Tuesday, March 17, 2009

OMG ! EIK, WIC & FTCW ! Real estate acronyms 101, Title 24 & You.

Many people are familiar with the sometimes hilarious acronyms that Realtors use as shorthand to make the most of expensive ad space. EIK, WIC & WBF are more commonly known as eat in kitchens, walk in closets and wood burning fireplaces.

One acronym I have wanted to use but realized no one would understand is FTCW. FTCW or Floor-to-ceiling windows have become one of those encoded signifiers of style and luxury at most of the new and newer Downtown developments. Along with the prerequisite stainless, granite, and hardwood; FTCW have become one of the defining architectural characteristics of new buildings like Millennium, Infinity, & BLU. In Realtor prose, almost always preceded by "Stunning views framed by...", FTCW make even modest square footage feel larger and lighter which also allows developers to charge a premium for these homes even if they are smaller than comparable properties.

What few people realize is that this dramatic feature will most likely become a thing of the past since Title 24 came into law as part of the 2007 California Energy Code. Title 24 was passed in response to increasing energy costs and awareness about our dwindling natural resources back in 2007 when, if you referred to a building as "green", most people assumed you were talking about the exterior color. When you consider heating and cooling these ultra-glazed spaces, it does seem a bit extravagant given our current circumstances.

The new Energy Code increases the efficiency standards for almost all aspects of both commercial and residential new construction. Although most of the changes won't be discernible to the average buyer, a tower sporting a luscious all-glass facade certainly makes a different impression than a window and panel sheathed building. Think Millennium vs The Metropolitan or Heidi Klum vs Barbara Bush. You get the picture.

The current batch of high rises that make use of FTCW-- or glass curtain wall construction-- were designed and approved before the adoption of the 2007 code leaving One Hawthorne perhaps the last high rise under construction in San Francisco to utilize this design feature. Will the current vogue for endless sight lines diminish in a more frugal and less ostentatious age? Or will the glass towers become more desirable in the future compared against their more conservative, hemmed-in and energy efficient neighbors ?

OTWT,TTFN (Only time will tell, ta ta for now).

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