California’s recently announced ban on the sale of new gas-powered vehicles starting in 2035—and New York’s recent decision to follow suit—are putting pressure on multifamily property owners to install charging stations for tenants.
Owners have numerous business models and potential partners that offer multiple types of incentives, making the formation of a strategy a complex undertaking. They must consider the costs for chargers and the potential need to install additional electrical capacity costing up to six figures per apartment building.
One option is to outsource chargers to third-party vendors, but vendors may be cool to the idea because of the current lack of a critical mass of users. Even if this option is available to them, owners could still be on the hook for installing electric infrastructure to support charging stations.
Some programs have been created to address that need. Southern California Edison, for example, earmarked $436 million to install 35,000 charge ports. The program focused on disadvantaged communities with 30% of funds dedicated for multifamily homes.
While that program has proven to be popular, attracting twice as many applicants as it can serve, the utility expects to run out of these funds by the end of the year. It’s important that landlords find solutions to the charger challenge soon, with demand from renters predicted to grow significantly in coming years as declining sticker prices of some EV models make them more attractive to a wider swath of the population.
Related Stories
Multifamily Housing | Jun 17, 2019
Boston multifamily development combines a historic warehouse with a new, modern addition
The Architectural Team designed the project.
Multifamily Housing | Jun 4, 2019
New Silver Spring apartment community includes over 5,000 sf of amenity space
Design Collective is the project’s architect.
Multifamily Housing | Jun 3, 2019
11 trends in senior living
Style, flexibility, and fun highlight the latest design trends for the 55+ market.
Multifamily Housing | May 29, 2019
Grilled to order: The art of outdoor kitchens
Seven tips for ensuring outdoor kitchens deliver safe, memorable experiences for residents and guests.
Multifamily Housing | May 17, 2019
At last, downtown Dallas tower to get $450 million redo
The landmark tower has been vacant for a decade.
Multifamily Housing | May 8, 2019
Multifamily visionary: AvalonBay’s relentless attention to detail
The nation's fourth-largest owner of apartments holds more than 85,000 apartments in 291 communities.
| Apr 28, 2019
New York Is NOT Most Expensive City for Apartment Sales Transactions
Data from Marcus & Millichap 2019 U.S. Multifamily Investment Forecast on Average Price/Dwelling Unit in apartment transactions.
Multifamily Housing | Apr 27, 2019
5 noteworthy multifamily developments
Special-needs housing in West Hollywood, Calif., and a warehouse-turned-apartments in the Twin Cities are among the notable multifamily projects to open recently.
| Apr 26, 2019
Organized Living Offers ‘Century Gray’ Product Finish for Multifamily Storage Systems
Organized Living releases new color option for apartment and condominium storage systems.
