The significance of embodied carbon in construction and development is growing, and the government’s green bank wants to encourage more use of wood.
will invest $70 million in Hines’ planned 15-level hybrid timber office in Melbourne, the first of a series of investments aimed at encouraging the take-up of timber construction materials to absorb carbon and reduce the emissions of new buildings.
“It means that the project is effectively fully funded to complete the entire building contract all the way through to completion,” CEFC joint head of property Ryan Rathborne toldCEFC expects a 6 per cent return on its loan, intended to cover construction plus a lease-up period of the building.It was paused by the pandemic and the building underwent a redesign for a living-with-COVID world. Completion is expected mid to late next year.
“Using mass timber and engineered wood products is an important way to reduce that up-front embodied carbon within construction projects.”“Mass timber” refers to a range of materials such as laminated veneer lumber, glue laminated timber and cross laminated timber.The building, designed by Jackson Clements Burrows Architects and named T3 Collingwood, will use about 4000 cubic metres of wood for the structural frame, fixing in place about 3000 tonnes of carbon.
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