The least energy efficient multifamily property may be spending $165,000 more in annual energy costs than a similar property operating the most efficiently, according to a new white paper released by Fannie Mae.
"Transforming Multifamily Housing: Fannie Mae's Green Initiative and Energy Star for Multifamily" provides insight into Fannie Mae’s Green Initiative, its partnership with the U.S. Environmental Protection Agency (EPA), and its effort to compile comprehensive multifamily energy and water data providing the basis for the EPA's Energy Star Score for multifamily structures.
Fannie Mae will continue to lead efforts to support green activities and provide greater transparency for investors by disclosing Multifamily Energy Metrics on Fannie Mae MBS. In June 2014, Fannie Mae collected the Source Energy Use Intensity (EUI), an energy performance metric, for properties securing multifamily loans in cities with Energy Star reporting requirements.
Beginning in 2015, Fannie Mae will collect the Source EUI and the Energy Star score for the associated properties and will disclose the EUI metrics. Investors will be able to view the metrics for properties located in Boston; Cambridge, Massachusetts; Chicago; New York; Seattle; and Washington, DC. This information will give investors greater insight into the energy consumption of multifamily properties and the financial performance of the associated loans.
(http://www.fanniemae.com/portal/about-us/media/commentary/091114-pagitsas.html)
Related Stories
| Apr 23, 2014
California bill would make employers responsible for subcontractors' wages, workers' comp
Under the recently revised Assembly Bill 1897, employers would have to pay wages, taxes, and workers compensation on behalf of a subcontractor’s workers if the subcontractor reneges on that responsibility.
| Apr 23, 2014
Obama’s 2015 budget includes $1.7 billion to GSA for building construction, renovations
The Obama Administration has proposed $1.7 billion for construction, renovation, and repairs to federal buildings in fiscal year 2015 under the auspices of the U.S. General Services Administration.
| Apr 18, 2014
Massachusetts Supreme Court clarifies building code liability issue on mixed-use projects
The Massachusetts Supreme Judicial Court recently ruled that distinct portions of a mixed-used building may be treated as distinct and different structures under the state building code.
| Apr 18, 2014
First international buildings among 700-plus certified by BOMA 360 Performance Program
In the first quarter of 2014, the Building Owners and Managers Association (BOMA) International certified 66 properties in the BOMA 360 Performance Program for commercial real estate markets across the U.S and, for the first time, abroad.
| Apr 16, 2014
OSHA proposes $2.3 million in fines against Olivet Management for exposing workers to asbestos and lead
Olivet Management LLC, a real estate development and management company, faces $2.3 million in proposed fines from the Occupational Safety and Health Administration.
| Apr 10, 2014
Green Building Certification Institute partners with Well Building Institute on standard
The Green Building Certification Institute (GBCI), which administers third-party certification for the LEED standard, and the Well Building Institute will collaborate to promote the WELL Building Standard.
| Apr 10, 2014
OSHA’s construction safety advisory committee invites input on construction regulations
The Occupational Safety and Health Administration will hold a meeting of the Advisory Committee on Construction Safety and Health May 7-8, 2014, in Washington, D.C.
| Apr 10, 2014
ASTM’s International Standards in Building Codes now available in DVD and online
The compilation ASTM Standards in Building Codes contains more than 1,300 ASTM construction specifications, practices and test methods, and is now available in DVD and online.
| Apr 10, 2014
New California energy code requires building systems to be ready for demand response energy management
Starting in June, California’s latest version of its Title 24 building code kicks in, requiring several systems come with demand response capability.
| Apr 4, 2014
Green Building Initiative moves to include locally sourced materials in Green Globes
The Green Building Initiative group based in Portland, Ore., met with the Department of Agriculture on a plan to include locally sourced materials in its green building standards.