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A Primer on Multifamily Retrofits
When you mention the word “retrofit,” what could come to mind are major renovation and rehab projects to make an apartment building more energy efficient. The goal of retrofitting is energy efficiency. But in an article published on ApartmentBuildings.com, EcoSmart Solution CEO Chris Gray said there are dozens of retrofit options.
The possibilities range from environmentally friendly lighting to decreases in water consumption to full-scale HVAC replacements and insulation additions. There are also various ways to finance retrofits. Gray said recapitalizing a multifamily property could generate the necessary resources for a retrofit. Furthermore, debt is available for energy-efficient properties from traditional lenders through CPACE structures and government agencies.
When handling multifamily retrofits, Gray suggested focusing on goals and determining what might be feasible to implement. Furthermore, retrofits shouldn’t be considered a one-shot activity but an ongoing process.
Read more at ApartmentBuildings.com.
- ◦Development
- ◦Financing
