Building Owners & Developers
The goal of NYSERDA’s RetrofitNY program is to make carbon neutral retrofits a reality and electrify the building stock in New York in a cost-effective way. By continuing to build momentum and harnessing the collective buying power of affordable multifamily housing owners interested in carbon neutral retrofits, we can stimulate cost compression on new technologies and reduce overall project costs so that more New Yorkers have access to the benefits of carbon neutral 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 demonstrate a path to carbon neutral buildings 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 carbon neutral 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
Request for Qualifications
If you have buildings that satisfy the criteria above, consider applying to our Request for Qualification (RFQL) to be qualified as an Affordable Housing Multifamily Building Owner, and get your property qualified as a pilot candidate. Buildings selected as pilot candidates will be eligible to work with prequalified design teams and apply for RetrofitNY gap funding.
Sign the RetrofitNY Pledge
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 Carbon Neutral Performance with RetrofitNY?
- Reduced Costs and Increased Cash Flow: With carbon neutral 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.