Green Financing Initiative

Simple financing options
Sensible retrofits for existing multifamily buildings
Sustainable alternative systems

CPC’s comprehensive new Green Financing Initiative for multi-family property owners combines quick and easy financing solutions with straightforward options for retrofitting existing multifamily buildings to achieve optimum energy efficiency and cost savings.

The $1 billion program is expected to retrofit approximately 15,000 housing units over the next 3 years in low, moderate and middle-income properties using CPC’s "one-stop shop" operation supported by CPC’s extensive technical network to help building owners obtain necessary financing along with public incentives.

A cornerstone of the program is the energy audit which will become a standard part of the application process along with other third party reporting.

CPC’s "one stop shop" operation will include:

Construction Financing with a permanent takeout CPC will provide short term construction financing which will be used for the extensive renovation of occupied, income producing buildings. The retrofit scope will be performed as part of the larger moderate property renovation.

Permanent Financing Permanent mortgages will be offered for properties that do not require extensive renovation by Freddie Mac. Freddie Mac will support the CPC Green Initiative with an enhanced multi-family loan product featuring up to 80% financing with reduced rates to support the energy retrofits.

Energy Audit CPC will require an energy audit as part of the program and will outline appropriate steps to improve the building’s energy efficiency. CPC auditors will advise on appropriate technologies to install, information on qualified contractors, and estimated price ranges for the various efficiency measures.

Coordinate Access to Public Subsidies CPC will help owners access a variety of subsidy programs provided by government and the utility companies to incentivize them to include energy efficient measures in the work scope. These programs include real estate tax abatements and exemptions, low cost loans and grants, and various income tax incentives.

Construction Financing with a permanent takeout

CPC will provide short term construction financing which will be used for the extensive renovation of occupied, income producing buildings. The retrofit scope will be performed as part of the larger moderate property renovation.

Permanent Financing

Permanent mortgages will be offered for properties that do not require extensive renovation by Freddie Mac. Freddie Mac will support the CPC Green Initiative with an enhanced multi-family loan product featuring up to 80% financing with reduced rates to support the energy retrofits.

Energy Audit

CPC will require an energy audit as part of the program and will outline appropriate steps to improve the building’s energy efficiency. CPC auditors will advise on appropriate technologies to install, information on qualified contractors, and estimated price ranges for the various efficiency measures.

Coordinate Access to Public Subsidies

CPC will help owners access a variety of subsidy programs provided by government and the utility companies to incentivize them to include energy efficient measures in the work scope. These programs include real estate tax abatements and exemptions, low cost loans and grants, and various income tax incentives.

Under the program, typical energy upgrades to properties could include:

  • Increased airsealing/firestopping in all apartment and common areas
  • Properly sized and more efficient heating and hot water boilers
  • More efficient heating and hot water controls
  • Better showerheads, aerators and toilets
  • Upgrading ventilation systems
  • Complete apartment, common area and exterior lighting retrofit
  • Energy Star appliances and more efficient motors and pumps
  • Better specification for windows and insulation
Read the Press Release announcing
CPC's Green Financing Initiative Launch.

For more information, please contact your local office.