🏡 Lots. Of. Construction.
Sustainable buildings are becoming commonplace and beginning to pop up everywhere, ain't that cool?
👋🏽 Why hello there!
We are still undergoing our slow transition to a new hosting site so we can share more in-depth info on projects and technology in the sustainable development space. As the market begins to heat up, we want to become a resource for people to access and find the latest greatest methodologies for achieving net-zero for their real estate portfolios.
Today’s newsletter will take ~ 3.5 minutes
Trends
🌎 Millenials and Gen Zs Want to Save the World
This is a little embellishment on our editors part, but in all reality, top tech talent is leaving high-paying jobs to fight climate change. If there’s one thing you leave this newsletter with today, please remember this: if you want your children to live a better life than yourself, wouldn’t you try to make sure they had a world that wasn’t plagued by severe climate change?
🔬 Inflation Reduction Act Could Cut 42% of US Carbon Emissions by 2030
A study released this week by Princeton Univeristy found that the Inflation Reduction Act would cut US greenhouse emissions by 1 billion metric tons by 2030, thereby cutting emissions 42% from 2005 levels. Per the report, “by driving down the cost of adopting clean energy and other climate solutions across the nation, the Act also makes it easier for executive agencies, state and local governments, and private sector leaders to increase their ambitions and help close the remaining 0.5 billion ton gap left to reach the 50% reduction goal by the end of the decade”
Deals & Developments
👷🏽 Lendlease Breaks Ground on 47-story Net-Zero Tower
You read that right - Australian firm Lendlease just broke ground on a 47-story mixed-use tower in San Francisco. The developer is aiming for net-zero emissions in construction and ongoing operations, with the tower anticipated to achieve LEED Platinum or better. 30 Van Ness will incorporate office, residential, retail, and public space into the 833,000 SF tower.
🪵 Tallest Mass Timber Tower Tops Out in Milwaukee
Ascent MKE, a 25-story building with a height of 284 feet, has officially become the tallest mass timber building in the world, beating Norway’s Mjostarnet by 4 feet. Though mass timber involves cutting down trees, mass timber construction has been proven to have a lower carbon footprint than traditional steel and concrete construction. This first large-scale development looks to set a precedent for sustainable buildings across the US with Chicago developer Sterling Bay looking to break ground on the first wood-structure commercial building in Chicago since the Great Chicago Fire.
Also of note: Houston-based developer Hines has replicated their "T3” office building model across the nation, which is their flagship mass timber product.
💰 Bjarke Engles’ Nabr Lands €47.3M Financing
The developer’s rent-to-own “Nabr” community was just backed by London-based VC firm, 2150. With its first development rising out of Silicon Valley, the company is not only trying to solve the affordability crisis, but by making the buildings completely electrified and carbon neutral in operation, BIG is looking to achieve meaningful progress in the sustainability arena as well.
Technology
❄️ Breakthrough Energy Invests in Air Conditioning Startup
Bill Gates’ climate-centric VC announced their leadership in a $20M series A in A/C startup Blue Frontier. CFCs and HFCs, the primary refrigerants in current A/C units, are highly detrimental to the environment, especially the ozone layer. Nearly half of the greenhouse gasses emitted as a byproduct of A/C come from the leakage of these refrigerants, however, Blue Frontier is able to avoid these harmful byproducts by using a saline solution.
MyHydro, a hydropower startup, has teamed up with California turbine company Natel Energy to provide The Democratic Republic of the Congo with renewable energy that is purported to be more reliable than solar alternatives. Congo has over 13% of the world’s hydropower potential, however, because of the density of fish across their waterways, only about 1% of Congo’s full hydropower potential has been tapped. Now, with MyHydro’s small-scale, low-head turbines will allow Congolese to aggregate energy from their rivers.
Legislation
Welp… there’s been a lot of changing over the past week to get the bill to a passable state. Now, with centrist AZ Democrat Sinema backing the bill as of last night, it likely has enough support to pass. In sum, the act would reduce the deficit by over $300 B. Key stipulations and contributions to budget are as follows:
15% Corporate Minimum Tax + $313 B
Prescription Drug Repricing + $288 B
Heavy IRS Tax Enforcement + $124 B
Carried Interest Loophole** + $14 B
Energy & Climate Change investment - $369 B
Affordable Care Act Extension - $64 B
**The Carried Interest Loophole is still up for debate as Sinema and other centrist Dems push back.
For a more in-depth rundown, see this overview of the bill as it stands.
Quick Takes
🐫 Australia might just pay people to hunt camels in the outback
🏞 Congo is naturally slowing climate change
Fact for Thought
As we were writing this newsletter, we found a really neat incentive for building out urban areas with a “15-minute City” structure: Colorado’s CDPHE’s Built Environment Program which awards “quick-win” funding to communities across Colorado of locally-driven projects that promote physical activity and active transportation. Their framework for this policy comes from ChangeLab Solutions.
Let us know what you’re liking!
great rundown this week. any further details on how that Lend Lease tower in san fran will get to net zero operational and net zero embodied/construction? just come carbon offsets?