Property Class – Affordable vs. Market Rate
The affordable housing industry has embraced the Energy Upgrade California Multifamily program, to ensure their buildings achieve a certain level of energy efficiency that aligns with financing sources and tax credits. In addition, the ability to provide more efficient apartment homes translates into lower monthly utility expenses which makes homes more affordable.
Success in the affordable housing arena has prompted an uptick of program participation by market rate property owners and managers. Being able to promote apartment homes with modern equipment and low utility costs gives market rate properties a competitive advantage over older communities.
Property Rise – Low- vs. High-Rise
In reporting our 21 participant property types, low-rise buildings outnumber high-rise buildings. The majority of multifamily building stock in San Diego is low-rise, with only 12% as high-rise. The EUC MF program has seen nearly 24% of participation from high-rise buildings, which is greater than expected base on building stock data. However the majority of the properties in the program tend to be garden-style communities with multiple two-story buildings. Each building type has unique factors that must be considered when determining which energy efficiency measures will achieve the desired goals.
The EUC MF program sees participation from properties of all ages. The majority of properties are over 40 years old with initial construction in the 1970s. However we do see participation from properties built as recently as ten years ago. Older properties tend to upgrade windows, appliances and HVAC systems. New properties that come through the program typically focus on lighting upgrades to update the property with lighting technologies not available at the time of construction.
Listed below are the 21 properties, grouped by building type:
AFFORDABLE | LOW-RISE
4338 – 4344 1/2 Wilson Avenue
Rio Vista Apartments
Sonoma Court Apartments
St. Regis Park
FUNDS ARE LIMITED AND AVAILABLE ON A FIRST COME, FIRST SERVE BASIS
In 2017, we will further streamline the program to make it even easier to make energy efficiency upgrades. With more demand than ever, it is time to let us know if you are interested in participating in next year’s program. If you are planning upgrades to your multifamily property call us now! We will be contacting those on our interest list to share the details of the upcoming program.
To add your property to the 2017 interest list contact Nicole Beaulieu at email@example.com or call 916-844-0084