Fannie Mae Initiative Targets Healthy Design in Multifamily Properties
May 26, 2017
Fannie Mae has launched the Healthy Housing Rewards initiative, a financial incentive for borrowers who incorporate healthy design features for new or rehabilitated affordable multifamily rental properties.
The initiative, which is part of Fannie Mae’s Sustainable Communities Partnerships and Innovation endeavor, offers a pricing break for borrowers whose properties include design features that improve air quality, encourage physical activity, and incorporate common space, community gardens and playgrounds. Qualified borrowers’ properties must meet or exceed the minimum achievement score of 90 points under the Center for Active Design’s Healthy Housing Index and other affordability requirements defined by Fannie Mae. Properties where at least 60 percent of the units are serving tenants at 60 percent of average median income or less are eligible for participation.
“Incorporating healthy design features in affordable multifamily properties can have a big impact on residents—from increasing physical activity and social interaction to reducing environmental triggers for asthma,” said Jeffery Hayward, executive vice president of multifamily at Fannie Mae. “When we strengthen the connection between affordable housing and the long-term health and stability of the people and families who live there, we help create more sustainable communities across the country. This new initiative will provide a financial incentive to borrowers who invest in the health and stability of the people who live in their affordable housing properties.”
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