Facades-as-a-Service: Systemic managerial, financial, and governance innovation to enable a circular economy for buildings. Lessons learnt from a full-scale pilot project in the Netherlands

May combine two claims.

If performance requirements include environmental and CE indicators, PSS allow decoupling value-creation from resource consumption while promoting regenerative industrial practices.

“If the performance requirements include environmental and CE indicators, PSS allow decoupling value-creation from resource consumption while promoting regenerative industrial practices (Fischer et al., 2012;Vezzoli et al., 2017).”

• cites Fischer et al., 2012Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

• cites Vezzoli et al., 2017 sourcePartly supported

  Chapter 2 describes PSS as creating value without increasing resource consumption, and section 2.1 discusses reuse, remanufacturing, recycling, and resource savings. The design-criteria appendix includes environmental criteria and resource-conservation measures, but our copy does not establish that including environmental and circular-economy indicators in performance requirements is sufficient to produce the claimed outcomes. Section 2.1.7 cautions that not all PSS deliver environmental benefits. (LLM, conf=0.84)

  Experimental — accuracy not yet measured

Probably not a substantial claim: may not pass S3 (load-bearing).

A full decision for a FaaS renovation couldn't yet be taken, as it required further research.

“A full decision for a FaaS renovation couldn't yet be taken, as it required further research, but once the BAU scenario was placed on hold, a decision would have to be made on whether the CiTG's East façade would be renovated by Q4.2019, or the BaU scenario would be reinstated to prevent damage to the façade.”

Probably not a substantial claim: may not pass S2 (checkable).

In several instances, circular arguments spanning across disciplines block progress for the whole industry.

“In several instances, circular arguments spanning across disciplines block progress for the whole industry.”

Probably not a substantial claim: may not pass S4 (based).

Alternative models for financing and managing PSS alternatives, such as the SPV model, rely on customized and untested interpretations of building, rental, and property laws.

“Alternative models for financing and managing PSS alternatives, such as the SPV model illustrated in Figure 5, rely on customized and untested interpretations of building, rental, and property laws.”

May combine two claims.

The financing of the façade is not backed by a complete real estate asset, as would be the case in a traditional mortgage-backed loan, and since the value of the façade as an independent asset at any given time is difficult to estimate, the financial construction is backed largely by the solidity of the building owner as FaaS customer, resulting in capital costs similar to those of a business loan

“The financing of the façade is not backed by a complete real estate asset, as would be the case in a traditional mortgage-backed loan.Since the value of the façade, as an independent asset, at any given time is difficult to estimate, the financial construction is backed largely by the solidity of the building owner as FaaS customer.This results in capital costs similar to those of a business loan,”

May combine two claims.

Direct purchasing of the façade would be marginally cheaper from a Total Cost of Ownership perspective over 15 or 30 years, but leasing (or PSS contracting) of the façade would be more attractive from a cash-flow perspective.

“Direct purchasing of the façade would be marginally cheaper from a Total Cost of Ownership perspective over 15 or 30 years, but leasing (or PSS contracting) of the façade would result more attractive from a cash-flow perspective.”

May combine two claims.

The residual value of the FaaS components could not be estimated or considered in the financial evaluation model, and the consulted banks were unwilling to assume any risks related to the residual value of physical components.

“The residual value of the FaaS components could not be estimated or considered in the financial evaluation model, and the consulted banks were unwilling to assume any risks related to the residual value of physical components.”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

The choice was made to split the decision in two: in Q3.2019 green light was given to the technical CiTG East façade renovation project, and the decision whether to implement the FaaS model would be delayed until further research was carried out in early 2020.

“The choice was then made to split the decision in two: In Q3.2019 green light was given to the technical CiTG East façade renovation project, so that planning and fabrication could start, and the façade could be replaced between late Q2.2020 and Q4.2020.The decision whether to implement the FaaS model would be delayed until further research was carried out in early 2020.”

May combine two claims.

Several constraints resulted difficult to overcome, and the final decision was not to enter a full PSS-based FaaS contracting and financing model covering all requirements from Table 1.

“Several constraints resulted difficult to overcome, and the final decision was not to enter a full PSS-based FaaS contracting and financing model covering all requirements from Table 1.”

Probably not a substantial claim: may not pass S4 (based).

Building projects are frequently transferred from short-term parties responsible for developing and building the project to long-term parties responsible for operating it.

“Building projects are frequently transferred from short-term parties responsible for developing and building the project, to long-term parties responsible for operating it.”

May combine two claims.

Since no energy performance or user comfort improvement was expected from a minimal intervention, there was no pressure from the end-user to schedule these measures sooner.

“On the other hand, since no energy performance or user comfort improvement was expected from a minimal intervention, there was no pressure from the end-user (the CiTG faculty) to schedule these measures sooner.”

Probably not a substantial claim: may not pass S3 (load-bearing).

A minimum scheduled maintenance could not be put on hold indefinitely because corrosion would start affecting the window frames to an irreversible extent.

“However, on the one hand, a minimum scheduled maintenance could not be put on hold indefinitely while other options were weighted, because corrosion would start affecting the window frames to an irreversible extent.”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

VAT must be paid by the FaaS owner but can be deducted since the façade is a business operating asset.

“VAT must be paid by the FaaS owner but can be deducted since the façade is a business operating asset.”

• AssumptionRests on an assumption: VAT can be deducted since the façade is a business operating asset.

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

Contracting models aim to minimise disputes by concentrating ownership.

“Contracting models, which are closely related to project finance and bankability, aim to minimise disputes by concentrating ownership.”

Classified as probably not a substantial claim. May combine two claims.

At the time of façade construction completion the façade would usually become legal and economic ownership of the building owner, so that its transfer to a third-party entity would result in property transfer taxes.

“At the time of the façade construction completion the façade would usually become legal and economic ownership of the building owner, so that its transfer to a third-party entity would result in property transfer taxes.”

• AssumptionRests on an assumption: At the time of façade construction completion the façade would usually become legal and economic ownership of the building owner.

Classified as probably not a substantial claim. May combine two claims.

At the time (2020) TUD had to make decisions on the renovation of three of its largest buildings, and resources allocated to these projects in that year's budget were only sufficient for one of them.

“At the time (2020) TUD had to make decisions on the renovation of three of its largest buildings, and resources allocated to these projects in that year's budget was only sufficient for one of them.”

May combine two claims.

VAT and property transfer tax have a significant impact on the PSS contracting of building components and are the object of some uncertainty due to their fiscal novelty.

“Value Added Tax (VAT) and property transfer tax have a significant impact on the PSS contracting of building components and are the object of some uncertainty due to their fiscal novelty.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

From a policy and legislative perspective, the implementation of PSS contracting models represents a significant change from a status quo built on centuries or even millennia of legal precedence.

“From a policy and legislative perspective, the implementation of PSS contracting models represents a significant change from a status quo built on centuries or even millennia of legal precedence.”

Probably not a substantial claim: may not pass S4 (based).

The procurement process traditionally focuses on specifying technical solutions rather than establishing functional requirements.

“The procurement process traditionally focuses on specifying technical solutions, rather than establishing functional requirements.”

May combine two claims.

Additional softer values such as expected energy savings and estimated productivity value of increased user comfort were calculated as a reference and considered in the decision-making process, but were not prioritised.

“Additional softer values such as expected energy savings and the estimated productivity value of increased user comfort were calculated as a reference, and considered in the decision-making process, but were not prioritised.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

If the façade wasn't improved at the time, another 6-10 years would pass before the BAU maintenance had depreciated down to zero, and a decision could once again be considered.

“If the façade wasn't improved at the time, another 6-10 years would pass before the BAU maintenance had depreciated down to zero, and a decision could once again be considered.”

• AssumptionRests on an assumption: The BAU maintenance would depreciate down to zero in 6-10 years.

Probably not a substantial claim: may not pass S4 (based). May combine two claims.

Long-term performance is frequently beyond producer responsibility, as is environmentally responsible or circular treatment of material resources.

“Long-term performance is frequently beyond the producer responsibility, as is environmentally responsible or circular treatment of material resources.”

May combine two claims.

Several models exist for circumventing the legal barrier of accession, but these models are based on innovative interpretations of rental and real estate law and therefore carry a risk in the case of litigation.

“While several models exist for circumventing this legal barrier, these models are based on innovative interpretations of rental and real estate law, and therefore carry a risk in the case of litigation.”

• AssumptionRests on an assumption: In the Netherlands and many other nations built on Western European and Roman law, the rule of accession gives building owners ownership of all fixtures attached to a building that can't be removed without damaging the building or affecting its performance.

Probably not a substantial claim: may not pass S4 (based).

According to most fiscal advisors consulted, once the first fabricated façade modules are being fixed onto the building, the building owner will automatically become legal owner of the façade panels.

“According to most fiscal advisors consulted, once the first fabricated façade modules are being fixed onto the building, then the building owner will automatically become legal owner of the façade panels.”

Probably not a substantial claim: may not pass S3 (load-bearing).

Several tax advisors provided conflicting views on how the Dutch tax authorities would react to the question of transfer tax in the PSS scenario.

“Several tax advisors provided conflicting views on how the Dutch tax authorities would react to the question of transfer tax in the PSS scenario.”

Probably not a substantial claim: may not pass S3 (load-bearing).

The smart façade technical systems algorithm controls operating conditions for the façade's external sun-shading system and night-cooling system and is therefore determinant to the correct functioning of the façade in relation to the technical service requirements established in the service agreement, such as user comfort.

“The smart façade technical systems algorithm controls operating conditions for the façade's external sun-shading system and night-cooling system and is therefore determinant to the correct functioning of the façade in relation to the technical service requirements established in the service agreement, such as user comfort.”

May combine two claims.

A company was found with a new method for separating asbestos from steel, but their processing plant was under construction and would not be ready for another 2 years, during which time TUD would remain legally responsible for the correct management of the asbestos-containing steel frames.

“A company was found with a new method for separating asbestos from steel, however their processing plant was under construction and would not be ready for another 2 years, during which time TUD would remain legally responsible for the correct management of the asbestos-containing steel frames.”

May combine two claims.

The project manager's experience as a technical building consultant enabled him to negotiate the FaaS service agreement with the FaaS provider, shifting the procurement process from the prescription of technical solution to an agreement based on functional requirements, including sustainability and circularity.

“The project manager's experience as a technical building consultant enabled him to negotiate the FaaS service agreement with the FaaS provider, shifting the procurement process from the prescription of technical solution to an agreement based on functional requirements, including sustainability and circularity.”

Classified as probably not a substantial claim.

A clear demarcation had to be found on which factors the FaaS supplier consortium could be held liable for.

“On the other hand, a clear demarcation had to be found on which factors the FaaS supplier consortium could be held liable for.”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

The evaluation included a cash-flow and a TVO analysis, both performed with planning horizons of 15 and 30 years.

“The evaluation thus included a cash-flow and a TVO analysis, both studies we performed with planning horizons of 15 and 30 years.”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

In the case of the CiTG façade, no valuator could commit to a final response, but rather three arguments emerged.

“In the case of the CiTG façade, no valuator could commit to a final response, but rather three arguments emerged which are summarised below.”

May combine two claims.

The solution found overcomes contractual and financial barriers by integrating bank, client, and FaaS provider with a fourth stakeholder: a Special Purpose Vehicle (SPV), created in most likelihood by a real estate investment and management fund used to dealing with long-term building projects.

“The solution found, as summarized in the Figure 5 diagram, overcomes these contractual and financial barriers by integrating bank, client, and FaaS provider with a fourth stakeholder: a Special Purpose Vehicle (SPV), created in most likelihood by a real estate investment and management fund used to dealing with long-term building projects.”

May combine two claims.

The commissioner considered the risk too high and decided to traditionally dispose of the equipment in a way that is safe but prevents the recovery of the contaminated materials.

“This was considered too high a risk by the commissioner, and the decision was made to traditionally dispose of the equipment in a way that is safe but prevents the recovery of the contaminated materials.”

May combine two claims.

This process was impossible within the remaining timeframe, exacerbated by time constraints established by the CiTG façade's technical replacement planning, and its strict delivery deadline before the end of Q4 2020.

“This process was impossible within the remaining timeframe, exacerbated by time constraints established by the CiTG façade's technical replacement planning, and its strict delivery deadline before the end of Q4.2020.”

May combine two claims.

As a public organisation TUD has access to direct government borrowing at preferential rates, so that financing the project via a commercial third party (the SPV FaaS provider) would involve a higher Cost of Capital.

“As a public organisation TUD has access to direct government borrowing at preferential rates, so that financing the project via a commercial third party (the SPV FaaS provider) would involve a higher Cost of Capital.”

Probably not a substantial claim: may not pass S3 (load-bearing).

To what extent externalising the façade legal and/or economic ownership would affect the value of the building as collateral was the subject of significant academic and professional debate in the FaaS project.

“To what extent would externalising the façade legal and/or economic ownership affect the value of the building as collateral was the subject of significant academic and professional debate in the FaaS project.”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

After reviewing these results, the building owner TUD decided to undergo a deep energy renovation, but not to finance it through PSS because as a public university they did not expect a significant financial performance from an alternative investment, rendering one of the key values behind a PSS model invalid.

“After reviewing these results, the building owner TUD decided to undergo a deep energy renovation, but not to finance it through PSS because as a publicly university they did not expect a significant financial performance from an alternative investment, rendering one of the key values behinds a PSS model invalid.”

May combine two claims.

In the case of the CiTG building, the existing façade included asbestos, so that the deconstruction of the façade was not practically possible.

“In the case of the CiTG building, the existing façade included asbestos (as was usual at the time of construction), so that the deconstruction of the façade was not practically possible.”

May combine two claims.

The FaaS pilot project showcased both sides of the innovation push/pull argument: to enter a full PSS contract, TUD's commissioners had to integrate the scope, expertise, and budget of the project development and facility management teams, and even of the end-user faculty, in order to provide a complete list of functional requirements.

“The FaaS pilot project showcased both sides of the innovation push/pull argument: to enter a full PSS contract, on the one hand TUD's commissioners had to integrate the scope, expertise, and budget of the project development and facility management teams, and even of the end-user faculty, in order to provide a complete list of functional requirements.”

May combine two claims.

This resulted in an unknown and unexpected risk for TUD as commissioner and was a crucial point in the final decision not to implement a full PSS model for the CiTG façade renovation.

“This resulted in an unknown and unexpected risk for TUD as commissioner and was a crucial point in the final decision not to implement a full PSS model for the CiTG façade renovation.”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

Some tax advisors suggested that transfer tax would not be applicable if the façade was transferred to the FaaS SPV before the project officially concluded and technically delivered, but this could not be verified until it was implemented, resulting in a 6% risk for TUD over the entire new façade's transactional value.

“Some tax advisors suggested that transfer tax would not be applicable if the façade was transferred to the FaaS SPV before the project officially concluded and technically delivered, but this could not be verified until it was implemented (resulting in a 6% risk for TUD over the entire new façade's transactional value).”

May combine two claims.

The CiTG project's relatively small scale and tight construction schedule made it impossible to develop and integrate new technical solutions for a more circular façade system in time, but the consortium involved in the project, together with other industry parties, continued working on these technical challenges and developed the Ciskin façade system beyond the scope of the project.

“The CiTG project's relatively small scale and tight construction schedule made it impossible to develop and integrate new technical solutions for a more circular façade system in time, however, the consortium involved in the project, together with other industry parties, continued working on these technical challenges and developed the Ciskin façade system beyond the scope of the project (Alkondor”

• cites Alkondor, de Groot & Visser, and Wicona 2022Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based). May combine two claims.

No references could be found in either literature or case law, rendering the question open until the Dutch tax authorities ruled a decision on the matter.

“However, no references could be found in either literature or case law, rendering the question open until the Dutch tax authorities ruled a decision on the matter.”

Probably not a substantial claim: may not pass S3 (load-bearing).

A state-of-the-art curtain wall consisting of framing, glazing, panelling, and other potentially integrated decentralised components could be clearly defined as a self-contained physical object.

“The curtain wallwhich consists of framing, glazing, panelling, and other potentially integrated decentralised components such as solar shading, actuators, or BiPV unitscould be clearly defined as a self-contained physical object.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based). May combine two claims.

As a result of the ongoing Dutch housing crisis these values have changed and exceptions have been created since the CiTG project; these changes would influence the extent to which fiscal policy could hinder a FaaS model.

“As a result of the ongoing Dutch housing crisis these values have changed, and exceptions have been created since the period during which the CiTG project was ongoing.These changes are not directly relevant to the present study, but they would influence the extent to which fiscal policy could hinder a FaaS model.”

May combine two claims.

Because the loan for financing the project would be granted to the FaaS provider (consortium), it would not be guaranteed by the client's building, and the value of the façade is uncertain; several combinable options to secure servicing of the loan were explored (financial insurance, buy-out option, and FaaS take-over option).

“• Since the loan for financing the project would be granted to the FaaS provider (consortium), it would not be guaranteed by the client's building.Meanwhile, as described above, the value of the façade is uncertain.In order to secure servicing of the loan several (combinable) options were explored: A financial insurance on the loan servicing, granted to the FaaS provider, but eventually paid for”

Probably not a substantial claim: may not pass S4 (based). May combine two claims.

These aspects resulted in partial implementation of PSS for the façade of the CiTG building; in theory, with full envelope PSS, these aspects could be overcome.

“As mentioned in Task 3, these aspects resulted in partial implementation of PSS for the façade of the CiTG building.In theory, with full envelope PSS, these aspects could be overcome.”

May combine two claims.

In the case of a FaaS contract, parties will seek securities to protect them if other stakeholders voluntarily exit or are forced to exit by unforeseeable events such as bankruptcy; such securities did not exist in the current construction and real estate market and had to be developed during the CiTG project.

“In the case of a FaaS contract, parties will seek securities to protect them in case any of the other stakeholders wish to voluntarily exit the agreement or are forced to exit by unforeseeable events such as bankruptcy.Such securities don't exist in the current construction and real estate market and had to be developed during the CiTG project.”

• AssumptionRests on an assumption: The individuals representing organisations that enter a decades-long contractual relation will no longer be part of these organisations by the end of the contract.

May combine two claims.

The biggest challenge to physical demarcation lies in cabling and piping, which could be largely interconnected with the centralized building services infrastructure; as the PSS in FaaS was only partially implemented, this aspect was left unresolved.

“Probably the biggest challenge to this physical demarcation lies in cabling (e.g.electricity and ICT) and piping (e.g.heating and ventilation), which could in many cases be largely interconnected with the centralized building services infrastructure.As the PSS in FaaS was only partially implemented (as a service contract without lease), this aspect was left unresolved.”

May combine two claims.

None of the financiers consulted would consider a loan longer than a traditional mortgage, nor would they consider a positive balance in the project's cashflow resulting from the potentially recoverable value of (potentially more circular) components and materials.

“None of the financiers consulted would consider a loan longer than a traditional mortgage, nor would they consider a positive balance in the project's cashflow as a result of the potentially recoverable value of (potentially more circular) components and materials.”

May combine two claims.

A façade reuse/remanufacturing broker can facilitate the transaction between one FaaS contract and the next, so that a FaaS system removed from a building can be adjusted to fit onto another one; such parties are starting to emerge in the Dutch context.

“• A façade reuse/remanufacturing broker can facilitate the transaction between one FaaS contract and the next, so that a FaaS system removed from a building can be adjusted to fit onto another one.Such parties are starting to emerge in the Dutch context.”

May combine two claims.

A party was found willing to purchase a future buy-option on the FaaS; this option was not attractive in the CiTG case because TUD would most likely want to continue using the façade for a longer period, and because a buy-option is not an obligation for the buyer while it is for the seller, so the concept was considered too risky.

“In fact, a party was found who was willing to purchase a future buy-option on the FaaS, so that it would have the right to purchase the façade at a given time in the future for a certain price.This option was not attractive in the CiTG case because TUD would in most likelihood want to continue contacting the façade for a longer period.Also, a buy-option is not an obligation for the buyer to”

May combine two claims.

In the FaaS project, the challenge of legal ownership was considered addressed with sufficient certainty and risk-avoidance by the model in which the FaaS provider rents the contact points from the building owner and a right of leasehold is established, avoiding automatic transfer of legal ownership under the rule of accession; the model was considered sufficient by legal academic and practice专家.

“In the FaaS project, the challenge of legal ownership was considered addressed with sufficient certainty and risk-avoidance when the model was proposed in which the FaaS provider would rent the contact points on which the façade would be connected to the structure, from the building owner.A right of leasehold could be established by which the building owner would lease from the FaaS provider the”

Probably not a substantial claim: may not pass S3 (load-bearing).

In terms of technical guarantees that the FaaS system would continue to be serviced even in the event of the Façade Builder's bankruptcy, the Dutch Metal Façade Branch Organisation would commit to finding a new party willing to take over the contract with the SPV.

“• In terms of technical guarantees that the FaaS system would continue to be serviced, even in the event of the Façade Builder's bankruptcy, the Dutch Metal Façade Branch Organisation would commit to finding a new party willing to take over the contract with the SPV.The new party would then continue to perform technical maintenance on, as well as end-of-service processing of, the FaaS system.”

May combine two claims.

The construction and real estate market is failing to assign a fair value to climate-change mitigation strategies, or to fairly appraise the risks of non-mitigation.

“The construction and real estate market is, in other words, failing to assign a fair value to climate-change mitigation strategies, or to fairly appraise the risks of non-mitigation.”

Probably not a substantial claim: may not pass S3 (load-bearing).

PSS have gained increasing traction as a potential instrument to enable the Circular Economy transition.

“Product-Service Systems (PSS) have gained increasing traction (Camilleri, 2019) as a potential instrument to enable the Circular Economy transition.”

• cites Camilleri, 2019 sourceNot checked — no full text of the source

Probably not a substantial claim: may not pass S2 (checkable), S4 (based).

The redistribution of incentives, responsibilities, and risks proposed by PSS models could support addressing the administrative systemic challenges previously mentioned.

“This since the redistribution of incentives, responsibilities, and risks proposed by PSS models could support addressing the administrative systemic challenges previously mentioned.”

Probably not a substantial claim: may not pass S4 (based).

A limitation of studies on PSS for the built environment so far is their theoretical nature.

“A limitation of the studies so far is their theoretical nature.”

May combine two claims.

These risks may translate into disputes during the decades-long contracting periods required from built environment technical components, or may currently translate into added complexity and cost of financing.

“These risks may translate into disputes during the decades-long contracting periods required from built environment technical components, or which may -and currently does-translate into added complexity and cost of financing.”

Probably not a substantial claim: may not pass S2 (checkable), S4 (based).

The hurdles and conditions described are common to different types of real estate owners and project investment decisions around the world.

“The hurdles and conditions described are common to different types of real estate owners and project investment decisions around the world.”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

Due to extensive similarities between tax policies, a transfer tax is expected to result in considerable additional costs and should be considered in the project's financial and fiscal planning.

“This is unique to each country's tax code, but due to the extensive similarities between tax policies such a transfer tax is expected to result in considerable additional costs and should be considered in the project's financial and fiscal planning.”

Classified as probably not a substantial claim.

The implementation of performance-based models currently faces significant practical hurdles.

“However, their implementation currently faces significant practical hurdles.”

Probably not a substantial claim: may not pass S2 (checkable), S4 (based). May combine two claims.

Performance-based models can be an administrative alternative that addresses internal organisation challenges (flexibility and ease of decision-making) and external societal challenges (environmental sustainability).

“On the matter of scalability of these results we consider that performance-based models can be an administrative alternative which addresses internal organisation challenges (flexibility and ease of decision-making) and external societal challenges (environmental sustainability).”

Probably not a substantial claim: may not pass S2 (checkable), S4 (based).

The shift from valuing buildings as full functional units to valuing them as temporary material depositories puts into question the entire solidity of real estate investment markets.

“The shift from valuing buildings as full functional units, to valuing them as temporary material depositories, puts into question the entire solidity of real estate investment markets.”

Probably not a substantial claim: may not pass S4 (based).

The lifecycle of a building project is guided by traditional and well-established processes which aim to minimise uncertainty and risk.

“The lifecycle of a building project -from its initial conceptualisation through its commissioning, operation, and final decommissioning -is guided by traditional and well-established processes which aim to minimise uncertainty and risk.”

May combine two claims.

The traditional linear structuring of organisations results in a loss of potential knowledge exchange between specialists responsible for different lifecycle stages, loss of decision-making complexity, and embedding a linear mentality into the construction management process.

“This results in a loss of potential knowledge exchange between specialists responsible for the different lifecycle stages, loss of decision-making complexity which would benefit choices with a positive performance over the longer term, while embedding a linear mentality into the construction management process.”

Classified as probably not a substantial claim.

The key challenge highlighted by the study is the broad restructuring and rethinking of the ways in which buildings are developed, managed, financed, and legally protected.

“Perhaps the key challenge highlighted by this study is the broad restructuring and rethinking of the ways in which buildings are developed, managed, financed, and legally protected.”

Classified as probably not a substantial claim.

Traditional processes result in systemic inertia across the built environment, resulting in the slow rate of change commonly associated with the construction sector.

“These traditional processes result in systemic inertia across the built environment, resulting in the slow rate of change commonly associated with the construction sector.”

Probably not a substantial claim: may not pass S3 (load-bearing).

The omission of embodied carbon requirements is due to the lack of broadly recognised methodologies for calculating the embodied carbon of circular technical solutions.

“This omission of embodied carbon requirements is due to the lack of broadly recognised methodologies for calculating the embodied carbon of circular technical solutions.”

May combine two claims.

The CiTG building selected for the FaaS project exemplifies the mismatch between the building sector and climate neutrality/long-term sustainability and is an appropriate testbed for the analysis.

“The CiTG building selected for the FaaS project exemplifies this mismatch and is thus an appropriate testbed for our analysis.”

• AssumptionRests on an assumption: The CiTG building is representative of buildings of its time and an appropriate testbed for analysing barriers to FaaS.

May combine two claims.

EU and global waste management policies make the economics of material recovery unfeasible, particularly in countries with high labour costs where such processes fail to generate subsistence-level value.

“This makes the economics of material recover unfeasible, particularly in countries with high labour costs were such processes fail to generate subsistence-level value”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

Retrofit decisions are a challenge common to TUD and other universities due to their relatively old and/or heritage building portfolios.

“Due to their relatively old and/or heritage building portfolios, retrofit decisions are a challenge common to TUD and other universities.”

Probably not a substantial claim: may not pass S3 (load-bearing).

Operational carbon requirements are excluded because they are determined by the building's and TU Delft campus' central energy systems, which are beyond the scope of the CiTG East façade renovation project.

“Operational carbon requirements are also excluded since they are determined by the building's and the TU Delft campus' central energy systems, which are beyond the scope of the CITG's East façade renovation project.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based). May combine two claims.

Most often buildings are demolished, leading to significant material leakage and loss, but in some cases they will be deconstructed in a way that material value can be recovered.

“Most often buildings are demolished, leading to significant 'material leakage' and loss, but in some cases, they will be deconstructed in a way that material value can be recovered.”

Probably not a substantial claim: may not pass S4 (based). May combine two claims.

Improved quality and performance of the building, energy savings, and user comfort would contribute to a higher transactional value of the building and therefore render it a more valuable guarantee as collateral.

“All these factors would contribute to a higher transactional value of the building and therefore would render it a more valuable guarantee as collateral.”

Probably not a substantial claim: may not pass S4 (based). May combine two claims.

The procurement process is not only defined by the strategic priorities, value hierarchy, and organisational structure of the project commissioner, but it is bounded by the range of possible solutions the market presently offers.

“The procurement process is not only defined by the strategic priorities / objectives, value hierarchy, and organisational structure of the project commissioner (the problem-owner), but it is bounded by the range of possible solutions the market presently offers.”

May combine two claims.

Project briefing processes that are too technically prescriptive result in inefficiencies such as commoditised suppliers and products, focus on delivery of prescribed physical products rather than performance, static and depreciating buildings, and failure to factor in service-life performance, end-of-service scenarios, and residual value of components.

“Several authors on project commissioning theory have highlighted the drawbacks in project briefing processes being too technically prescriptive, resulting in inefficiencies such as:”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

The higher project cost of a FaaS alternative would result in a lower debt-bearing capacity of the building owner.

“The higher project cost of a FaaS alternative would result in a lower debt-bearing capacity of the building owner.”

Classified as probably not a substantial claim. May combine two claims.

The SPV would retain legal and economic ownership of the façade, arranging financing and managing the service contract with the FaaS provider in the final interest of the building owner.

“It would retain legal and economic ownership of the façade, arranging financing and managing the service contract with the FaaS provider in the final interest of the building owner (client).”

Classified as probably not a substantial claim.

The SPV would act as a mediator between the collaborating partners.

“The SPV would act as a mediator between the collaborating partners.”

May combine two claims.

The long term of the eventual FaaS contract (15-30 years) means that even if the building were sold, the FaaS contract and the underlying façade would be transferred with it and the building's functional unity would be preserved.

“Also, the long term of the eventual FaaS contract (15-30 years), would mean that even in the case that the building was sold the FaaS contract (and the underlying façade) would be transferred with it and the building's functional unity would be preserved.”

Probably not a substantial claim: may not pass S3 (load-bearing).

Gielingh and co-authors make a distinction between the functional requirements needed by the building owner and end user, and the technical solutions offered by suppliers to fulfil these requirements.

“Gielingh andco-authors (Gielingh 2008, Gielingh et al. 2008) make a distinction between the functional requirements needed by the building owner and end user, and the technical solutions offered by suppliers to fulfil these requirements.”

• cites Gielingh 2008Not checked — no full text of the source
• cites Gielingh et al. 2008Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

Probably not a substantial claim: may not pass S4 (based).

The traditional linear project flow consisting of development, management & exploitation, and decommissioning phases is deeply engrained in the real estate discipline and the structure of building commissioning organisations.

“The traditional linear project flowwhich consists of the development, management & exploitation, and decommissioning phasesis deeply engrained in the real estate discipline and the structure of buildingcommissioning organisations (Figure 4).”

Probably not a substantial claim: may not pass S4 (based).

An asset with a relatively long service-life, such as a façade, is not an easy object to finance for a bank or leasing company, as they would with industrial or office equipment with shorter (<10-year) service lives.

“An asset with a relatively long service-life, such as a façade, is not an easy object to finance for a bank or leasing company, as they would with industrial or office equipment with shorter (<10-year) service lives.”

Probably not a substantial claim: may not pass S4 (based).

The monthly costs of a PSS are higher than those of a purchased façade.

“As the monthly costs of a PSS are higher than in a purchased façade, while the gains from an alternative investments are most likely not considered in the building-specific financial evaluation linked to the project's bankability.”

May combine two claims.

In the absence of a refinancing option the building owner would be forced to purchase the façade, and the PSS model would become ineffective and its circularity potential lost.

“In the absence of a refinancing option the building owner would be forced to purchase the façade, and the PSS model would become ineffective and its circularity potential lost.”

Probably not a substantial claim: may not pass S4 (based).

Retaining, maximizing, and extending the value of materials indefinitely by applying re-life options with both retroactive and proactive circularity leads to positive long-term spill-over effects, such as stabler supply and value chains, savings in pollution taxes or fees, and preventing loss of end-of-service value.

“Retaining, maximizing, and extending the value of materials indefinitely by applying re-life options with both 'retroactive' and 'proactive' circularity leads to positive long-term spill-over effects, such as stabler supply and value chains, savings in pollution taxes / fees, preventing loss of endof-service value, etc.”

Probably not a substantial claim: may not pass S4 (based).

The loss of physical material value of functional unity would be offset by the higher building utility and transactional value.

“The loss of physical material value of functional unity would be offset by the higher building utility and transactional value.”

Probably not a substantial claim: may not pass S3 (load-bearing).

Instead, a 21% VAT would be charged on the monthly FaaS service fees charged by the SPV to the building owner.

“Instead, a 21% VAT would be charged on the monthly FaaS service fees charged by the SPV to the building owner.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

Most likely, as in the case of taxation, whether the building owner kept or could easily contractually recover legal and/or economic ownership of the façade would also determine how the FaaS construction would be treated in a valuation assessment.

“Most likely, as in the case of taxation, whether the building owner kept (or could easily contractually recover) legal and/or economic ownership of the façade would also determine how the FaaS construction would be treated in a valuation assessment.”

Probably not a substantial claim: may not pass S3 (load-bearing).

Due to the uncertain nature of the legal model in the case of a dispute and the lack of precedents in legal literature or case law, a certain and final answer on the legal model could not be provided.

“Due to the uncertain nature of the legal model in the case of a dispute, as will be described below, and the lack of precedents in either legal literature or case law, a certain and final answer could not be provided.”

Probably not a substantial claim: may not pass S4 (based).

The financier would have to commit to a 50-to-70-year financing period, the usual service-life of a façade.

“The financier would have to commit to a 50-to-70-year financing period (the usual service-life of a façade).”

Classified as probably not a substantial claim. May combine two claims.

The SPV can retain a long-term planning horizon, knowing that the facade will probably remain in place for decades, but otherwise brokering a new location where it can be installed.

“The SPV can retain a long-term planning horizon, knowing that the facade will probably remain in place for decades, but otherwise brokering a new location where it can be installed.”

Probably not a substantial claim: may not pass S4 (based). May combine two claims.

Existing technical solutions, such as framing systems and façade-integrated technologies, are already quite capable of allowing a certain degree of updating and reprocessing, so that the field is ripe for this transition.

“It must be noted that existing technical solutions (i.e.framing systems and façade-integrated technologies) are already quite capable of allowing certain degree of updating and reprocessing, so that the field is ripe for this transition.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

The nature of the building project's commissioner's activities has a determinant influence on the prioritisation of values.

“The nature of the building project's commissioner's activities has a determinant influence on the prioritisation of values.”

Classified as probably not a substantial claim. May combine two claims.

Valuation standards and practices are generally risk adverse, and slow to change.

“As a result of this, valuation standards and practices are generally risk adverse, and slow to change.”

May combine two claims.

Loan terms will be longer and interest rates lower, in particular for (semi)public organisations able to borrow directly from the government at national central bank rates.

“Loan terms will be longer and interest rates lower, in particular for (semi)public organisations able to borrow directly from the government at national central bank rates.”

Probably not a substantial claim: may not pass S4 (based).

Conditions would have been expectedly different for a commercial building owner, for whom Cost of Capital is generally higher and more similar to what the SPV FaaS entity could apply for.

“Conditions would have been expectedly different for a commercial building owner (for whom Cost of Capital is generally higher, and more similar to what the SPV FaaS entity could apply for).”

May combine two claims.

Development teams are in most cases different from facility management and decommissioning teams, which leads to a conflict between initial cost short-termism, long-term cost effectiveness, and circularity requirements.

“Development teams are in most cases different from facility management and decommissioning teams.This leads to a conflict between initial cost short-termism, long-term costeffectiveness, and circularity requirements.”

Probably not a substantial claim: may not pass S2 (checkable).

The conclusions of the process highlight the need for a holistic planning process which integrates all relevant fields of knowledge.

“Because of this, the conclusions of this process highlight once again the need for a holistic planning process which integrates all relevant fields of knowledge.”

Classified as probably not a substantial claim.

The higher project costs of a FaaS alternative could be positively counter-balanced, in a valuation, by the gained benefits to the building and its occupiers.

“This higher project costs could be positively counter-balanced, in a valuation, by the gained benefits to the building and its occupiers.”

Probably not a substantial claim: may not pass S4 (based).

In a full Product-Service System model the contracting party prefers not to have legal and economic ownership of the operating assets but would rather outsource these to the third-party service provider.

“In a full Product-Service System model the contracting party prefers not to have legal and economic ownership of the operating assets but would rather outsource these to the third-party service provider.”

May combine two claims.

Building owner, financier, and even FaaS provider can be replaced if the building is sold to a new owner, the first financing term concludes, or the FaaS provider faces bankruptcy or stops providing façade services for any reason.

“Building owner, financier, and even FaaS provider can be replaced if the building is sold to a new owner, the first financing term concludes, or the FaaS provider faces bankruptcy or stops providing façade services for any reason.”

Probably not a substantial claim: may not pass S4 (based).

The gains from alternative investments are most likely not considered in the building-specific financial evaluation linked to the project's bankability.

“As the monthly costs of a PSS are higher than in a purchased façade, while the gains from an alternative investments are most likely not considered in the building-specific financial evaluation linked to the project's bankability.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

The building owner must traditionally hire a demolition or deconstruction company to remove the materials before a replacing building system can be installed.

“The building owner must traditionally hire a demolition or deconstruction company to remove the materials before a replacing building system can be installed.”

Classified as probably not a substantial claim.

Such performance limitations would not apply in the case of a full building envelope PSS intervention.

“It would be expected that such limitations would not apply in the case of a full building envelope PSS intervention.”

Probably not a substantial claim: may not pass S4 (based). May combine two claims.

As part of their due-process obligations, valuators are responsible and liable for following existing valuation standards and for securing to the financial institution guaranteeing the loan that the collateral value of the building has been correctly assessed.

“As part of their due-process obligations, valuators are responsible and liable for following existing valuation standards and securing to the financial institution aiming to guarantee the loan that the collateral value of the building has been correctly assessed.”

Probably not a substantial claim: may not pass S4 (based).

The legal model used to commission the FaaS would have an impact on the (split) ownership of the building, and therefore on the building's value as collateral.

“The legal model used to commission the FaaS would have an impact on the (split) ownership of the building, and therefore the building's value as collateral.”

Probably not a substantial claim: may not pass S4 (based).

It is unrealistic to assume that an already 60-year-old and technically inadequate façade system can remain in place for an additional 30 years, no matter how frequently it is given minimum maintenance.

“This as it is unrealistic to assume that an already 60year-old and technically inadequate façade system can remain in place for an additional 30 years, no matter how frequently it is given minimum maintenance.”

Probably not a substantial claim: may not pass S2 (checkable), S4 (based).

The systemic innovation proposed in the paper could facilitate a shift from Total Cost of Ownership to Total Value of Service.

“The systemic innovation proposed in this paper could facilitate a shift from Total Cost of Ownership to Total Value of Service.”

Classified as probably not a substantial claim. May combine two claims.

Alternatively, a shorter financing period could be agreed, but re-financing risk would have to be borne by the building owner.

“Alternatively, a shorter financing period could be agreed, but re-financing risk would have to be borne by the building owner.”

Probably not a substantial claim: may not pass S2 (checkable), S3 (load-bearing).

Conditions could have also improved if the residual value of the façade was considered in the project's financial evaluation.

“Conditions could have also improved if the residual value of the façade was considered in the project's financial evaluation.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

In recent years the discussion around Total Cost of Ownership (TCO) and Total Value of Ownership (TVO) has emphasised the relevance of softer values and liabilities.

“In recent years the discussion around Total Cost of Ownership (TCO) and Total Value of Ownership (TVO) has emphasised the relevance of softer values and liabilities.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based).

In the case of a PSS model, the 21% VAT would be deducted by the FaaS SPV as a commercial business expense, and would therefore not be charged to the building owner up front.

“In the case of a PSS model, the 21% VAT would be deducted by the FaaS SPV (as a commercial business expense), and would therefore not be charged to the building owner up front.”

Probably not a substantial claim: may not pass S3 (load-bearing).

Loss of income related to the building's operation would lead to incapacity to service the loan.

“Loss of income related to the building's operation would lead to incapacity to service the loan.”

Classified as probably not a substantial claim.

Solid real estate that is inflexible to changes could be acknowledged as a liability when compared with more flexible and 'liquid real estate'.

“Solid real estate, inflexible to changes, could be acknowledged as a liability when compared with more flexible and 'liquid real estate' (den Heijer et al., 2016).”

• cites den Heijer et al., 2016Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

May combine two claims.

As a result of the higher risk profile of commercial organisations, loans tend to be for a shorter period and involve a higher interest rate.

“As a result of this, loans tend to be for a shorter period and involve a higher interest rate.”

Probably not a substantial claim: may not pass S4 (based).

The key circular value proposition in the built environment is to convert a building owner's liability to manage their building materials in a circular way into a financial incentive or an asset for the providing entities.

“The key circular value proposition in the built environment is to convert a building owner's 'liability' to manage their building materials in a circular way, into a financial incentive or an asset for the providing entities.”

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based). May combine two claims.

Transfer tax is not charged if less than 6 months have passed between a previous ownership change and a new one, in which case the buyer in the second transaction covers the transfer taxes paid by the buyer in the first; double transfer taxation can thus be avoided but must be paid when more than 6 months have passed between the first and second transfer.

“Transfer tax is not charged if less than 6 months have passed between a previous ownership change and a new one, in which case the buyer in the second transaction will cover the transfer taxes paid by the buyer in the first transaction.Thus, can double transfer taxation be avoided, but it must be paid when more than 6 months have passed between the first and second transfer.”

Probably not a substantial claim: may not pass S3 (load-bearing).

Van der Plank and de Jong (2019) recognise a distinction between tenancy (apartment) law and lease law.

“Van der Plank and de Jong (2019) recognise a distinction between tenancy (apartment) law and lease law.”

• cites Van der Plank and de Jong (2019)Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

Classified as probably not a substantial claim.

As PSS offerings approach 'result oriented' offerings, the definition of technical performance expands to include not only the technical integrity and direct output of components but the final operational outcome the system should deliver to the client's processes.

“As we approach”

• cites Tukker 2004 sourceNot checked — no full text of the source

May combine two claims.

Material markets are generally volatile and have seen particularly unprecedented fluctuations as a result of recent crises such as the COVID-19 pandemic and the consequences of geopolitical conflicts and tension.

“• Material markets: Which are generally volatile, but which have seen particularly unprecedented fluctuations as a result of recent crises such as the ongoing COVID-19 pandemic and the consequences of geopolitical conflicts and tension (World Economic Forum 2022).”

• cites World Economic Forum 2022Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

Probably not a substantial claim: may not pass S3 (load-bearing), S4 (based). May combine two claims.

In a 'functional result' based FaaS contract, the expected contribution of the façade to the client's processes would be the delivery of a specified energy performance, a determined indoor comfort, and a certain degree of circularity.

“In the case of a”

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

The purpose of property law is to offer legal security, to minimise transaction costs, and to maximise and preserve real estate values in society.

“As stated by (Ploeger et al. 2018):”

• cites Ploeger et al. 2018Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

With the rising complexity of buildings and building systems, the essential nature of any individual component can be disputed, so the law has focused on a broad definition of essential components as 'fixtures'.

“With the rising complexity of buildings and building systems, the essential nature of any individual component can be disputed.The law has therefore focused on a broad definition of essential components as”

May combine two claims.

Long-term material value trends have changed and in fact reversed since around the year 2000, so that no long-term historical data can be counted upon during the financial evaluation.

“Also, several studies have shown that longterm material value trends have changed, and in fact reversed, since around the year 2000, so that no long-term historical data can be counted upon during the financial evaluation (Ellen MacArthur Foundation 2013).”

• cites Ellen MacArthur Foundation 2013Not matched

  Couldn’t be matched to a paper in Crossref, so it can’t be checked.

May combine two claims.

In states with a European systemic heritage, buildings are financed based on their value as a complete functional unit and can be used as collateral to guarantee a loan (mortgage-based financing).

“The fundamental philosophy in states with a European systemic heritage, which underlies building law since its roots in Roman jurisprudence, is that buildings are financed based on their value as a complete functional unit.As such, they can be used as collateral to guarantee a loan, in other words mortgagebased financing.”

Classified as probably not a substantial claim. May combine two claims.

In most buildings, the delivery of indoor comfort results from interaction between the building envelope and integrated decentralized systems and centralized building services, which could lead to an uncertain demarcation of performance responsibility between contractors or between owned and leased components.

“-Interaction between the façade system and centralized building services: in most buildings, the delivery of indoor comfort is the result of interaction between the building envelope and integrated decentralized systems and centralized building services (such as ventilation, lighting, heating and cooling).This division could lead to an uncertain demarcation of performance responsibility between”

May combine two claims.

The argument for concentrated ownership is based on the concept that the whole is more valuable than the sum of its parts, and that a real estate object is more likely to lose value or face transactional disputes if ownership of its essential components is divided among several legal entities with diverse or conflicting economic interests.

“The argument for concentrated ownership is therefore based on the concept that the whole is more valuable than the sum of its parts, and that a real estate object is more likely to lose value or face transactional disputes if ownership of its essential components is divided among several legal entities with diverse or even conflicting economic interests.”

Probably not a substantial claim: may not pass S2 (checkable).

As long as a clear physical distinction can be made between components owned by the landowner and those leased from a third party, a right of leasehold should be definable.

“As long as a clear physical distinction can be made between those buildings, systems, or components which are owned by the landowner, and those which are being leased from a third party, a right of leasehold should be definable.”

May combine two claims.

The loan must be fully repaid before major renovation reinvestments or End-of-Life processes are reasonably expected, which would lead to a change in the utility value of the building.

“The loan must thus be fully repaid before major renovation reinvestments or EoL processes are to be reasonably expected which would lead to a change in the utility value of the building.”

• AssumptionRests on an assumption: Lenders do not want to assume any risk over the maintenance of the building by its owner/manager, or over the building's End-of-Life scenarios.

Probably not a substantial claim: may not pass S3 (load-bearing). May combine two claims.

Documentation of the role of user behaviour on actual energy savings shows the potential disruptive effect of negative user behaviour on final energy performance, which could lead to conflict between provider and client regarding the reason for not achieving the expected energy performance.

“-User behaviour and user preference: documentation of the role of user behaviour on actual energy savings (i.e., after a deep building energy renovation), show the potential disruptive effect of negative user behaviour on final energy performance.This could lead to conflict between provider and client regarding the reason for not achieving the expected energy performance.”

May combine two claims.

In most cases the residual value of materials does not provide the building owner with an expected recoverable income at decommissioning; most frequently building owners must pay for demolition and removal of used or obsolete components, so removal costs remain a liability on the owner's balance sheet.

“In most cases, it does not even provide the building owner with an expected recoverable income at the time of decommissioning.In fact, most frequently, building owners will need to pay for the demolition and removal of used or obsolete components, so that the removal costs remain a liability which should be considered in the balance-sheet of the building owner.”