Lenders and Regulators
Transforming how New York State’s affordable housing market is renovated is the key to unlocking a billion-dollar annual market. While targeting the affordable housing sector to start, RetrofitNY intends to develop the new default model for how renovation is done, penetrating the market-value sector and reviewing applications for new construction as well. Developing a scalable high-performance, low-maintenance, and low-risk solution is attractive not only to building owners and developers, but to their financing partners as it promises to revolutionize the housing industry.
We are currently collaborating with lenders and affordable housing agencies to develop innovative opportunities that will integrate energy savings into existing financing structures. And as RetrofitNY’s proof-of-concept design rounds generate viable solutions installed, we will be closely monitoring performance and developing long-term total cost of ownership models backed by results that can be leveraged throughout the entire housing market.
Benefits to Financial Institutions Include:
- New products and services for existing clientele in a growing sector
- Access to a large pool of borrowers with lower default risk due to reduced energy costs, simplified building operating systems, and reduced dependence on volatile energy sources
- More options for sustainably minded or socially conscious investors
If your organization is one of the following, we want to hear from you:
- Affordable housing lenders
- Community development financial institutions (CDFIs)
- Non-profit/philanthropic organization
- Mortgage insurers
- Tax equity providers
- Affordable housing agencies
- Private equity firms
- Appraisers
Learn how you can get started.