Building Owners & Developers

Learn about the
RetrofitNY Pledge

The goal of NYSERDA’s RetrofitNY program is to make net zero energy retrofits a reality in New York, at costs comparable to those of conventional rehabs. By continuing to build momentum and harnessing the collective buying power of affordable housing owners interested in net zero retrofits, we can stimulate cost compression on new technologies and reduce overall project costs so that the affordable multifamily market can reap a multitude of benefits associated with net zero performance.

If you’re refinancing or planning a recapitalization project in the next 24 months, you may benefit from a conversation with the RetrofitNY team. We're working with building owners on renovations that approach net-zero and how you can incorporate these solutions as a part of a planned, upcoming capital investment project.

Working with the RetrofitNY team is a viable option if you’re interested in exploring net-zero retrofits and own or manage a building or portfolio of buildings that:

  • Qualify as affordable housing
  • Meet a 1-3 story or 4-7 story multifamily building typology
  • Are architecturally simple
  • Are approaching recapitalization with planned refinancing in the next 12-30 months that would include major capital upgrades or rehabilitation

Join the Movement

Join your peers by signing the RetrofitNY Pledge to advocate for lower cost, higher performance building solutions. To get started, learn more about the Pledge or contact RetrofitNY@nyserda.ny.gov to schedule an initial consultation. 

Why Should You Consider Net Zero Performance with RetrofitNY?

  • Reduced Costs and Increased Cash Flow: With net-zero performance, your buildings will benefit from lower operating costs, including reductions in utility and maintenance expenses and over time in other expenses such as insurance. These savings will increase your net operating income, providing you with cash flow flexibility for future capital projects or improvements.
  • Increased Property Value: When you increase your building’s net operating income through efficiency upgrades, property value increases which may be reflected in an appraisal.
  • Gain an Advantage During Funding Cycles: When competing for affordable housing funding sources, a building with higher energy performance can help your application stand out to secure the funding needed for capital improvements.
  • Streamlined Renovation Process: The RetrofitNY approach allows your tenants to remain in their homes for the duration of your renovation project, minimizing disruption to their lives and avoiding lost rental revenue to owners due to temporary vacancies.
  • Improved Tenant Satisfaction: Your tenants can expect improved comfort and health, resulting in a reduction in tenant service calls. These benefits can show your commitment to your current tenants and act as a key differentiator when marketing your building to potential tenants.
  • Avoid Possible Future Penalties: Stay ahead of New York City’s Climate Mobilization Act and position your buildings to gain carbon credit value in future carbon trading markets.