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HUD Announces Funding to Support Energy Efficiency and Climate Resilience in Multifamily Assisted Housing Properties as Part of President Biden’s Investing in America Agenda

September 14, 2023

Island Terrace

As part of President Biden’s Investing in America agenda, the U.S. Department of Housing and Urban Development (HUD) today announced it has awarded approximately $18 million in grant funding and loan commitments under the Green and Resilient Retrofit Program (GRRP) to owners of properties participating in HUD-Assisted Multifamily Housing programs. President Biden’s Inflation Reduction Act—the largest climate investment in history - established the GRRP with more than $800 million in grant and loan subsidy funding and $4 billion in loan commitment authority. It is the first HUD program to simultaneously invest in energy efficiency, renewable energy generation, climate resilience, and low embodied carbon materials in HUD-assisted multifamily housing. Investments under the program will be made in affordable housing communities serving low-income families in accordance with the Biden-Harris Administration's Justice 40 goals and advance Bidenomics – President Biden’s agenda for building the American economy from the middle out and the bottom up. Today’s first wave of awards will help fund upgrades for 28 multifamily properties with more than 3,400 HUD-Assisted Multifamily rental homes for low-income families, seniors, and persons with disabilities.

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