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 | Oct 19, 2017
Enlightened conversion: A church becomes condos in D.C.
Once there were 857 churches in the District of Columbia. Now there are 856. One of them became an award-winning condominium complex.
University Buildings | Oct 13, 2017
The University of Oklahoma receives its first residential colleges
The residential communities were designed by KWK Architects and combine living and learning amenities.
Multifamily Housing | Oct 11, 2017
A 267-unit multifamily community is under construction in Summerville, S.C.
Summer Wind will be about half an hour outside of Charleston, S.C., in the rapidly expanding Summerville submarket.
Multifamily Housing | Oct 9, 2017
6 new products for the multifamily construction market
Bamboo wall panels, an adaptable prep sink, and a two-tiered bike parking system are among the product innovations geared for multifamily buildings.
Multifamily Housing | Sep 27, 2017
Pickleball, anyone?
Two-and-a-half million Americans are playing the game with the funny name.
Mixed-Use | Sep 25, 2017
One of L.A.’s most sought-after neighborhoods receives a new mixed-use development
The new development will feature 166 units and 9,000 sf of ground-floor retail.
Mixed-Use | Sep 21, 2017
Entire living rooms become balconies in a new Lower East Side mixed-used development
NanaWall panels add a unique dimension to condos at 60 Orchard Street in New York City.
Giants 400 | Sep 20, 2017
Bubble? What bubble?: Apartment and condo construction simply can't keep up with demand
Since the current multifamily boom took off in 2010, most activity has focused on large urban areas.
Multifamily Housing | Sep 20, 2017
New housing development rises from a historic textile mill’s ashes
Loft Five50 will add 137 housing units to Lawrence, Mass.
Multifamily Housing | Sep 19, 2017
Top 90 multifamily construction firms
Lendlease, Suffolk Construction, and Clark Group top BD+C’s ranking of the nation’s largest multifamily sector contractor and construction management firms, as reported in the 2017 Giants 300 Report.
