Bank gives favorable terms to 'green' building projects. The newly created New Resource Bank, San Francisco, now offers lower interest rates and more generous loan terms to developers and owners who invest in 'green' building projects. The bank will provide a 1/8th percent (0.125%) discount on loans to commercial or multifamily residential projects seeking certification under the U.S. Green Building Council's LEED (Leadership in Energy and Environmental Design) rating program. Founding investors include green building pioneers Greg Kats, Jonathan Rose, Malcolm Lewis, and Ray Anderson (Interface Carpets).London's iconic 'Gherkin' building sold for a record £600 million. Its formal name is 30 St. Mary's Axe, but the pickle-shaped structure, designed by Norman Foster, is known throughout London as the Gherkin. It commanded the highest amount ever paid for an office property in Britain in a deal struck between the owner, insurance group Swiss Re, and German real estate group IVG Immobilien.School construction: hottest market for green building. The education sector is the fastest-growing market for green building, according to a recent report by McGraw-Hill, which valued education construction at $53 billion for 2007. The education sector is becoming greener due to the specific sensitivities children have to indoor air pollutants and environments, as well as the amount of time students (at both the K-12 and university levels) spend in these buildings.USGBC LCA group releases first set of recommendations. The U.S. Green Building Council's Life Cycle Assessment working group has developed initial recommendations for incorporating life cycle assessment of building materials as part of the continuous improvement of the LEED rating system. The recommendations include short and long term implementation strategies as well as technical details regarding LCA methodology.
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