Two POAH properties among 12 affordable housing developments to receive HUD funding to support energy efficiency and climate resilience
CINCINNATI, OH – RealEstateRama – Two POAH properties – one in Liberty, MO and one in Cincinnati, OH are recipients of Green and Resilient Retrofit Program (GRRP) grants of over $2 million each to support energy efficiency and climate resilience renovations that were announced May 21 by the U.S. Department of Housing and Urban Development (HUD).
The grants “will advance environmental justice in line with President Biden’s Justice40 Initiative, which sets a goal that 40 percent of the overall benefits of certain federal investments flow to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution,” according to the HUD press release. “Retrofitting these homes will reduce their carbon emissions, protecting homes during extreme weather events, and advancing the President’s housing supply and clean energy agenda, ensuring affordable housing stays affordable for residents and building owners across the nation.”
HUD Great Lakes Deputy Administrator Jim Cunningham, Deputy Assistant Secretary for Multifamily Housing Ethan Handelman, and Assistant Secretary for Housing Julia R. Gordon joined Cincinnati Mayor Aftab Pureval to announce the awards at an event at Washington Park Apartments, one of POAH’s properties in Cincinnati. Washington Park received a $2.2 million surplus cash loan award from HUD for energy efficiency and climate resilience upgrades for 37 homes that serve low-income individuals and families. Crestview Village, POAH’s property in Liberty, MO, received $2,880,000 for 48 apartments.
Including today’s announcement, POAH has been awarded $49 million to upgrade and modernize 1,013 apartments across Ohio, Missouri, Illinois, Massachusetts and Rhode Island.
“For those of us in the affordable housing preservation business, GRRP has been a godsend. It not only allows us to take on the energy efficiency work it is intended for but paired with low-income housing tax credits and other resources, we can make many other improvements as well in older, occupied properties that otherwise might have to wait years,” said POAH Senior Vice President, Midwest Bill Eager at the announcement.
According to HUD’s news release, GRRP is the first HUD program to simultaneously invest in energy efficiency, renewable energy generation, climate resilience, and low-embodied-carbon materials in HUD-assisted multifamily housing to promote housing preservation and health. All of the investments under the GRRP will be made in affordable housing communities serving low-income families, directly benefiting HUD-assisted housing, in alignment with the Justice40 Initiative. Two-thirds of the awardees announced today are in communities designated as environmentally disadvantaged areas, as designated by the White House Council on Environmental Quality’s Climate and Economic Justice Screening Tool.
The grants and loans announced today are the third set of awards made under the GRRP’s Leading Edge category, which requires property owners to commit to achieving recognized, high performance green certifications, such as the National Green Building Standard Gold with Green+ Net Zero Designation. The certifications recognize significant property upgrades such as on-site solar, wind turbines, impact and wind-resistant roofing, and other substantial energy efficiency and climate resilience improvements.
“The enhancements being made to properties using GRRP funding will make the homes of low-income families safer, more efficient, and healthier to live in.” said Deputy Assistant Secretary for Multifamily Housing Ethan Handelman. “We’re pleased to support these efforts to improve the nation’s affordable housing stock while also supporting efforts to combat climate change.”
Eleven other POAH properties previously received grants under the GRRP initiative in the Elements, Leading Edge and Comprehensive categories.
Photo: HUD Great Lakes Deputy Administrator Jim Cunningham, HUD Deputy Assistant Secretary for Multifamily Housing Ethan Handelman, Assistant Secretary for Housing Julia Gordon, POAH Senior Vice President Midwest Bill Eager, Cincinnati Mayor Aftab Pureval
Read the full HUD press release: HUD Announces Funding to Support Energy Efficiency and Climate Resilience in Multifamily Assisted Housing Properties As Part of President Biden’s Investing in America Agenda | HUD.gov / U.S. Department of Housing and Urban Development (HUD)
