The year 2016 saw an unprecedented boom in multifamily green financing programs. While the GSEs have been committed to sustainability initiatives for many years, this year was different. HUD, Fannie Mae, and Freddie Mac all updated existing programs and/or introduced new programs that were significantly more attractive for everyone than previous iterations. The result? From 0 to 60 in a matter of months. As of late 2016, over $3.2 billion in green loans were funded by Freddie and Fannie—an unprecedented amount.
What exactly made these green finance programs so attractive?
For one, flexibility. There are a lot of ways to get to the pot of gold. (And yes there is a pot of gold; I’ll get to that next.) Both Freddie’s and Fannie’s programs allow borrowers to take credit for already being green (projects that possess a green certification), or for committing to be green (pursue a green certification, or reduce energy and/or water consumption). Those reduction measures are identified through an energy audit, which provides a roadmap to achieve goals that are most cost-effective.
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November 07, 2024
Partner Engineering and Science, Inc., ranked on ENR's Top 200 Environmental Firms List for 12th consecutive year. "We are proud to be selected for the 12th year in a row for ENR's Top 200 Environmental Firms," says Chief Operating Officer Monique Burrola.
October 29, 2024
What drives developers and investors to engage in affordable housing preservation and development? In 2025 and beyond, new developments will need to focus on implementing emerging technology and design approaches, allowing for efficiency and scale, while also mitigating climate risks.
November 07, 2024
ASTM has published a guide for Property Resilience Assessment, ASTM E3429-24 Standard Guide for Property Resilience Assessments. The guide provides a framework to promote focused and meaningful investigation of properties but does not establish strict parameters for property resilience assessments. Partner’s resilience experts are here to help clients navigate the new ASTM guide and mitigate physical risks to their properties.
