Multifamily green financing programs boomed in 2016, and are likely to continue to grow in 2017, according to the president of Partner Energy.
HUD, Fannie Mae, and Freddie Mac updated existing programs and/or introduced new programs with more attractive features during 2016. The result: Over $3.2 billion in green loans were funded by Freddie and Fannie—far more than in previous years.
Some of the programs allow borrowers to take credit for already being green or for committing to be green such as pursuing a green certification or reducing energy and/or water consumption. Specific measures are identified through an energy audit that provides a guide to achieve goals in a cost-effective manner.
Several programs offer 10-40 basis point reduction in lending rates in return for meeting sustainability targets. These programs are expected to accelerate in 2017.
Related Stories
Multifamily Housing | Aug 4, 2022
Faculty housing: A powerful recruitment tool for universities
Recruitment is a growing issue for employers located in areas with a diminishing inventory of affordable housing.
Multifamily Housing | Aug 3, 2022
7 tips for designing fitness studios in multifamily housing developments
Cortland’s Karl Smith, aka “Dr Fitness,” offers advice on how to design and operate new and renovated gyms in apartment communities.
Multifamily Housing | Aug 3, 2022
NEW DEADLINE for Senior Living and Student Housing projects for "MULTIFAMILY Design+Construction" Fall issue
Fall 2022 issue of MULTIFAMILY Design+Construction will have reports on Senior Living and Student Housing.
Multifamily Housing | Jul 28, 2022
GM working to make EV charging accessible to multifamily residents
General Motors, envisioning a future where electric vehicles will be commonplace, is working to boost charging infrastructure for those who live in multifamily residences.
Multifamily Housing | Jul 26, 2022
All-electric buildings – great! But where's all that energy going to be stored?
There's a call for all-electric buildings, but can we generate and store enough electricity to meet that need?
Green | Jul 26, 2022
Climate tech startup BlocPower looks to electrify, decarbonize the nation's buildings
The New York-based climate technology company electrifies and decarbonizes buildings—more than 1,200 of them so far.
Sponsored | Multifamily Housing | Jul 19, 2022
Engineering Solutions for a More Inclusive Community
Affordable housing complex uses engineered wood to keep construction costs low, tackle a public predicament and give rise to a stronger, more inclusive community.
Multifamily Housing | Jul 14, 2022
Multifamily rents rise again in June, Yardi Matrix reports
Average U.S. multifamily rents rose another $19 in June to edge over $1,700 for the first time ever, according to the latest Yardi® Matrix Multifamily Report.
Building Team | Jul 7, 2022
Amenity-rich rental property in Chicago includes seven-story atrium with vertical landscaping
The recently opened 198-unit Optima Lakeview luxury rental apartment building in Chicago is bursting with amenities such as the region’s first year-round rooftop pool, contact-free in-home package delivery, housekeeping services, on-site room service, fitness programming, and a virtual personal assistant.
Multifamily Housing | Jul 6, 2022
The power of contextual housing development
Creating urban villages and vibrant communities starts with a better understanding of place, writes LPA's Matthew Porreca.