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DC Project Shows the Payback from Green Retrofitting

Tax Credit Advisor, April 2009: Galen Terrace, an 84-unit affordable apartment property in the Anacostia neighborhood of Washington, DC, is a poster child for the benefits of green retrofitting.

In a $13.6 million transaction, the tenants’ association joined with developers Somerset Development Company and the National Housing Trust-Enterprise Preservation Corporation to buy, renovate, and preserve the three-building federally assisted Section 8 property.

The renovation included energy efficiency and water conservation improvements with a payback period of 10 years or less. A comprehensive initial energy audit of the buildings identified needed improvements.

The incremental cost of the energy improvements was 3.8% of the development budget. Projected savings are 60% in energy and 21% in water usage.

Green elements included the installation of: solar reflective roof material; green label-certified carpets; Energy Star refrigerators; low-flow water fixtures (shower, toilet, faucets); new energy-efficient windows and doors; daylight sensors on outdoor lights; and barrels to collect rainfall for use to water landscaping. In addition there was insulation of water pipes and use of low-VOC paints, primers, sealants adhesives, and caulking. Renters receive a Green Home Guide and orientation

Date Published:05/19/2009

Tags: District of Columbia, Green/Sustainable Housing

Tax Credit Advisor

Tax Credit Advisor (TCA) is the only publication to provide in-depth coverage of federal low-income housing, historic rehabilitation, new markets tax credits, and state housing & historic credits. TCA, a monthly print publication, alerts you to the news, trends, resources, and emerging opportunities to help you successfully develop, finance, manage, and invest in tax credit projects. read more

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