Going Green with Multifamily Housing
The City of El Paso has added another incentive for multifamily development in the city, offering a bonus to builders who meet specific green building benchmarks.“This program is a win-win for all parties involved,” said Kathy Dodson, City of El Paso Economic Development Director. “Not only does it address a citywide effort for more multifamily construction, but it provides an added incentive for developers who use greener building practices, which will save renters money in the long run.”
Multifamily Green Building Grant awards will now be given to all developers who construct new multifamily units in El Paso which meet the American National Standards Institute (ANSI) National Green Buildings StandardTM of bronze or higher. ANSI is a nationally-recognizable program that has developed a model for regionally-appropriate green building practices. Award amounts will be $100 for every unit that reaches the standard, and awards will be available on a first come, first serve basis for the first 4,000 units.
Along with new program, the Green Building Grant program currently in place has been amended to reduce certain requirements if certain investment levels are met. This program currently allows for grants from $50,000 to $400,000 for construction or renovation of buildings using greener building practices.
For more information on the current incentive programs offered by the City of El Paso, call (915) 541-4670.