The Soo Line Building City Apartments is just one of many green multifamily projects that has successfully implemented green building elements cost-effectively. Designed by BKV Group and Wiss-Janney-Elstner and owned and redeveloped by Village Green, this Minneapolis project was built in 1915 to house the corporate offices of the First National Bank and the Minneapolis-St. Paul-Sault Ste. Marie Railway, or Soo Line.
Since its inception, the building has undergone multiple transformations, losing many of its original features to suit the changing needs of the occupants. Upon its rebirth as a green multifamily project, the architects have worked to restore the building’s historical fabric while weaving in modern features and luxuries.
The Soo Line Building is just one example of how green is a potent force and certainly holding its own in the multifamily sector, according to McGraw Hill Construction’s recent SmartMarket report, Green Multifamily and Single-Family Homes: Growth in a Recovering Market.
When asked what specifically triggers them to build green, 73% of multifamily builders said that rising energy costs are a driving force, closely followed by regulatory and code changes (70%), green product availability and affordability (70 percent), and incentives provided by the government or utilities (70%). And it isn’t just builders who recognize the value of green: 68% of multifamily builders currently building new projects report their customers are willing to pay more for green condominiums or apartments than traditional ones.
Read the rest of the story in the Winter 2015 issue of Best in American Living magazine, and get more statistics on green market growth and this Minneapolis gem.