Local Stuart Gardens Apartments to Benefit from $73.5 Million HUD Funding for Safer, Climate Resilient Housing

The U.S. Department of Housing and Urban Development (HUD) has allocated $73.5 million in loans and grants. This is part of the Green and Resilient Retrofit Program (GRRP). The funds are part of President Biden’s Investing in America agenda. They will support energy efficiency and climate resilience renovations for low-income Americans. The money will be used to improve safety, efficiency, and resilience to climate change at 10 HUD-assisted multifamily properties. These properties house about 1,400 low-income families, including 44 homes for low-income seniors.

The announcement was made at Stuart Gardens apartments in Newport News, VA. This property is one of those receiving funding. It is owned by affordable housing provider Vitus. HUD has so far awarded over $368 million in GRRP funds. These have supported renovations at 84 multifamily properties, improving over 9,000 homes.

HUD Secretary Marcia L. Fudge said the Green and Resilient Retrofit Program helps include low-income families in climate change efforts. The program aims to give these families access to clean energy upgrades. These include solar panels and modern heating and cooling systems. This new funding is part of President Biden’s Investing in America agenda. It aims to increase energy efficiency and address climate change nationwide.

President Biden’s Inflation Reduction Act established the GRRP. It provided over $800 million in grant and loan subsidy funding and $4 billion in loan commitment authority. These funds are for efficiency and resiliency improvements. The GRRP investments align with the Administration’s Justice40 Initiative. This initiative aims to deliver 40 percent of the benefits of certain Federal investments to disadvantaged communities.

The announced grants and loans are the second set of awards under the GRRP’s Leading Edge category. This category requires property owners to aim for high-performance green building certifications. These include the National Green Building Standard’s Gold certification with the Green+ Net Zero Energy designation. These certifications recognize property upgrades like on-site solar power generation and wind-resistant roofing.

This article has been enhanced with AI assistance. Agree to access AI-generated content by clicking here, or opt for content with less AI influence here.