Real estate financing agency Freddie Mac expanded its efforts to foster the greening up of old buildings with its new Multifamily Green Advantage suite of offerings.
The new programs are available with most Freddie Mac multifamily loan products. Borrowers can choose either Green Up or Green Up Plus to get better pricing and increase their Freddie Mac loan amounts to finance energy and water efficiency improvements.
Green Up enables borrowers with qualifying properties to increase the amount of their eligible loan by up to 50% of projected energy and water savings. Green Up Plus increases the loan up to 75%, but this option requires a more detailed analysis, based on an ASHRAE Level 2 assessment.
Freddie Mac projects that about 200 properties per year across the U.S. will be able to go under Green Up or Green Up Plus. “We’re really targeting workforce housing—ideally, assets that are 20 years older or older and may not have had improvements over the past 20 years,” said a Freddie Mac executive.
Related Stories
Codes and Standards | May 24, 2016
Ontario planning to spend $7 billion on wide-ranging climate change plan
Includes financial incentives to retrofit buildings.
Codes and Standards | May 23, 2016
Facility managers say Internet of Things, analytics will impact maintenance soon
More reliable data needed for optimal results from the technology.
Codes and Standards | May 20, 2016
Industry leaders call for wider use of bamboo as a building material
Benefits include seismic resiliency and sustainability.
Codes and Standards | May 19, 2016
Asphalt roofing group publishes updated shingle installation guide
Technical manual provides best practices for roofing professionals.
Codes and Standards | May 16, 2016
EPA proposes new stormwater discharge regulations for construction sites
Would apply to sites of one or more acres.
Roofing | May 16, 2016
New guide focused on increasing energy and structural performance with raised-heel trusses
Higher trusses simplify attic ventilation, leave more space for insulation.
Codes and Standards | May 11, 2016
Current California seismic codes provide safety, resiliency, but needed upgrades present challenge
Los Angeles requires seismic retrofits, but other cities do not.
Codes and Standards | May 10, 2016
Apple spars with Cupertino, Calif., mayor over strained city infrastructure
Apple’s new ‘spaceship’ campus project prompts questions about whether the company should pay more to offset traffic woes.
Codes and Standards | May 9, 2016
Safety Stand-Down yields proposals to boost construction safety
One example: Gilbane encourages safety harnesses for all working above 6 feet.
Codes and Standards | May 9, 2016
EcoDistricts unveils sustainable neighborhood framework
Focus is on equity, resilience, and climate protection.
