in the construction schedule. Reduced costs included saved interest on construction loans and additional rental income generated by earlier opening dates.” Similarly, the chart below, published by WoodWorks, illustrates the potential reduction in the construction schedule of that same 25% amount. Source: Woodworks – Wood Products Council (woodworks.org) Speaking of construction cost savings, there can also be significant time and labor involved with the selection, shipping, and installation of finish materials. Part of the beauty of specifying a mass timber structural system is that it can become the structure and the finish. Depending on the building type, size, and financial investments that would otherwise be used in ceiling clouds, wall finishes, coatings, etc., there can be substantial savings involved with this aspect of mass timber usage as well. Increase in Productivity and Value A third advantage of mass timber use that can have a long-term effect financially is its contribution to increased employee productivity and public health. In public buildings, owners understand that it is in their best interest, from a financial standpoint, to produce buildings that encourage health and quality of experience by incorporating nature into the space where possible. This principle of biophilic design has been studied by many researchers in the AE fields and beyond. Anthony Klotz, Associate Professor of Management at the University College of London, wrote in the MIT Sloan Management Review, “We spend about 92% of our lives indoors, on average,” and that as humans, “We still harbor a strong innate desire to be in contact with natural elements and processes. When we don’t [fulfill that desire] … we are more susceptible to stress, depression, and aggression.” Mass timber use in buildings allows for significant amounts of nature to be introduced to spaces for work, living, healing, playing, etc., and can largely contribute to the effects Klotz describes. The overall increase in productivity and value, though not a hard-cost savings item, can be a significant contributor to long-term financial value for owners and the public. Conclusion Though mass timber use has continued to grow in the Utah and Mountain West markets over the last decade, one question that lingers is “What is the holistic financial value of using a mass timber system, when the dollar-to-dollar numbers, as compared to the equivalent system using steel or concrete, is potentially higher? Is that value worth investing in?” Market differentiation, increase in productivity and value, and construction-related financial savings, are three pieces of that picture. Depending on the specifics of the project, these items should be worth careful consideration in future projects. 20 REFLEXION
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