Q&A: David Baum, Green Exchange
David Baum, of Chicago-based Baum Development LLC, spoke with Green Building News about his new project, Green Exchange, a sustainably designed commercial center that will offer consumers a source for green products and services.
Q: Why is now a good time for a green retail center?
A: More than ever, people are starting to realize the importance and urgency of environmental issues like global warming. The move “An Inconvenient Truth,” in particular, opened a lot of people’s eyes to the clear impact of our actions on the environment. The general public is ready to change but needs a bit of guidance. Green Exchange will make the green alternative more convenient, chic and it will appeal to the very large number of people on the brink of going green.
Furthermore, a growing number of businesses are understanding what it means to go green. A small change in a large nationwide company can make a drastic difference.
This combination of consumers seeking eco-friendly alternatives and the growing number of businesses providing them makes now the perfect time for Green Exchange.
Q: What sustainable concepts will you include?
A: Green Exchange will be a LEED building with an anticipated silver certification. The building was a former factory and we are reusing and preserving the structure and exterior. We are hoping to make the building a historic landmark as well.
Building features include a green roof and green courtyard, bike rooms, priority hybrid parking and electric car outlets, an educational foyer and a rainwater cistern.
We are requiring our tenants to provide green products and/or services and be actively working to expand the green marketplace through education about sustainability or by selling a product that is environmentally conscious.
Q: Is Chicago a good area to launch an idea like this?
A: Yes. Chicago Mayor Richard M. Daley is adamant about making Chicago one of the greenest cities in the world. Working to incorporate green roofs, more energy efficient buildings and recycling programs in Chicago, he has become a recognized leader for his progressive environmental initiatives, especially considering Chicago’s size.
In response, Chicagoans have been very receptive and are progressive and outspoken regarding their concern for the environment. But this model can work in a lot of other cities as well.
Q: What other sustainable trends are occurring in Chicago?
A: There are a growing number of green buildings and green roofs. City Hall has a green roof and Chicago is home to the world’s largest green roof, Millennium Park. Green Festival — a large conference of green businesses from around the country — is coming to Chicago for the first time. Also, more businesses focusing on the triple bottom line, carbon neutrality and general concern for the environment are cropping up.
Q: What kinds of stores/products will be featured at Green Exchange?
A: There will be a vast and eclectic mix of products and services available at Green Exchange. Soon you will be able to buy products from our tenants on our Web site at www.greenexchange.com .
The Web site will offer green apparel, handbags, accessories, furniture, gifts and a variety of other attractive products, some of which will be available exclusively through Green Exchange.
Q: Will green products be more expensive than regular products?
A: A lot of green products are a little pricier at the outset but as the products go mainstream, there are economies of scale and they end up being priced the same. With a higher demand for green products and as more companies offer them, they will become more affordable.
Q: Who is your target customer?
A: The goal of Green Exchange is to expand the green marketplace and make it easier and more convenient to purchase sustainable products and services. We feel there are a lot of people who would make more eco-friendly decisions if it were easier and more available. Of course we want people already concerned about the environment to come to Green Exchange, but we want Green Exchange to convert the consumer who is concerned for the environment and has just not made the shift. Green Exchange will make going green easy and will increase the number of consumers who buy sustainable products and services.