energy saving

HUD Promotes Energy Efficiency and Climate Resilience for New York Families

The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs, announced it has completed a $192,000 loan transaction under the Green and Resilient Retrofit Program (GRRP) with L+M Fund Management to help finance energy efficiency and climate resilience renovations of the Revive 103 apartment community in New York, New York. This is the first transaction closing of a GRRP award in New York, with loan funds incorporated into the construction project to increase the energy efficiency and climate resiliency of the property.
HUD Promotes Energy Efficiency and Climate Resilience for New York Families
New York City (Pixabay)

“Thanks to President Biden’s Inflation Reduction Act, we are making real improvements to lower housing costs and make the lives of the people we serve more comfortable,” said HUD Acting Secretary Adrianne Todman. “Today’s announcement will reduce heating and cooling costs and provide more comfortable temperatures for dozens of HUD-assisted households in New York City.”

Revive 103 is a 60-unit, six-story building serving very low-income families. HUD provides project-based rental assistance to 59 of the households residing at the property. Originally constructed in 1920, the property is undergoing rehabilitation to update kitchens, bathrooms, and common spaces.

L+M Development Partners will use the funding to preserve this critical housing stock and improve the quality of life for residents by tightening the building envelope, sealing all windows and openings in the exterior to reduce heating and cooling costs, which will provide more comfortable and predictable temperatures for residents, during extreme weather events-particularly during times of extreme heat.

“We are proud of the work being undertaken by owners like L+M Fund Management throughout the country who are making use of this Administration’s Green and Resilient Retrofit Program funding to improve the lives of residents and communities,” said Deputy Assistant Secretary for Multifamily Housing Programs Ethan Handelman. “The rehabilitation work at Revive 103 is just one example of innovative use of public and private funds to make assisted housing properties healthier, safer, and more energy efficient.”


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