NEW YORK — On Monday, Governor Kathy Hochul and Mayor Eric Adams launched the Future Housing Initiative, a new partnership investing $15 million to accelerate the creation of 3,000 affordable, energy-efficient, all-electric homes in New York City.
The new effort is a significant step toward goals set out in the state’s Climate Leadership and Community Protection Act, including reducing greenhouse gas emissions by 85% by 2050 and providing 35-40% benefits of clean energy investments to disadvantaged communities, as well as the city’s green building goals under Local Law 97.
“With the Future Housing Initiative, we are taking a big step forward in our commitment to ensuring a more sustainable, affordable and equitable future for New Yorkers,” Governor Hochul said. “I am proud to join Mayor Adams in this vital effort, which will help us achieve our cutting-edge climate goals, improve access to affordable housing in our communities, and build a healthier, greener New York. for everyone.”
This effort, officially titled New Construction Future Housing Initiative, is the result of an expanded Memorandum of Understanding between the New York State Energy Research and Development Authority (NYSERDA) and the New York City Department of Housing Preservation and Development ( HPD).
The initiative aims to accelerate the delivery of development finance and grants to affordable housing projects currently in HPD’s new construction pipeline. The funding will cover the incremental costs of implementing high-performance, all-electric homes of the future standards, such as electrifying heating and hot water systems in design and construction to provide energy savings. , resilience and better air quality for future residents.
“From day one, our administration’s star has been connecting New Yorkers to safe, affordable, high-quality housing,” said Mayor Eric Adams. “This new partnership will do all of that and give us the tools to do it even faster. In New York, we are tackling the climate crisis head-on, and I want to thank Governor Hochul for working with us to deliver greener living. , a brighter future.” that clean, prosperous New Yorkers deserve.
The initiative was made possible by NYSERDA’s $6 billion Clean Energy Fund, which enabled the Future Housing Initiative to offer building owners and developers up to $10,000 per unit and up to $1.5 million per project to fund the construction of multi-family homes. which will obtain the “Passive House” certification, the benchmark for sustainable construction, with drastically reduced energy consumption and carbon emissions.
Development teams will also receive technical assistance to facilitate the necessary design work. The program will support up to 30 projects comprising approximately 3,000 housing units.
“The challenges facing our city are many, but by working hand in hand with our state partners, we can do more than we could alone,” said Brooklyn Borough President Antonio Reynoso. “This association, which integrates housing and climate justice, is a perfect example. Thank you to Governor Hochul, Mayor Adams and the many others who have come together on behalf of our city and the environment.”
Applications for the Future Housing Initiative’s first round of funding with $7.5 million available are open today through HPD and will be accepted through June 1, 2023. A second round will follow in 2024.
Buildings are one of the largest sources of greenhouse gas emissions in New York City, accounting for two-thirds of all greenhouse gas emissions generated in the five boroughs. Incorporating energy efficiency and electrification into affordable housing developments reduces carbon emissions and results in more sustainable, healthy and comfortable homes.
The initiative builds on an earlier partnership to promote the electrification of HPD’s preservation pipeline by funding renovations to existing multi-family buildings. Announced in 2021, the original agreement between NYSERDA and HPD provided strong incentives through the HPD Retrofit Electrification Pilot Project to support building electrification and energy-efficient retrofits in multi-family buildings in HPD’s preservation pipeline with low energy systems where electrification is a big win.
This pilot project is expected to improve approximately 1,200 affordable housing units. The partnership combines the clean energy and technical expertise of NYSERDA and the affordable housing development and financing expertise of HPD with a focus on the design, construction and operation of clean, resilient and neutral buildings in carbon in support of Governor Hochul’s goal of reaching two million climate changes. – friendly houses by 2030.
“All of New York is committed to fighting climate change, and we’re providing the support needed to create energy-efficient homes,” said Rohit T. Aggarwala, director of climate and environmental protection for the New York City. “The Future Housing Initiative will accelerate the creation of 3,000 new affordable, zero-carbon homes and, through PlaNYC, we will develop a public solar financing program for low-income homeowners with one to four families in existing communities. New York is acting aggressively on all fronts to reduce its carbon footprint.