flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

In many markets, green features are more of a requirement for apartment renters

Codes and Standards

In many markets, green features are more of a requirement for apartment renters

Tenants seek healthy indoor air, sustainability features


By Peter Fabris, Contributing Editor | July 17, 2018
In many markets, green features are more of a requirement for apartment renters

Photo: Pixabay

   

Renters in many U.S. cities have come to expect green features in apartments that they rent, with an eye toward energy efficiency and healthy indoor air, according to a report by National Real Estate Investor. New apartment units today almost always include some green features, with renovations often incorporating sustainable design components. 

Some 42% of overall multifamily financing provided by Fannie Mae in 2017 qualified for its Green Rewards program. That program offers lower interest rates to apartment properties that have earned green building certifications or pledge to cut their energy use by at least 25% through renovations.

Tenants are willing to pay an extra $27.21 a month to live in buildings that have green certifications, according to the 2017 NMHC/Kingsley Renter Preferences Report.

With the cost of incorporating many green features in apartment properties having dropped to be roughly comparable to conventional construction, landlords are meeting the wishes of the market. Fannie Mae’s Green Rewards program often slices about a fifth to a third of a percentage point off the interest rates offered to apartment borrowers.

In 2017, Fannie Mae provided $27.6 billion in financing to qualified apartment properties through Green Rewards.

Related Stories

Codes | Jun 17, 2024

To avoid lawsuits, contractors and designers need to do more than comply with codes

Climate change is making design and construction more challenging and increasing the potential for lawsuits against building teams, according to insurance experts. Building to code is not enough to reduce liability because codes have not kept up with the rapid climate changes that are making extreme weather more common.

Concrete Technology | Jun 17, 2024

MIT researchers are working on a way to use concrete as an electric battery

Researchers at MIT have developed a concrete mixture that can store electrical energy. The researchers say the mixture of water, cement, and carbon black could be used for building foundations and street paving.

Codes and Standards | Jun 17, 2024

Federal government releases national definition of a zero emissions building

The U.S. Department of Energy has released a new national definition of a zero emissions building. The definition is intended to provide industry guidance to support new and existing commercial and residential buildings to move towards zero emissions across the entire building sector, DOE says.

Green | Jun 11, 2024

Tool helps construction and renovation projects with CalGreen compliance

One Click LCA recently launched a new software tool to help building teams comply with Part 11, Title 24, of the California Code of Regulations—CALGreen. The regulation is the nation’s first state-mandated green building code to include embodied carbon emission control as a mandatory component, effective from July 1, 2024.

Urban Planning | Jun 10, 2024

N.Y. governor halts Manhattan traffic congestion pricing plan

New York Gov. Kathy Hochul says she is indefinitely delaying the implementation of congestion pricing in Manhattan just weeks before the plan was to take effect. The controversial plan would have had drivers pay $15 to enter Manhattan south of 60th street.

Lighting | Jun 10, 2024

LEDs were nearly half of the installed base of lighting products in the U.S. in 2020

Federal government research shows a huge leap in the penetration of LEDs in the lighting market from 2010 to 2020. In 2010 and 2015, LED installations represented 1% and 8% of overall lighting inventory, respectively. 

Contractors | Jun 7, 2024

First-in-nation law requires contractors to pay prevailing wage for subsidized housing projects in Minnesota

Minnesota recently adopted a first-in-nation law that requires contractors to pay prevailing wage for subsidized housing projects in the state. This action makes Minnesota the first state in the nation to mandate prevailing wages on projects funded by federal Low-Income Housing Tax Credits (LIHTC).

Multifamily Housing | Jun 3, 2024

Grassroots groups becoming a force in housing advocacy

A growing movement of grassroots organizing to support new housing construction is having an impact in city halls across the country. Fed up with high housing costs and the commonly hostile reception to new housing proposals, advocacy groups have sprung up in many communities to attend public meetings to speak in support of developments.

MFPRO+ News | Jun 3, 2024

New York’s office to residential conversion program draws interest from 64 owners

New York City’s Office Conversion Accelerator Program has been contacted by the owners of 64 commercial buildings interested in converting their properties to residential use.

MFPRO+ News | Jun 3, 2024

Seattle mayor wants to scale back energy code to spur more housing construction

Seattle’s mayor recently proposed that the city scale back a scheduled revamping of its building energy code to help boost housing production. The proposal would halt an update to the city’s multifamily and commercial building energy code that is scheduled to take effect later this year. 

boombox1
boombox2
native1

More In Category




Green

Tool helps construction and renovation projects with CalGreen compliance

One Click LCA recently launched a new software tool to help building teams comply with Part 11, Title 24, of the California Code of Regulations—CALGreen. The regulation is the nation’s first state-mandated green building code to include embodied carbon emission control as a mandatory component, effective from July 1, 2024.

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021