{"id":421481,"date":"2023-12-21T15:54:25","date_gmt":"2023-12-21T20:54:25","guid":{"rendered":"https:\/\/www.housingwire.com\/?p=421481"},"modified":"2023-12-21T16:58:24","modified_gmt":"2023-12-21T21:58:24","slug":"hud-to-invest-174-million-for-climate-resiliency-in-multifamily","status":"publish","type":"post","link":"https:\/\/www.housingwire.com\/articles\/hud-to-invest-174-million-for-climate-resiliency-in-multifamily\/","title":{"rendered":"HUD to invest $174 million for climate resiliency in multifamily"},"content":{"rendered":"\n

The U.S. Department of Housing and Urban Development<\/strong><\/a> (HUD) on Thursday announced an investment of $173.9 million in loans and grants under the Green and Resilient Retrofit Program\u2019s (GRRP) \u201ccomprehensive\u201d and \u201celements\u201d categories, designed to increase resilience against climate challenges and energy efficiency.<\/p>\n\n\n\n

These awards will \u201csupport energy efficiency, electrification, clean energy, low embodied carbon materials, and climate resilience improvements in 30 HUD-assisted multifamily properties,\u201d HUD said, which includes 3,070 rental homes designed to serve low-income individuals and families.<\/p>\n\n\n\n

The investment supports the Biden administration<\/a>\u2019s agenda to \u201cinvest in America,\u201d and what it calls its \u201cenvironmental justice agenda.\u201d<\/p>\n\n\n\n

\u201cGRRP grant and loan funding announced today will improve the quality of life for residents by expanding energy efficiency, reducing climate pollution, generating renewable energy, promoting the use of green building materials, improving indoor air quality, and enhancing climate resilience,\u201d HUD said in a statement.<\/p>\n\n\n\n

The first set of awards announced today fall under the GRRP\u2019s \u201ccomprehensive\u201d category, which provides funding to properties identified to have the highest need for \u201cclimate resilience and energy efficiency upgrades.\u201d<\/p>\n\n\n\n

All owners of eligible HUD-assisted properties are eligible for these awards, which do not require any previous green building experience since they offer a HUD-provided contractor to complete the work.<\/p>\n\n\n\n

19 properties will receive awards under the comprehensive category, with five of them having fewer than 50 units. Seven have between 50 and 100 units, all designed to serve low-income residents. Roughly half will go to properties exclusively serving older residents.<\/p>\n\n\n\n

\u201cSixteen of the properties face notable risk from climate and natural hazards such as flooding, heat waves, earthquakes, tornados, lightning, hail, severe winter weather and ice storms,\u201d HUD said.<\/p>\n\n\n\n

The GRRP\u2019s \u201celements\u201d category includes eleven properties, and \u201cfunding for property owners to include climate resilience and energy and water efficiency improvements as part of a development or rehabilitation transaction that was already underway,\u201d HUD explained.<\/p>\n\n\n\n

Climate challenges have been in news headlines<\/a> at an accelerating rate, displacing many Americans from their homes. These investments can help further the resilience of HUD-assisted properties against these challenges, according to Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon<\/a>.<\/p>\n\n\n\n

\u201cAs we look back on the climate- and weather-related disasters of the past few years, we see vividly how vital this funding is to ensure the long-term safety and viability of households and communities,\u201d Gordon said. \u201cAwards through the GRRP program illustrate the immediate and concrete steps that the Biden-Harris administration is taking to protect the nation\u2019s low-income residents<\/a> and the environment.\u201d<\/p>\n\n\n\n

A full list of the properties benefitting from these awards is available on HUD\u2019s website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

HUD’s investments into climate resiliency and energy efficiency are designed to bolster the defenses of multifamily properties.<\/p>\n","protected":false},"author":7007,"featured_media":335122,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201240,12129],"tags":[2683,3560,1788],"coauthors":[239905],"acf":[],"yoast_head":"\nHUD to invest $174 million for climate resiliency in multifamily - HousingWire<\/title>\n<meta name=\"description\" content=\"HUD's investments into climate resiliency and energy efficiency are designed to bolster the defenses of multifamily properties.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.housingwire.com\/articles\/hud-to-invest-174-million-for-climate-resiliency-in-multifamily\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HUD to invest $174 million for climate resiliency in multifamily - 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