Columbus Property Management and Development, Inc. (CPM) won a grant from the U.S. Department of Housing and Urban Development through its Energy Innovation Fund (EIF) to bring energy innovation and cost savings to
affordable housing residents in North, West, South and Northeast Philadelphia. Community Environmental Center, Inc., in Long Island City, New York, also won $3 Million in the Applied Research category, with seven others in this category receiving smaller grants.
The project will combine energy efficient upgrades with the installation ‐ in half of the units ‐ of energy display devises (EDDs) (small units that display real‐time utility consumption). It is anticipated that the overall effect will be a reduction by 20% or more of energy costs across the 166 unit portfolio. CPM has partnered with Steven Winter Associates, Inc. (SWA), building systems consultants based in Washington, DC, to help implement this project.
CPM is implementing a new financial model to fully fund the rehab project, using tax exempt bond financing and 4% low income housing tax credits ‐ to ensure that the units are not only energy efficient, but also remain affordable for at least 30 years into the future.
“We are extremely grateful to be selected by HUD for this important grant,” said Alfredo de la Pena, Executive Director of Columbus Property Management & Development, Inc. “CPM is committed to providing quality, affordable housing for the most vulnerable individuals in our region and green building practices are an essential part of our approach.”
“We’re confident that this grant will help us develop a successful model for reducing energy consumption in multi‐family housing that will result in savings for both tenants and property owners. We’re looking forward to sharing the outcomes of our work with others so that the model can be replicated nationally,” he added.