Sustainability

CPC’s Sustainability initiative promotes energy and water conservation measures to improve the financial and physical quality of the buildings and communities in which we live and work. Since launching our energy efficiency and decarbonization efforts, CPC has financed hundreds of energy efficient, multifamily projects and is committed to supporting the development of high-performance affordable housing.

 

CPC collaborates frequently with industry peers to develop free industry resources to support energy efficiency efforts for multifamily lenders, developers, appraisers, building owners, and others in the multifamily ecosystem.

 

CPC is one of the first real estate nonprofits to achieve carbon neutral operations.

 

 

Our Approach

Given the influence a lender can have on the economics and the conditions of building stock, CPC seeks environmental and social sustainability in all of its endeavors.

CPC literally wrote the book on underwriting efficiency: Our Underwriting Efficiency handbook is the industry-leading guide to this practice. By underwriting projected savings/performance into the first mortgage economics, additional loan proceeds can be made available to help cover the cost of the efficiency measures. The cost savings associated with energy efficient measures plays a key role in ensuring long-term economic stability of multifamily properties, furthering CPC’s mission.

Our Financing High-Performance guide is a resource for all multifamily building stakeholders that demonstrates the practical benefits of designing, financing, building, and maintaining high-performance new construction, as well as the non-energy benefits that add value to the physical asset and to the lives of the tenants and communities it serves.

Carbon Neutral Operations and Employee Engagement

In 2020, CPC achieved carbon neutral operations, aligning with New York City and New York State carbon reduction goals, as well as international frameworks such as the Paris Agreement and the United Nation’s Sustainable Development Goals.

Our employees are vital ambassadors of our carbon neutral commitment. Internally, we host educational events, engage colleagues across working groups that advance sustainability within the company, and continue to collaborate to reduce our carbon footprint.

To add value to the market and support the adoption of increased environmental and economic sustainability, CPC offers a variety of publicly available resources for the multifamily ecosystem.

We also convene and connect our partners and peers in the real estate industry to advance energy and efficiency solutions through education, trainings, conferences, and research. We write case studies and develop guides to equip lenders, public partners, and owners with the latest information on the market to help inform decisions about how best to finance energy and water efficiency measures.

There is no doubt that we can accomplish more together than we can alone. CPC works closely with government agencies, local community groups, housing developers, financial institutions, and other affordable housing stakeholders to advance our shared commitment of healthy, energy efficient, low carbon multifamily housing.

Advisory Work, Memberships, and Other Real Estate Industry Activities:

Passive House Study Partners

CPC, HPD, Bright Power and Steven Winter Associates have been working together since 2019 to fill the gap in cost and energy performance data for Passive House developments. Together, the partnership has completed phase one of a study that helps demystify Passive House performance and incremental first costs, helping to provide the hard data that CPC and fellow lenders need to underwrite the utility “savings” that are widely understood to be achieved by Passive House developments in comparison to their non-Passive peers.

Passive House owners, developers and managers are invited to contribute to this ongoing work by sharing Passive House development performance data. Data is being collected and analyzed by a team of City University of New York graduate students and will be available as a free resource to the multifamily housing community.

NYSERDA

The Community Preservation Corporation (CPC) supports NYSERDA in helping further its mission to advance innovative energy solutions that improve New York’s economy and environment. CPC and NYSERDA collaborate in a number of ways to advance a common goal of lowering greenhouse gas emissions from New York’s built environment.

CPC works closely with RetrofitNY, a NYSERDA initiative working aggressively to bring a large number of affordable housing units to or near carbon-neutral by 2025.

CPC also serves on NYSERDA’s Carbon Neutral Buildings Roadmap Technical Advisory Group.

NYCEEC

NYCEEC (the New York City Energy Efficiency Corporation) is a nonprofit, exclusively dedicated to
financing energy efficiency and clean energy projects in buildings in NYC and throughout the Northeast and Mid-Atlantic regions.

NYCEEC’s vision is for energy efficiency and clean energy financing for buildings to achieve scale and be accessible to all. We accomplish this by prioritizing financing for high-impact energy efficiency and clean energy technologies in affordable housing and underserved communities.

CPC’s Sadie McKeown serves on the Board of NYCEEC, offering guidance on the organization’s work to make our communities greener, cleaner and more affordable through clean energy building projects.