinois; New York, New York; Portland, Oregon; and Seattle, Washington. It is hypothesized that Leadership in Energy and Environmental Design (LEED) certification will have a positive relationship with sale price when compared to non-green multifamily properties, ceteris paribus. Data are analyzed from Chicago, New York, Portland, and Seattle, primarily because these cities contain the greatest number of green multifamily properties within the CoStar database. The sample for this project is drawn from a collection of 25 green multifamily properties and 111 non-green multifamily properties. Using analysis of variance (ANOVA) and multiple regression to examine the sample of 136 multifamily properties, results of the study indicate that there is not a significant positive relationship between LEED certification and sale price for multifamily properties in Chicago, New York, Portland, and Seattle.