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
| Jul 5, 2012
New Joplin, Mo. hospital being built to withstand tornado that destroyed predecessor
After the May 22, 2011, EF-5 tornado destroyed St. John’s Regional Medical Center in Joplin, Mo., architects and engineers analyzed how the nine-story structure reacted to the storm.
| Jul 5, 2012
Continued tax breaks necessary for widespread adoption of net zero buildings
Tax breaks passed by the U.S. government to encourage construction of green buildings are set to expire in 2012 and 2013.
| Jun 28, 2012
Six buildings now recognized under Living Building Challenge
The Living Building Challenge (LBC), a green ratings system for design and construction that judges a building based on its actual performance, not just its projected performance at the design stage, has recognized six buildings to date.
| Jun 28, 2012
Label for building products will have ‘global warming number’
The director of the 2030 Challenge for Products says that the organization is aiming to place a label on building products that will list what’s in it, and how much embodied carbon each product represents.
| Jun 28, 2012
Top building material executive urges building resilience in sustainability standards
A meeting of 1,000 business executives at the recent Rio+20 environmental conference featured a passionate plea to include building resilience in efforts to boost sustainability.
| Jun 28, 2012
Following spate of skyscraper balcony glass panel breakages, Ontario adopts code change
Ontario's housing minister announced new building code rules to help prevent glass panels from breaking off high-rise balconies during hot weather.
| Jun 28, 2012
Factory worker deaths in Italy raise questions on building codes after earthquakes
Italian officials are questioning seismic building standards and inspection procedures in the aftermath of two damaging earthquakes.
| Jun 21, 2012
Brazilian engineering/construction firm Odebrecht sues Florida over ban on companies doing business in Cuba
Odebrecht Construction Inc., a Brazilian engineering and construction company, is suing the State of Florida over a new law that bans governments from hiring companies with business ties to Cuba.
