Firms interested in pursuing PPPs should consider non-traditional models such as greening our large portfolio of public buildings. The value of public-private partnerships is evaluated over the entire life of the project-not just the first costs. A model could be developed whereby, either through a solicited or unsolicited proposal, teams propose a design/build/finance/operate/ maintain project for existing aging buildings where sustainability is the key driver.
The greening[xlv] of the Empire State Building (strictly a private project) through the combined efforts of the Clinton Climate Initiative, Johnson Controls Inc., Jones Lang LaSalle, and the Rocky Mountain Institute is an example. The project includes "a major sustainability retrofit", being undertaken in an effort to reduce energy consumption by 38 percent, reducing energy costs for the building by $4.4 million annually. By making the investment in the building, tenants should be easier to attract and retain.