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 | Mar 29, 2022
Here’s why the U.S. needs more ‘TOD’ housing
Transit-oriented developments help address the housing affordability issue that many cities and suburbs are facing.
Multifamily Housing | Mar 28, 2022
Singapore’s new Irwell Hill residences will be built around heritage rain trees
The recently unveiled design of Irwell Hill, twin 36-story residence towers, calls for the development to be situated among copious greenery including preserved heritage rain trees.
Codes and Standards | Mar 23, 2022
High office vacancies have cities rethinking downtown zoning
As record-high office vacancies persist in U.S. urban areas, cities are rethinking zoning policy.
Multifamily Housing | Mar 23, 2022
Cadence McShane's Broadway Chapter Apartments earns 2022 TEXO Distinguished Building Award
Cadence McShane Construction Company received first place in the 2022 TEXO Distinguished Building Award in the General Contractor – Residential Multifamily 1 ($0 - $150M) category for the Broadway Chapter Apartments project.
Projects | Mar 22, 2022
Fast-growing Austin adds a $3 billion community
The nation’s fastest-growing large metro area is getting even bigger, with the addition of a $3 billion, 66-acre community.
Projects | Mar 22, 2022
Austin multifamily project to feature 60 micro-housing apartments
A new 34,364 sf multifamily project, Sixth and Chicon, in Austin, Texas, will feature 60 micro-housing apartments designed for “the urban minimalist.”
Projects | Mar 18, 2022
Former department store transformed into 1 million sf mixed-use complex
Sibley Square, a giant mixed-use complex project that transformed a nearly derelict former department store was recently completed in Rochester, N.Y.
Multifamily Housing | Mar 15, 2022
Multifamily rents climbed 15.4 percent in one year
Multifamily asking rents picked up another $10 in February to reach a national average $1,628, and year-over-year growth recorded a 15.4 percent bump, according to the new Yardi Matrix Multifamily National Report.
Multifamily Housing | Mar 15, 2022
A 42-story tower envelops residents in Vancouver’s natural beauty
The city of Vancouver is world-renowned for the stunning nature that surrounds it: water, beaches, mountains. A 42-story tower, Fifteen Fifteen, will envelop residents in that natural beauty.
Multifamily Housing | Mar 15, 2022
Hermosa Village earns 2021 NAHB Best in American Living Award
Cadence McShane Construction Company received first place in this year's NAHB Best in American Living Award for its Hermosa Village project.