Transforming What it Means to be Green in Affordable Housing
The Barr Foundation, Wednesday, June 8, 2016.
Earlier this spring, the Local Initiatives Support Corporation’s (LISC) Massachusetts Green Retrofit Initiative reached a milestone as 10 of our 20 multifamily affordable housing partners signed onto the Better Buildings Challenge (BBC). Started by the United States Department of Housing and Urban Development, the BBC provides ongoing technical expertise and support for building owners who commit to a 20% portfolio-wide energy reduction over 10 years. Combined, our 10 leaders own and operate over 22,000 units of housing across Massachusetts, and are transforming what it means to be green for the rest of the affordable housing sector.
The results have been impressive. Through the Initiative, owners have successfully navigated Massachusetts’ complex utility programs to realize consistent and predictable energy efficiency improvements. From 2012 to 2015, participants experienced average savings of 29% for electric projects and 23% for gas projects. Overall, we have worked with 50 multifamily affordable housing owners across the state to benchmark 17,000 units, retrofit more than 5,000 units, and leverage more than $17 million in financing.