Fannie Mae’s Multifamily Green Financing is allowing developers and investors the opportunity to “enhance the financial performance, environmental sustainability, and quality of the country’s multifamily housing stock.” The latest trend in environmentally friendly and conscious living amongst a younger generation of consumers has brought forth the same trend in the commercial real estate world and financial institutions like Fannie Mae are acknowledging the trend and its benefits.
By providing financing, developers and investors are able to build multifamily properties that not only help improve the property’s bottom line with lower utility costs, but helps the communities and environments in which they are located in. Improving the quality and affordability of living in our current economy, allows tenants to live a eco-friendly life, conscious of their impact on the environment.
Fannie Mae’s latest transaction was a portfolio of 10 multifamily properties, hitting a huge milestone for Mae, allowing them to close their 500th green financing transaction. Since its inception, Fannie Mae’s Green Financing has helped save an incredible amount of energy, enough to power 31 million cell phones – the equivalent of 15.6 billion glasses of water every year.
It’s time for all developers and investors to start building properties that are eco-friendly because frankly, it’s what this younger and more environmentally conscious generation wants. Not only in what they eat or how they live their everyday lives, but in how and where they live as well. By incorporating energy-efficient lighting, refrigerators, low-flow faucets, shower heads, and toilets will allow tenants to save on average $95 each year on their utility bills. These types of upgrades will allow Fannie Mae’s latest transaction at Goldrich Kest to save a projected 16.6 million gallons of water and 9.2 million kBTU annually, imagine how much can be saved across all newly developed multifamily properties if they were to incorporate more greener options.
In order to qualify for a Fannie Mae Green loan a number of requirements must be met; first and foremost you have to be looking for financing for an apartment building or cooperative that are either targeting a 20% or greater reduction in energy or water consumption or have been awarded a green building certification.
Check out the Fannie Mae guide below to see if you qualify for a Fannie Mae Green Loan.
To learn more about Fannie Mae’s Multifamily Green Financing and to see if you qualify, check out http://www.multifamilyexecutive.com/design-development/green/fannie-mae-closes-its-500th-green-multifamily-financing-transaction-of-2017_o and https://www.fanniemae.com/multifamily/green-initiative
Dalesmy Gonzalez is a graduate of Western Washington University where she studied Business Administration with an emphasis in Marketing.
She specializes in optimizing digital marketing websites for commercial real estate brokers and connecting buyers, sellers, and investors across the US.