These homes will be energy-efficient, all electric, aimed to reduce greenhouse gas emissions.
By Brooke Donovan
New York Gov. Kathy Hochul and New York City Mayor Eric Adams launched the “Future Housing Initiative,” a new $15 million partnership aimed at creating 3,000 energy-efficient, all-electric affordable homes in New York City.
The initiative aims to support the state Climate Leadership and Community Protection Act (CLCPA), which includes reducing greenhouse gas emissions by 85% by 2050 and delivering 35-40% of clean energy investments to disadvantaged communities.
The funding comes from the New York State Energy Research and Development Authority’s $6 billion Clean Energy Fund. The new effort aims to deliver more sustainable homes that will align the city’s affordable housing creation work with decarbonization goals, providing New Yorkers with lower energy costs, healthier living conditions and more sustainable homes.
The “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 will provide development financing and grants to affordable housing projects in HPD’s new construction pipeline.
The program will support up to 30 projects that encompass approximately 3,000 dwelling units. Building owners and developers will receive up to $10,000 per unit and up to $1.5 million per project to fund the construction of high-performance, all-electric multifamily buildings that will achieve “Passive House” certification, the gold standard for sustainable construction with reduced energy use and carbon emissions.