Since it was established a few years ago, Green CommunitiesInitiative has invested more than $570 million in grants, loans andequity for sustainable housing. The grant of $500,000 "is a sizableamount for our grant funding activities," Dana Bourland, seniordirector of the Enterprise Green Communities initiative, tellsGlobeSt.com. Of the $570 million, $530 million is equity investmentin development. The remainder is funding for low interest loans andgrants for development. Grant funds are used to support initialplans for affordable green housing, including hard constructioncost, she says.
Since it was established, Green Communities has created morethan 13,500 sustainable homes in 300 communities. Other cities--SanFrancisco, for instance--have since adopted the program's frameworkand 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.
