Results of the Hudson Valley Green Real Estate Development Sentiment Survey

In an exclusive Hudson Valley Green Real Estate Development Sentiment Survey produced in conjunction with the conference, respondents indicate business activity in the sector despite feeling that overall business conditions will remain the same in the next six months.

Of those polled, 78 percent of the respondents say they expect to take advantage of green economic development incentives in the coming year while 21 percent say they were not sure. One percent would not seek incentives.

The large number of respondents saying they were seeking incentives indicates that there is development activity in the green real estate segment of the market. Even so, 48 percent of the respondents say they expect overall business conditions to remain the same as it is now in the coming six months. Of those polled, 43 percent see business improving while just 9 percent expect a decline.

Of the comments written in regard to which incentives would be sought, many cited NYSERDA and/or HUD programs as well as federal stimulus monies. When asked what they consider to be the top challenges to green economic development in the Hudson Valley, "project funding" garnered the most votes with 33 percent while "regulatory hurdles" took a 31 percent share. The latter speaks to processes such as SEQRA, which can slow or stall a project for months or even years.

In the "other" category, those polled say owner awareness of green development benefits, public support, and an antiquated appraisal process were hurdles to moving green projects along.