Freddie Mac Announces Multifamily Green Building Financing Initiative
Freddie Mac announced earlier this month their Multifamily Green Advantage program, a suite of offerings rewarding borrowers who improve their properties to save energy and water with discounted loan pricing.
Tipping the scales for financing upgrades to multifamily housing toward sustainability, this new program from Freddie Mac has the potential to unleash large amounts of capital for green building improvements. This is very good news for green building.
Property owners who commit to reduce energy and water consumption by at least 15 percent can choose Green Up or Green Up Plus. In order to be eligible for better pricing, borrowers will need to complete a Green Assessment (a property analysis to identify energy and water savings opportunities). Properties that complete a Green Assessment are also eligible for 50–75 percent underwriting of projected energy savings.
Nova can work with you to complete the Green Assessment.
Vice President, Nova Energy Group
Phone: 207-939-4983 | Email: Keely.Felton@novagroupgbc.com