Low-Cost Financing Enables Affordable Housing Retrofits

Summary

"New York City’s Green Hous­ing Pre­ser­va­tion Pro­gram (GHPP) aims to re­duce hous­ing costs and green­house gas emis­sions in the city’s af­ford­able hous­ing sec­tor by eas­ing bar­ri­ers to un­der­take en­ergy ef­fi­ciency and wa­ter con­ser­va­tion im­prove­ments. Un­der the pro­gram, prop­erty own­ers, who of­ten per­ceive hous­ing im­prove­ments as out of reach, gain ac­cess to en­ergy audit in­form­a­tion and low- or no-cost fin­an­cing for key ret­ro­fit meas­ures. With im­prove­ments such as the in­stall­a­tion of ef­fi­ciency con­trols, it is an­ti­cip­ated that own­ers may see more than a 10% an­nual re­duc­tion in util­ity costs, which ac­count for roughly 25% of the av­er­age op­er­at­ing budget of a rent sta­bil­ized build­ing.

GHPP has the po­ten­tial to im­pact a large num­ber of own­ers and ten­ants in the city, as al­most two-thirds of New York’s rental apart­ment build­ings are eli­gible for the pro­gram."

Quote from: http://solutions.sustainia.me/solutions/low-cost-financing-enables-affordable-housing-retrofits/