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Green Roof Installation Raises Value of Boston Apartment by $2.4 MillionJanuary 16, 2013
The Green Monster recently got a new green neighbor.
A green roof installation is now within throwing distance of the iconic left field wall at Fenway Park on Yawkey Way. While some residents of the 1330 Boylston Street apartment community can’t see the action on the field, they do have a nice view of the environmentally friendly roof installed during the summer on the 4-year-old property owned by a partnership of Samuels & Associates and institutional clients advised by J.P. Morgan Asset Management.
The installation has proved to be a win-win for property managers, owners, and residents, as well as the environment. The installation, which cost $112,500, is generating an additional $300-$500 per month in revenue for about 25 units that overlook what used to be a heat reflective, stark, white roof typical of building construction four years ago.
The green roof held the attention of the audience during a sustainability session in November at the National Multi Housing Council’s OpTech 2012 conference. Green roofs are becoming more common among apartment property owners and developers wishing to reduce energy costs and better manage environmental concerns like excessive storm water drainage.