LENDERS AND GOVERNMENT PROGRAMS ARE INCENTIVIZING DEVELOPERS TO BUILD RESPONSIBLY
Portland, Ore. – As multifamily housing continues to be one of the fastest growing areas in commercial real estate, the Green Building Initiative’s (GBI’s) Green Globes® building certification sets itself apart as an ideal tool for building owners and developers seeking recognition for building responsibly. Green Globes provides adaptability and an optional expedited process making certification possible in as little as eight weeks. With a Green Globes certification, developers can pursue incentives like the Commercial Property-Assessed Clean Energy (C-PACE) program and Fannie Mae’s Multifamily Green Building Certification program to help fund their projects, making Green Globes more advantageous than ever.
C-PACE PROGRAM
C-PACE is a newer program designed for commercial property owners seeking to invest in long-term modifications contributing to a building’s resilience and reliability. It offers financing for energy efficiency improvements, renewable energy, or other sustainability enhancements with the loan being paid back over ten years via an assessment on the property’s tax bill.
MultiGreen Properties, a GBI member, recently broke ground on theAPEX @galleria multifamily project located in Henderson, Nevada which was partially funded with a C-PACE loan. “We’re thrilled to be working with GBI to deliver the first C-PACE-funded project in Henderson,” said Randy Norton, Founder and Chairman of the Board at MultiGreen. “Our mission is to develop Workforce Plus™ communities that are sustainable and focused on the health and well-being of our residents. GBI is an ideal partner, and Green Globes is a premier platform, and the building certifications validate our delivery of those objectives.”
C-PACE financing is limited to county or municipalities that have approved PACE-enabling legislation. Currently, it is available in 32 states and the District of Columbia.
FANNIE MAE MULTIFAMILY GREEN BUILDING CERTIFICATION OFFERING
Fannie Mae’s Multifamily Green Building Certification offering provides preferential pricing on mortgage loans secured for both newly constructed and retrofitted multifamily properties that have completed a Fannie Mae-recognized green building certification. The Green Globes Multifamily for New Constructionand the Green Globes Multifamily for Existing Buildings protocols ensure the projects achieve the better than 15% energy savings over a median property that the program requires.
GBI’s reputation as a leader in the multifamily space has been proven through the certification of approximately 154 million square feet (over 100,000 units) of multifamily space, including workforce and affordable housing. Additionally, Green Globes is recognized as a Tier 1 certification by GRESB, the global ESG benchmark for real assets, for both new construction and existing buildings, and the GBI team is available to provide expert support for portfolio owners seeking to report on their ESG initiatives.
GBI is pleased to offer education and support to interested architectural, engineering, and construction firms, sustainability consultants, and building owners pursuing Green Globes certification. Please contact info@thegbi.org to schedule a meeting or presentation.
MEDIA CONTACTS
Kate Callahan, Director, Client Services & Engagement, kate@thegbi.org, (971) 256-7168
David Thompson, Sr. Manager, Sustainable Asset Management, david@multi.green, (702) 990-3358