Moving beyond internal business practices, Bank of America announced a $20 billion environmental initiative to address global climate change. The 10-year initiative encourages the development of environmentally sustainable business practices through lending, investing, philanthropy and the creation of new eco-friendly products and services. In addition, Bank of America is financially committed to supporting customer projects and addressing internal practices to achieve LEED certification. Read the press release.
Green Affordable Housing Bill Introduced in Congress
On March 1, Reps. Adam Smith (D-Wash.), John Lewis (D-Ga.), Earl Blumenauer (D-Ore.) and Wayne Gilchrest (R-Md.) introduced the High Performance Buildings Act of 2007. The bill encourages the development of affordable housing that is energy efficient, healthier and environmentally sustainable over time.
Specifically, the bill would require that communities' annual consolidated plans to HUD include strategies for sustainable development. (HUD approval of plans is required for states and cities to receive federal housing and community development funds). The bill would also create a program at HUD to provide resources to nonprofit organizations for the development of green affordable housing in low-income communities. Finally, the bill would establish a Sustainable Building Institute at the National Science Foundation to research indoor environmental quality and innovative energy-saving technologies.
In addition to Enterprise, other national organizations endorsing the bill include the American Public Health Association, Global Green USA, the Local Initiatives Support Corporation, the National Center for Healthy Housing and the National Housing Conference. Press Release (PDF, 33K)
Boston Continues to Lead in Green Building
Boston has substantially revised its building code to require all large private construction projects to meet comprehensive green criteria. Projects will be required to include 26 of 69 elements from the U.S. Green Building Council’s LEED rating system as well as several other features the city developed, such as historic preservation.
Boston also announced that its Green Affordable Housing Program will commence with a request for proposals in May for consultants to implement the program. The Partnership consists of the Department of Neighborhood Development, Boston Housing Authority, Boston Redevelopment Authority, Boston Public Health Commission, the Mayor’s Office and the Environmental and Energy Services Cabinet.
The Partnership received a $2 million grant from the Massachusetts Technology Collaborative, Renewable Energy Trust, plus an additional $100,000 from an anonymous local charity, to provide outreach, training and project management assistance to green affordable housing developers and photovoltaic installations to serve 200 affordable apartments. Enterprise, NStar and KeySpan are partners in this groundbreaking effort. In addition, there are four Green Communities developments with a total of 145 affordable units in Boston.
New Resource Bank Offers Green Financing Products
San Francisco-based New Resource Bank will provide a lower interest rate and higher loan amount for construction financing to support green projects. The favorable financing will save $60,000 over 10 years on a $5 million loan. New Resource Bank will provide lower-cost loans to projects that meet U.S. Green Building Council LEED standards and similar environmental criteria. The bank will track the financial and operating performance of its green project loans.
Rose Architectural Fellowships Available
Enterprise Community Partners is pleased to announce that applications are available for four Rose Architectural Fellowships beginning September 2007. The Fellowship creates partnerships between emerging architects and community-based organizations to direct the skills and passions of the architects in the service of low- and moderate-income communities. Fellowships are available with:
- The Fordham Bedford Housing Corporation in Bronx, N.Y.
- Providence Community Housing in New Orleans, La.
- Farmworker Housing and Development Corporation in Woodburn, Ore.
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Southwest Minnesota Housing Partnership in Slayton, Minn.
Applications are available online at www.rosefellowship.org. Please note that the New Orleans Fellowship, sponsored by Capital One, begins as early as May 1 with the application due April 1.
All other Fellowships start on Sept. 1 with applications due April 15. Applicants with diverse educational, professional and personal backgrounds, including minorities and individuals from disadvantaged communities, are encouraged to apply.
The Frederick P. Rose Architectural Fellowship was established in 1999 by Enterprise Community Partners, a national affordable housing and community development nonprofit. The Rose Fellowship honors the late Frederick P. Rose, a prominent developer and philanthropist who believed in the value of good design and the spirit of public service.
Home Depot Foundation Opens 2007 Awards Program
The Home Depot Foundation is accepting applications for its Awards of Excellence for Affordable Housing Built Responsibly program. The program identifies, recognizes and showcases the outstanding work of nonprofit housing developers who have successfully combined affordability with healthy, sustainable measures in housing design and construction. Projects are evaluated by an independent advisory committee of experts. Letters of inquiry are due March 31. More information is available on the Home Depot Foundation website.
Green Communities Project Profile: Village at Headwaters, Portland, Ore.
More than 56 low-income seniors will call Village at the Headwaters (PDF, 27K) their new home. Northwest Housing Alternatives created the development to bring high-density housing to a rapidly expanding metropolitan area and to show how a project can simultaneously be both green and affordable. Village at Headwaters is located in close proximity to mass transit, services for seniors, shopping and cultural opportunities. Enterprise provided a $50,000 Green Communities grant to help the development incorporate environmental features, including Energy Star appliances, advanced lighting fixtures, high-performance window glazing, intensive insulation and high-efficiency hot water heaters, reducing residents’ utility costs by $25 per month on average.
Green Communities Project Profile: Lincoln Woods, Portland, Ore.
Lincoln Woods, also in Portland, offers 70 apartments within four buildings, on a 2-acre site. Human Solutions Inc., designed the development to meet rising housing costs and the need for multi-bedroom apartments. The environmentally friendly features include rainwater catchment and processing onsite to decrease storm water runoff, Energy Star appliances and fixtures, upgraded hot water heaters, low-flow toilets and showerheads, and recycled-content carpeting, drywall and insulation throughout each apartment. Enterprise invested more than $8 million in Low-Income Housing Tax Credits, a $1 million loan and a $50,000 Green Communities grant to support
Lincoln Woods. (PDF, 748K)
