Abstract
Despite advances in understanding green building performance inproperty markets, the green development process is poorly understood.Green development adopters change firm structure in three ways to makeadoption of environmental innovation easier: they take greater controlof the projects, they seek more patient capital (either by identifying apatient investor or by providing more equity), and they create longerterm relationships with design and construction talent. Through a webbasedsurvey, and follow-up interviews with two survey respondents, thepaper examines three hypotheses: (1) green development adopters andtheir investors take a longer-term stake in projects; (2) price competitionis less important than competition over quality, and (3) the developertakes greater control, especially in the provision of design andconstruction services.
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