Philadelphia to Require Larger Apartment Buildings to Track Energy Usage

A Philadelphia law that requires that owners of large office buildings keep track of energy usage through energy benchmarking using Portfolio Manager is being expanded to include larger apartment buildings. Owners whose buildings fall under the law’s scope face fines if they don’t comply. Read the full article here. Read more

Strategies for owners and managers of multifamily apartment complexes to stop the energy waste through elevator shafts

A new report from the non profit organization Urban Green Council of New York City outlines strategies that owners and managers of multifamily apartment complexes can use to retrofit elevator shafts and stop the energy waste through the roof of their buildings. A report prepared for NYSERDA, notes that the average New York apartment building owner spends $3,400 per year to heat air that will escape through the roof, while taller buildings can waste over $20,000. Access the report Spending Through the Roof. Read more

First Fannie Mae Multifamily Property Improvements to Reduce Energy Loan Closes

The first Fannie Mae M-PIRE (Multifamily Property improvements to Reduce Energy) loan closed for a Bronx rental building. The Fannie Mae M-PIRE mortgage product is available to affordable and market rate co-opand conventional rental housing owners in the five boroughs of New York City. Read full article Read more

HUD Announces RAD Fast Track Program

The Department of Housing and Urban Development (HUD) is implementing a new Fast Track component to its Rental Assistance Demonstration program (better known by its catchy acronym: RAD), which provides access to viable financing tools for at risk public and assisted housing. RAD Fast Track aims to address the overwhelming popularity of the RAD program by streamlining the process. HUD estimates that roughly 10,000 public housing units are lost to deterioration annually, while the need for affordable housing for low-income renters continues ... Read more
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