News
Source(s):
Urban Land Institute, the (ULI)
By Trisha Riggs
Worldwide, this past July was the hottest month on record, according to the European Union’s Copernicus Climate Change Service. A new ULI report, Scorched: Extreme Heat and Real Estate, notes that such rising temperatures and excessive heat waves are already affecting urban development and reviews strategies that can help mitigate the effects on communities.
Scorched, published with support from the JPB Foundation, explores how extreme heat is emerging as a growing risk factor and planning consideration across the United States, and how the real estate industry is responding with design approaches, technologies, and new policies to mitigate the effects and help protect human health. The real estate sector can improve resilience to extreme heat through mitigation strategies that lower temperatures, as well as adaptation tactics to help people and businesses cope with extreme heat, the report says.
Among the key observations in the report:
The report points to a broad range of options, many of which also add value as an amenity, including the use of light-colored surfaces and materials, increased shade provided by built and natural canopies, and the use of “heat-aware” building envelopes and heating, ventilation, and air conditioning (HVAC) choices that stabilize indoor temperatures even during power outages.
“Real estate developers, designers, and public policymakers are increasingly acknowledging the detrimental consequences of extreme heat and are seeking solutions to make buildings, neighborhoods, parks, and other outdoor spaces more adaptable to environmental conditions and comfortable for occupants,” says W. Edward Walter, ULI global chief executive officer. “This presents an opportunity to reduce climate risk and create better communities in the process.”
Scorched provides a snapshot of the issue with several statistics documenting the impact of extreme heat, as well as the significant potential of strategies to address it in the built environment:
Investments in extreme heat mitigation technology and approaches can lead to a host of benefits, including an improved tenant experience, reduced operating costs, an improved likelihood of business continuity, enhanced branding, and additional foot traffic in pedestrian and retail environments, the report notes.
For example, being “heat-resilient” can potentially reduce the likelihood of construction delays caused by extreme heat; increase support from investors, public officials, and other stakeholders; and reduce stress on public infrastructure. In addition, heat-resilient projects can reinforce the developer’s reputation for high-quality, green design, and they can become heavily patronized places of refuge during extreme-heat events, leading to enhanced asset value, higher rent premiums, and lower vacancy rates. Also, operating costs can decline as a result of less frequent replacement of heat-damaged materials, lower utility costs, and a higher chance of sustained operations during extreme heat events.
Scorched highlights several case studies of developments that have incorporated extreme heat mitigation strategies:
“As extreme heat becomes increasingly prevalent because of the urban heat island effect and climate change, designing for heat and ensuring users’ comfort is likely to become a mainstream concern,” the report says. “This translates into different design and development decisions for buildings, which may need enhanced cooling capacity, and for public spaces and outdoor retail environments that are likely to be used differently in hot weather.”
The funding provided for Scorched by the JPB Foundation was contributed as part of a grant to the ULI Foundation, which provides philanthropic support for ULI initiatives to create thriving and sustainable communities worldwide.
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