How "Sustainable Buildings" contribute to Gentrification
When cities and towns require Stretch Code and LEED certified buildings, they unwittingly raise housing prices and contribute to gentrification. Essentially, these codes drive up the price of construction. That has two effects:
Drive up the cost of buying or renting property
Make projects unaffordable for developers
Both of these raise prices and push out those who don't have the ability to afford the higher prices. This is happening in Boston, where prices for new condos are so high that it keeps people in rentals longer and drives up rental prices. The same thing is starting to happen in Worcester. The building department and the fire codes inspectors keep raising the bar on what they will accept. When the building department requires new wiring or the fire inspector requires sprinklers, the cost of the building goes up. This makes rents and sale prices rise. This is one of the main reasons that long-term residents of Worcester are being pushed to places like Webster and Southbridge, which are more affordable communities.
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