Impact of Buildings on Tenants
To measure the impact a building has on its residents/tenants, it is necessary to understand what standards or certifications exist for buildings (real estate) that measure the holistic impact (social, psychological, physical, emotional) on the welfare of its inhabitants. Furthermore, to understand what universities have research departments at the intersection of real estate and impact investing/social good.
- Fitwel's scorecard has more than 55 evidence-based design and operational strategies that address "a broad range of health behaviors and risks."
- Strategies are divided into seven categories which are influenced: impacts surrounding community health, morbidity and absenteeism, social equity and vulnerable populations, well-being, access to healthy foods, occupant safety, and increased physical activity.
- Certification occurs on three levels. The first level is achieved when 90-104 points are obtained, the second level is achieved when 105-124 points are achieved and the third level is obtained when 125-144 points are achieved.
- This article provides a comparison between WELL and Fitwel Certification
The International Living Future Institute (ILFI)
- This institute provides three certifications: for buildings, for manufactured goods and for communities.
- Its standards for buildings is called the Living Building Challenge and focuses more on providing rigorous standards for green buildings than the LEEDS certification
- Its Living Community Challenge, however, takes a more holistic approach for the urban design of a living community. It looks at seven performance areas: Place, Water, Energy, Health and Happiness, Materials, Equity, and Beauty.
Summary of Findings
- During the initial hour of research, we focused on finding standards or certifications that measure the holistic impact of buildings on the welfare of inhabitants.
- The only standards and certifications found were those of WELL of the International Wellbeing Institute and Fitwell. Other standards focused on the sustainable aspects and energy efficiency of buildings.
- WELL was not expanded on as it was already mentioned in the chat.
- No research was done on what universities have research departments at the intersection of real estate and impact investing/social good.
Proposed next steps:
You need to be the project owner to select a next step.
Wonder can continue the research and search for an additional competitor to WELL and Fitwell (please note that there may not be an additional competitor). For each of the standards/certifications (WELL, Fitwell, and competitor), we can list the certifications they provide, assess how their standards address social, psychological, physical (health), and emotional impacts and provide 2-3 examples of buildings that were certified under their standards.
We can also search for 4-5 universities that have research departments that focus on real estate and impact investing/social good (thus the combination of the two). The focus would be on universities in the US (kindly mention in the comments if the geographic focus should be global). We would provide the name of the university, the name of the (research) department, the link to the department's website, and a description of how this particular university/(research) department combines real estate and impact investing/social good.