Enterprise Green Multifamily Retrofit Program
Why Retrofit Affordable Multifamily Properties?
Retrofitting existing housing stock results in improved cash flow for owners, healthier living environments for residents, higher quality assets for investors and job opportunities for the community.- Existing residential buildngs account for more than half of the built environment and 21% of all U.S. carbon emissions.
- Multifamily buildings house our nation’s poorest residents who bear double the energy burden.
- Energy reductions of only 20 percent in federally subsidized buildings could generate $1 billion in savings.
A Holistic Protocol
The cornerstone of the Green Multifamily Retrofit Program is the Enterprise Retrofit Protocol for a Green Capital Needs Assessment (GCNA). Much like the Enterprise Green Communities Criteria, the Protocol creates a national framework for delivering a holistic building assessment to inform subsequent financing of the possible retrofit improvements and can be used by:- Lenders to provide a reliable way to underwrite green retrofit loans
- Building owners to assess how to improve energy and water efficiency while reducing operating costs. See a sample green capital needs assessment.
- Regulators and tax credit allocators to assess and fund Green measures in the context of overall asset health
Comprehensive Retrofits
Enterprise coordinates, packages and delivers targeted technical assistance and capital resources that leverage larger flows of public, private and philanthropic capital. Our approach includes:- A whole-building analysis that follows the Enterprise Green Retrofit Audit Protocol
- Energy and water use data collection, which benchmarks utility performance
- Financing to determine whether a property is eligible for refinancing or an add-on loan to cover costs of the improvements
- Assistance with assembling subsidy sources, such as weatherization funds and utility-based rebates and incentives
- Verification and monitoring to track utility consumption data over time
- Training and education modules for property maintenance staff and residents
Coming Soon! Green Multifamily Retrofit Toolkit
The Green Multifamily Retrofit Toolkit will provide a framework for retrofitting affordable multifamily properties.
For more information, contact Esther Toporovsky at 212.284.7104.