Real estate financing agency Freddie Mac expanded its efforts to foster the greening up of old buildings with its new Multifamily Green Advantage suite of offerings.
The new programs are available with most Freddie Mac multifamily loan products. Borrowers can choose either Green Up or Green Up Plus to get better pricing and increase their Freddie Mac loan amounts to finance energy and water efficiency improvements.
Green Up enables borrowers with qualifying properties to increase the amount of their eligible loan by up to 50% of projected energy and water savings. Green Up Plus increases the loan up to 75%, but this option requires a more detailed analysis, based on an ASHRAE Level 2 assessment.
Freddie Mac projects that about 200 properties per year across the U.S. will be able to go under Green Up or Green Up Plus. “We’re really targeting workforce housing—ideally, assets that are 20 years older or older and may not have had improvements over the past 20 years,” said a Freddie Mac executive.
Related Stories
Codes and Standards | Jan 16, 2017
Building codes for existing buildings evaluated in new white paper
The paper examines implementation, enforcement challenges, and changes needed in new code editions.
Codes and Standards | Jan 13, 2017
New BIM guide for owners released
National Institute of Building Sciences releases a manual for developing standard set of BIM documents.
Codes and Standards | Jan 11, 2017
OSHA prompts more proactive approach to construction site safety
Remote operated camera systems are being used to mitigate risk in real time.
Codes and Standards | Jan 10, 2017
Plunging solar power costs making PVs more compelling for owners, developers
Technical and manufacturing advances are driving down prices.
Codes and Standards | Jan 9, 2017
Boston’s plans for new development at odds with flood projections
One plan calls for building in areas predicted to be flooded during high tides as sea levels rise.
Codes and Standards | Jan 9, 2017
New LEED for Cities, LEED for Communities pilot certifications unveiled
Requires tracking of performance data and progress toward goals.
Codes and Standards | Jan 9, 2017
China claims top ranking outside of U.S. for total LEED-certified space
Canada, India, Brazil, and Korea round out top 5.
Codes and Standards | Jan 6, 2017
OSHA prompts more proactive approach to construction site safety
Remote operated camera systems are being used to mitigate risk in real time.
Codes and Standards | Jan 5, 2017
2018 building energy code upholds efficiency gains
Efforts to scale back efficiency requirements largely defeated.
Codes and Standards | Jan 4, 2017
Low-income housing doesn’t lower neighborhood housing values
A Trulia study contradicts longstanding fears.
