Newly closed Green and Resilient Retrofit Program transactions will fund crucial repairs and energy efficiency and climate resilience improvements.
Today, the U.S. Department of Housing and Urban Development (HUD) announced the recent closing of three Green and Resilient Retrofit Program (GRRP) transactions to help finance energy efficiency and climate resilience improvements for affordable rental homes – $5.5 million for Greenspire Apartments in Stoughton, Wisconsin, $314,268 for Foxwell Memorial Apartments in Baltimore, Maryland, and $750,000 for Concord and Royal Gardens in Concord, New Hampshire. Today’s announcements underscore the Biden-Harris Administration’s commitment to ensuring the benefits of America’s clean energy transition reach all Americans and upgrades and improvements are made that will preserve affordable housing. All three properties participate in HUD’s Section 8 project-based rental assistance program for low-income individuals and families.
“Through the Inflation Reduction Act and the ongoing support of President Biden and Vice President Harris, HUD continues to deliver funding to modernize HUD-assisted housing and ensure these homes are resilient,” said HUD Agency Head Adrianne Todman. “Today’s announcement means families in Stoughton, Baltimore, and Concord will benefit from energy efficiency upgrades like a new solar energy system and HVAC replacements.”
Greenspire Apartments in Stoughton, Wisconsin is an affordable housing property serving 92 low-income families. The owner of Greenspire Apartments, Greenspire LIHTC Apartments, LLC, will use HUD’s GRRP funding to obtain the International Living Future Institute (ILFI) Zero Energy Certification. To achieve this certification, the project will install super-insulation of the building envelope to reduce energy needs, will electrify the building systems using ground source heat pumps and other measures, and will meet its energy needs by installing a 216kW solar array with backup battery storage.
Foxwell Memorial Apartments in Baltimore, Maryland is an affordable housing property serving 154 low-income individuals and families. The owner of Foxwell Memorial Apartments, Homes for Greenspring II LP, will use HUD’s GRRP funding to install a solar photovoltaic system aimed at enhancing energy conservation at the property.
Concord and Royal Gardens in Concord, New Hampshire is an affordable housing property serving 150 low-income families. The owner of Concord and Royal Gardens, Concord Royal Gardens LP, will use HUD’s GRRP funding to install a rooftop solar array system capable of offsetting nearly 100 percent of all electricity use across the property.
“We are pleased to complete this Green and Resilient Retrofit Program funding transaction with the owners of these three properties to help support the energy efficiency and climate resilience for the homes of low-income families in Wisconsin, Maryland, and New Hampshire,” said Ethan Handelman, Deputy Assistant Secretary for Multifamily Housing Programs. “Funding this work to boost solar energy and improve HVAC is exactly what the Inflation Reduction Act and its $1 billion in funding for GRRP was intended to do.”
About GRRP
Funded under the Inflation Reduction Act, GRRP provides funding for direct loans and grants to make improvements to HUD-subsidized properties serving very low-income families, seniors, and persons with disabilities. Properties were selected through three distinct funding opportunities designed to meet the diverse needs of properties across the country. Funding can be used to improve energy or water efficiency, enhance indoor air quality, install zero-emission electricity generation and energy storage equipment, acquire low-emission building materials, implement building electrification strategies, or address and improve climate resilience. The program seeks to amplify recent technological advancements in energy and water efficiency and to bring a new focus on preparing for climate hazards by reducing residents’ and properties’ exposure to hazards and by protecting life, livability, and property when disaster strikes.
More program information is available on the GRRP Website.