When a multi-family housing uses less water and energy the net operating costs are lower and costs for tenants is lower. The Multi-Family Green Initiative enhances environmental sustainability, affordability and quality of Multi-Family housing and Senior Communities.
Energy Efficient Upgrades Reduce Financial Risk
“Now, a partnership between Fannie Mae and the EPA lets multifamily property owners use the ENERGY STAR Score for multifamily to measure current energy performance and to quantify the value of energy and water efficiency upgrades. By using the ENERGY STAR Score and making energy and water efficiency upgrades, owners can reduce their financial risk, raise the quality of their property while improving the property’s comfort and affordability for tenants,” according to Energy Manager Today.
What is a 1 – 100 ENERGY STAR® Score?
“The 1 – 100 ENERGY STAR score for multifamily properties makes it easy to understand a property’s energy performance compared to its peers and to better assess the relative risk of each property. Properties receive a score on a scale of 1 to 100, which accounts for the property’s energy use across fuel types and normalizes for weather, building characteristics, and business activity. This score represents the property’s percentile ranking compared with similar properties. For example, a property with a score of 25 performs better than only 25% of other similar buildings, but a property with a score of 75 performs better than 75% of its peers. In addition, properties with scores of 75 or higher are eligible to earn the ENERGY STAR certification, which is America’s symbol of top energy performance,” according to FannieMae
Lower Interest Rates
“Financing for construction projects is becoming more available, reflecting some easing of bank lending standards, a greater focus on real estate development by the investment community and more construction bond measures getting passed,” said Robert Murray, chief economist and vice president with Dodge Data & Analytics. “Interest rates for the near term should stay low.”
We encourage you to contact SWET Construction Group to discuss your building project. Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project.