Monumental. Seismic. A once- in-a-lifetime opportunity.

The list of metaphors to describe the anticipated outcomes of recent federal investments in the multifamily housing sector has grown ever longer over the past two years. Provisions within the Bipartisan Infrastructure Law (BIL) and Inflation Reduction Act (IRA) aimed at modernizing apartment dwellings in the United States constitute an unprecedented public investment in the nation’s aging affordable multifamily housing stock. While long overdue, this investment could not have come at a more pressing time.

Low- and moderate-income properties in New England and the Mid-Atlantic are widely energy inefficient, as indicated by the significantly higher energy burdens experienced by those who live there. The sheer volume of multifamily housing units in the Northeast makes the sector a critical component of regional state government strategies for greenhouse gas emission reductions. To this end, a growing number of jurisdictions will soon begin requiring owners of multifamily properties to comply with legally mandated building performance standards. Many multifamily properties are old and poorly maintained. Environmental health issues such as asbestos, lead, mold, and other hazards can act as barriers to retrofit projects due to the high cost of remediation. Covering the costs of retrofit projects will be beyond the means of many affordable multifamily property owners.  

Learn about opportunities for equitable decarbonization in affordable multifamily housing.