We have a Client about to enter a Joint-Venture with the developer. The idea is for the developer to build the building on behalf of the JV, then the JV to lease the entire building space back to the developer. I think this is a CS scenario. I just wanted to make sure our advise is correct - true or false?
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Tristan Roberts
RepresentativeVermont House of Representatives
LEEDuser Expert
11474 thumbs up
February 21, 2012 - 11:19 pm
Steve, you didn't say anything about the construction scope, which is at least half the answer to your question. What is the scope?
Steve Khouw
PrincipalDNA GreenDesign
169 thumbs up
February 22, 2012 - 6:47 am
Tristan, construction scope is 100 percent building the whole building from the ground up, it is a new base building, nothing there right now just a plot of land. Then after building it, the JV will pay rent to the owner, the developer. Note, it is the JV (the tenant) that wants to register the LEED program not the owner (developer).
Tristan Roberts
RepresentativeVermont House of Representatives
LEEDuser Expert
11474 thumbs up
February 22, 2012 - 8:38 am
Steve, it does sound to me like a CS project. Ideally, though, the parties could coordinate their efforts and it could be certified as a fitted-out LEED-NC project, which would have more meaning and more benefits in terms of green measures.
Steve Khouw
PrincipalDNA GreenDesign
169 thumbs up
February 22, 2012 - 11:13 am
Agreed. I am trying to convince the developer to be the one to register and register the NC rating system so as to truly benefit from the green initiatives, however I have to debunk the green cost myth. China is not a sophisticated market, life cycle cost assessment is yet to be understood here. Thanks for the commentary.