Since it was established a few years ago, Green Communities Initiative has invested more than $570 million in grants, loans and equity for sustainable housing. The grant of $500,000 "is a sizable amount for our grant funding activities," Dana Bourland, senior director of the Enterprise Green Communities initiative, tells GlobeSt.com. Of the $570 million, $530 million is equity investment in development. The remainder is funding for low interest loans and grants for development. Grant funds are used to support initial plans for affordable green housing, including hard construction cost, she says.
Since it was established, Green Communities has created more than 13,500 sustainable homes in 300 communities. Other cities--San Francisco, for instance--have since adopted the program's framework and duplicated in their own regions.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
