Print pageFor Immediate Release
November 19, 2024
Contact: Douglas Robinson | [email protected] | [email protected]
NeighborWorks America Launches Program to Help Nonprofit Apartment Owners and Developers Access Billions in Capital to Increase Energy Efficiency
Washington, D.C. – NeighborWorks America has launched a new training program to help nonprofit rental housing developers and owners access billions of dollars in federal grants and tax credits to increase the energy efficiency, resiliency and financial stability of their apartment portfolios in partnership with the private sector. Registration is now open to all professionals interested in accessing this opportunity. The program that will have its first gathering at the NeighborWorks Training Institute (NTI) scheduled for February 10-14, 2025 in Philadelphia. The training program is part of a larger strategic focus at NeighborWorks to help nonprofit owners of affordable rental housing manage increasing financial pressure in their portfolios driven by higher insurance premiums and operating costs.
“NeighborWorks America is uniquely positioned to hear from a broad range of owners and developers because of our network’s diverse base,” said Senior Vice President of National Initiatives Lee Anne Adams. “The Multifamily Clean Energy Investment Playbook” course at the NTI was designed after listening to the needs of our membership and others in the affordable apartment community to give them the information they need to access a once-in-a-generation source of development and rehabilitation capital.”
Federal investment dollars are flowing into states that leverage private-market financing for energy-efficient, multifamily affordable housing. In addition, expansion and reform of tax credits as well as several novel grant and loan programs are now available to affordable multifamily developers. This includes incentives for solar and storage, building electrification and other efficiency measures to help build out low- to no-emission homes.
“Energy is a huge cost for every owner of apartment homes,” explained Adams. “Wringing energy expenses out of each apartment helps owners keep rents as low as possible, immediately benefiting families who often have very tight budgets. Making these investments now can alleviate cost burdens and make properties more resilient in the long-term.”
NeighborWorks network organizations own and manage more than 209,000 apartment homes, and many families living in these high-quality and safe places have very low and low incomes.
About NeighborWorks America
For more than 45 years, Neighborhood Reinvestment Corp., a national, nonpartisan nonprofit known as NeighborWorks America, has strived to make every community a place of opportunity. Our network of excellence includes nearly 250 nonprofits in every state, the District of Columbia, Puerto Rico, and on Native lands. NeighborWorks offers grant funding, peer exchange, technical assistance, evaluation tools and access to best-in-class training as the nation's leading trainer of housing and community development professionals. NeighborWorks network organizations provide residents in their communities with affordable homes, owned and rented; financial counseling and coaching; community building through resident engagement; and collaboration in the areas of health, employment and education.
