In the News: Why Green Matters for Affordable Housing
Image copyright © What Now Atlanta (WNA)
An apartment that is initially affordable to rent is not necessarily affordable in the context of a renter’s day-to-day expenses.
by Abe Kruger
Green building practices are an important piece of the affordable housing solution. In fact, 30 states now require, or at least incentivize, green building as part of their Low-Income Housing Tax Credit (LIHTC) program.
This is especially true in the Southeast, where the energy burden on low-income residents is high. States that implement green building standards for affordable housing are producing buildings that are more energy efficient, use less water, promote occupant health and comfort, increase access to community resources and improve indoor air quality. This, in turn, benefits developers by delivering higher-quality affordable housing, higher resident retention rates and fewer construction defects.
For example, the 90 affordable units completed in Stride Senior Residences in Decatur, Georgia, this year are 25 percent more energy efficient than standard construction and located within walking distance of community services like grocery stores, restaurants, a hospital and public transportation.
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SOURCE: REBusinessOnline.com