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 | Sep 21, 2016
Healthy buildings becoming a key design priority for both architects and building owners
Nationwide survey finds nearly three of four architects cite health impacts influencing design decisions
Data Centers | Sep 19, 2016
New ANSI/ASHRAE data center standard is performance-based, more flexible
The aim of the standard was to ‘not stifle innovation.’
Codes and Standards | Sep 16, 2016
Calm weather tidal flooding impacting several communities on East and Gulf Coasts
Local officials face the prospect of costly mitigation projects.
Codes and Standards | Sep 15, 2016
OSHA appoints new director for its construction directorate
The forty-year industry veteran has been a GC and business owner.
Energy | Sep 13, 2016
Oberlin College to hold conference on post-fossil fuel economy
The gathering will address climate change and new sources of energy.
Industry Research | Sep 12, 2016
Evidence linking classroom design to improved learning mounts
A study finds the impact can be as much as 25% per year.
Legislation | Sep 8, 2016
Half of U.S. states now allow design-build on public projects
Missouri is the latest to enact design-build legislation.
Codes and Standards | Sep 8, 2016
Vapor intrusion risk addressed in new ASTM guide update
The updates address industry confusion over how to handle the issue.
BIM and Information Technology | Sep 7, 2016
Energy Star Portfolio Manager tool updated to factor in waste management
The costs and benefits of managing 29 types of waste are now included.
Wood | Sep 6, 2016
Atlanta suburb prohibits wood-framed construction for high rises
The new building code prevents any structure with more than three stories from being built from a CLT frame.
