The Green Economy: More Than Just a Campaign Slogan

I've been thinking a lot about green lately. We just completed our sustainable design house at 1020 Kent Street. A beautiful home, although much different in some design aspects from the homes we usually build. We have been building energy efficient homes for the past four years with the SystemVision guarantee - the new Kent Street house is definitely taking some of our ideas to the next level.
But the opportunity of our homes goes farther than the cost savings and health benefits for the buyers. It even goes farther than the positive environmental impact. The next big opportunity for green building is its economic impact. The "Growing a Just, Green Society" conference took place here in Durham recently. Green building dovetails nicely with idea of affordable housing if you look at its impact over the long term. We want affordable homes that are less expensive to maintain, less expensive to heat and cool, and made from healthier materials that contribute to healthier occupants and lower medical bills over time - all of which are benefits of green built homes.
"Green jobs" aren't just a fanciful term for political stump speeches. Because we made the commitment to incorporate green building standards, our builders and contractors had to make the same commitment. They had to learn new skills and methods, which makes them more marketable as they move on to other projects. The increased earning potential of the construction and related industries, coupled with the positive economic impact each home has on its owner - this is a foundation for the future.
Several local organizations, covering a spectrum of interests, have come together to move toward supporting a green economy based in opportunity for all. In the Indy's coverage of the conference, the executive director of N.C. Fair Share notes that this "is a movement, not a moment". Here's hoping the movement has legs.

1036 Kent Street Nears Completion

Our new construction home at 1036 Kent Street is nearing completion. I went by today and the builder was laying straw in the yard, a sure sign that the end of construction is near. The design of this home is one of our most popular, for several reasons. Part of our plan to build sustainable and energy efficient homes is to do infill development - building in existing neighborhoods. These neighborhoods usually have smaller lots, which challenges us to put a lot of livability in a small space (thanks to a wonderful architect, www.tightlinesdesigns.com) . To that end, this home does several things well. We've incorporated 3 bedrooms and 2.5 baths in less than 1300 square feet. The main floor has 9 ft ceilings to give a more spacious feeling to the home. The downstairs living area is a large, open area, which allows for greater flexibility. The master bed/bath are on the main floor as well. Upstairs, we have two additional bedrooms with a "jack and jill" shared bath, and a laundry closet. This home also uses its attic space for easy storage. There are four separate "crawl in" attic spaces on the second floor - easy to slide things in, and no need to climb up into the attic.

In short, this home has a lot of features of a suburban subdivision home, done in less space, but designed so that you'll never notice.

1036 Kent Street
Price: $121,000
Sale of this home is available to first time, owner occupant homebuyers. Some income restrictions apply. Great financing by the city of Durham and the North Carolina Housing and Finance Agency - own for the price of rent (really:)).
Energy efficient design with a two year comfort and use guarantee.
Call 919-956-4675 for more information.

Construction Almost Complete at 907 Exum

Seed and sod are down at 907 Exum, a sure sign that construction is winding up. This is the newest home from the Durham Community Land Trustees, and continues their mission of building affordable, energy efficient homes that honor the architectural heritage of southwest central Durham. For more info about DCLT, check out my previous post. This bungalow is a spot built home in the Burch Avenue neighborhood. Three bedrooms, two baths, living room, dining room, and kitchen, and an easy walk to Duke and downtown.

With a list price of $104,000, this home is a great opportunity for first time homebuyers. Buyers will need to be first timers and owner occupants (sorry, no investors).

This home has energy efficient design, and was built to specific efficiency standards under the SystemVision initiative from Advanced Energy. SystemVision homes are built using rigorous quality standards; inspectors are active from the outset with input on the design of the home, and inspecting the construction site to ensure that standards are met every step of the way. Advanced Energy guarantees the results of their process - for the first two years of ownership, they guarantee that heating and cooling bills for the home won't exceed a certain amount.
For even more info, check out the home website at http://www.907exum.com/.

More pics:

Durham Community Land Trustees

One of our favorite clients is the Durham Community Land Trustees (DCLT). For the past twenty years, they have been building homes that are affordable to the majority of Durham residents. That's no small feat, given that their target area is neighborhoods near Duke University, where real estate prices have increased faster than prices in other areas of Durham. I think it's worth it to revisit why the land trust model has a place in our market, especially given the number of first time home buyers that are now losing their homes in this tough real estate climate.

DCLT's goal is to provide permanently affordable home buying opportunities to first time home buyers. However, their approach encompasses more than just providing a home. They educate and support buyers, and eventually provide a path for buyers to move up to a market price home.

DCLT home buyers attend home buyer education courses before purchasing their home. These courses prepare buyers, letting them know what to expect from their real estate agent, lender, and others involved in the process. They also receive opportunities to work with counselors to create a monthly budget, handle credit issues, and understand how much they can afford to spend on a home.


Perhaps the most important part of the DCLT mission is protecting buyers from predatory loans. Over the past year, we have watched the dream of homeownership turn into a nightmare for many first time home buyers. Because they didn't have the education and support they needed when buying a home, they ended up with adjustable rate mortgages, and other loans with high interest rates and fees. DCLT works closely with a group of preferred lenders, and even has a loan pool offered through the state of North Carolina. These loans are low interest (and in some cases no interest), and are designed to ensure that buyers are getting a leg up with an affordable mortgage. Buyers have the peace of mind that comes with a quality home, and a chance to save money that might have otherwise gone to pay a larger mortgage.

DCLT has also committed to energy efficient and environmentally friendly building practices. Many buyers are never told about the hidden costs of homeownership, such as higher utility bills and home maintenance costs. These items can add hundreds of dollars to the cost of owning a home over the course of a year. DCLT uses low maintenance materials and energy efficient standards wherever possible and even offers an energy use guarantee - heating and cooling bills can be as low as $26 a month. Upgraded insulation, solar water heaters, and semi-permeable driveway designs are all examples of methods used by DCLT to create homes that are good for homeowners and good for the environment.

While DCLT provides opportunities for home buyers, it also wants to provide stability for the neighborhood. More homeowners means better looking and better maintained homes, more involvement in neighborhood associations, and more stable home values. Like many other community builders, DCLT asks buyers to give something back in return for the chance to buy a quality home at a low price. To keep their home affordable, buyers agree to pass along some of their equity to the next buyer, keeping the home affordable over time.

As we recover from the hangover of the easy money mortgage market, it's a good idea to get back to the basics. The dream of homeownership is founded on the security of having a place for family and a chance to improve your finances by saving money. Organizations like Durham Community Land Trustees offer buyers the chance to take part in this dream.

Take a look at current DCLT homes for sale:

http://www.907exum.com/

http://www.1513chapelhillroad.com/

Coming Soon - Cameron Place - a neighborhood of new, energy efficient homes near Duke University