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Real Estate Update: 'Green' Buildings
February 15, 2006 Full PDF
An article written by partner Meredith Kane and associate Nicholas Kujawa appeared in the February 15 New York Law Journal's" Real Estate Update" section. The article explores the tax incentives that are available to developers to encourage environmentally friendly development in New York. During the last decade, "green" technologies have been increasingly incorporated in many of New York's prominent commercial and residential buildings. According to the article, "'green' technologies combine magnificent architecture with state-of-the-art building systems which conserve energy and water resources, and utilize environmentally friendly building materials and construction techniques." New York City and New York state require all new and rehabilitated government buildings to be 'green', and with the recent reenactment of the Green Building Tax Credit, the state provides a financial incentive to developers of these buildings.