Green Housing Preservation Program
Community Retrofit NYC will help building owners connect with NYC Department of Housing Preservation and Development’s (HPD) new Green Housing Preservation Program (GHPP) and other financial resources. GHPP provides low- and no-interest loans to finance energy efficiency and water conservation improvement, lead remediation, and moderate rehabilitation work. The program is designed to assist owners of small and mid-size buildings improve building conditions and lower operating expenses to ensure the long-term physical and financial health of their buildings and to preserve safe, affordable housing for low- and moderate-income New Yorkers.
- Eligible Buildings: Small- and mid-sized buildings citywide with at least 5 units and less than 50,000 square feet in floor area (approximately 50 units). Project scopes of work must reduce a building’s energy usage by at least 20%. HPD has additional financing programs that can assist buildings that fall below or above the GHPP building size threshold.
- How does the loan work?
- HPD can lend up to $50,000 per residential unit. A third party firm will conduct a roof-to-cellar assessment of the physical conditions and energy efficiency needs of your building ("Integrated Physical Needs Assessment"). The amount of the loan will be based on the efficiency and repair work identified through the assessment. If you need additional funds to complete the project, we will work with you to find private sources of funding at favorable terms. HPD will also provide support in overseeing the construction process.
- In exchange for our assistance, participants enter into an affordability agreement with HPD.
- For more information on the loan terms, see the GHPP term sheet.
- Background: GHPP was designed to address rising building operating costs, a growing affordable housing crisis, and the looming risks of climate change. Many owners of small- to mid-sized buildings are being squeezed by steadily rising energy and water costs and could benefit from weatherization and other efficiencies that aid in reducing those expenses. The program was created to assist owners access the financing necessary to perform the needed improvements.
For more information, visit NYC HPD Preservation Programs.