Building healthy : a feasibility study of developing a "Healthy" office tower

Abstract

In the real estate development industry, there have been many influential forces that have created change in the baseline expectations and performances of buildings. These changes have occurred in response to market demands by tenants, capital demands made by investors and inherent evolution in technology. This thesis will focus on the market evolution of environmentally driven changes to building design and operations due to LEED parameters and now the inclusion of indoor environmentally healthy requirements through WELL building parameters. This thesis focuses specifically on the financial feasibility of developing a Well Certified office building. It compares two hypothetical office tower developments: a LEED standard development to a WELL certifiable development. The thesis explores what design considerations a WELL building must address and how these Well standards compare to systems in existing buildings. It explores the physical implications of WELL level infrastructure and the comparative costs associated with the changes. Ultimately, this thesis evaluates the financial feasibility of building a WELL building as compared to a LEED standard Building. It will surmise that while initially less economically appealing than a LEED standard development, the market forces will push WELL parameters to be requirements of the next evolution of Class A office building development.