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Level 3 LEED Gap Analysis
Quantitative & qualitative project feasibility of LEED for Existing Buildings: Operations and Maintenance Certification, on a cost and investment basis.
Level 3 LEED Gap Analysis Overview
Our Level 3 LEED Gap Analysis is our highly detailed LEED feasibility study which assesses how the building is currently operating, in relation to where it would need to be operating to obtain certification, in addition to evaluating LEED as an investment decision. It assesses the building in relation to LEED on a both qualitative and quantitative basis, meaning, it seeks to identify dollar amounts for necessary changes as well as examining the non-cost side of LEED, such as building personnel. Evaluating LEED as an investment means extrapolating various financial measures such as the SPP, NPV and IRR, based on potential changes in occupancy, lease rates, expense rates, concessions, or other market factors that would drive income and expenses within the building.
Level 3 LEED Gap Analysis Details
The Level 3 analysis is best applied to situations when an owner would like an extensively detailed understanding of what types of things may need to be adjusted to successfully obtain certification, the resulting costs, and ultimately how it may affect the value of the building. The level 3 LEED Gap Analysis is both cost and investment driven, meaning that the study is devoted to understanding the upfront and ongoing costs of LEED for your specific building, in addition uncovering whether or not income/expenses may be expected to be impacted by certification.
Refer to the deliverable components below for a more detailed understanding of what this study includes.
Level 3 LEED Gap Analysis Deliverables:
- Whether or not the project will meet the Minimum Requirements of LEED
- Whether or not the project will meet the prerequisites of LEED, and if not, we will provide a general opinion of costs to meet the prerequisites
- Ranks the potential applicable LEED credits from lowest cost to highest cost
- Whenever possible, provides a credit-by-credit analysis of whether the credit would require an upfront capital expense, an ongoing operational change (and expense), or an upfront labor cost (ie: policy writing)
- Illustrates the benefit of credits beyond LEED Certification
- Includes sensitivity analysis of cost projections
- Provides an opinion as to the cost of large capital expenditures, such as energy efficiency and plumbing retrofits
- Provides an opinion as to the cost of mid-priced capital expenditures
- Establishes the Energy Star Score (score of at least 69 is required) of the project and a general opinion of cost to increase the Energy Star Score if necessary
- Evaluates LEED as an investment, including the IRR, SPP, & NPV
- Evaluates changes in potential rents, occupancy and expenses post LEED
- Includes a sensitivity analysis of financial projections
- Provides a total cost opinion for LEED, including sensitivity analysis
- Provides a detailed strategy for pursuing LEED
- Includes a risk management analysis
Delivery
To complete our LEED Gap Analysis, we will need to conduct a brief interview with the primary building operator, perform a walk-through of the building, and have at least 12 months of utility bills. We generally can have the study turned around in 1-3 weeks, depending on access to what we need. To learn more, or to schedule a no obligation fact finding consultation regarding a LEED Gap Analysis, contact us today.
Value Pledge
Most companies offer LEED feasibility studies as a way to obtain a LEED project. In our opinion, this easily leads to an analysis which is devoted to under reporting potential issues and costs, which ends up adversely affecting the owner once the certification process ensues. [ Read more about our value pledge here... ]
Additional Questions?
For additional questions regarding LEED Certification, or the Level 3 LEED Gap Analysis, please contact us.
