$16.5 million in grants released to improve energy efficiency of affordable housing in NYC

New York State has released nearly $17 million to decarbonize and upgrade affordable housing complexes. The money will help building owners improve the building envelope through improved window and ventilation systems. The funds are available through New York's Resilient and Equitable Decarbonization Initiative for Existing Buildings Program (REDi: EB).

Governor Kathy Hochul announced the news on Monday, saying the funding will help builders and developers make electrification and energy efficiency retrofits to buildings regulated by the New York City Department of Housing Preservation and Development (HPD). According to New York state officials, retrofitting HPD buildings will help reduce fossil fuels, lower greenhouse gas emissions and improve indoor air quality for residents.

“There is a wealth of data showing that residential buildings, especially older buildings, are energy inefficient and produce major greenhouse gases,” said RuthAnne Visnauskas, Commissioner of New York State Homes and Community Renewal. “This partnership complements our statewide clean energy initiative by providing incentives and technical assistance for high-efficiency, all-electric, affordable housing. HPD now has critical resources to retrofit and modernize the housing stock it serves, with the dual benefit of extending the life of the buildings while improving environmental conditions in the building and the surrounding neighborhood.”

According to officials, $15 million is now available through REDi:EB, awarded on a first-come, first-served basis, to cover the additional costs of improving the building envelope through improved insulation, windows and ventilation systems. The maximum amount is $1 million per building, or up to $2 million for multi-building projects. During the construction phase, incentive funds from HPD will be paid to the project. In addition, $1.5 million is now available to fund technical assistance during the design, construction and post-construction phases for projects participating in REDi:EB.

New York has invested more than $6.8 billion to decarbonize buildings across the state.