The Greenhouse Gas Reduction Fund (GGRF), created by the federal Inflation Reduction Act of 2022, provides a first-of-its-kind opportunity to address the climate crisis with an unprecedented $27 billion in investments. GGRF funds will allow communities across the country to mobilize financing and private capital toward programs that reduce greenhouse gas emissions (GHGs).
A significant share of GGRF funds will be invested in existing and new residential buildings, including affordable housing, to reduce emissions associated with domestic energy usage. This report shares opportunities and challenges for financing and executing building decarbonization retrofits for unsubsidized multifamily housing in the San Francisco Bay Area that either have been recently acquired and rehabilitated by nonprofit affordable housing developers or that could be acquired and rehabilitated in the near future.
Enterprise Community Partners (Enterprise), Housing Accelerator Fund (HAF), and Local Initiative Support Corporation (LISC) collaborated on this report, bringing their vast experience in supporting developers in the acquisition and rehabilitation of existing multifamily properties to create healthy, green, and resilient affordable homes.
- Report