Dec 12 2007
Enterprise, a leading provider of affordable housing nationwide and an innovator in green building, today announced a partnership with the Clinton Climate Initiative (CCI) to bring green affordable housing development and preservation to scale in New York City and New York State. To help achieve this goal, Enterprise also issued a challenge to government partners, foundations and financial institutions to contribute to a $30 million Green Fund, which supports Enterprise's commitment to create and preserve 15,000 environmentally friendly homes for low-income New Yorkers through its national Green Communities initiative.
The announcement was made by Doris W. Koo, president and CEO of Enterprise Community Partners, at Enterprise New York's annual fundraising dinner, the Gotham City Gala, where Enterprise was joined by Ira Magaziner, former policy advisor to President William Jefferson Clinton and Chairman of the Clinton Climate Initiative, to celebrate the announcement. New York City Mayor Michael R. Bloomberg was also honored for his efforts in the area of environmental sustainability.
"Enterprise believes that environmentally friendly housing is a necessity -- not a luxury -- in low-income neighborhoods," said Koo. "Our commitment to create and preserve 15,000 healthy, energy-efficient and environmentally friendly homes for low-income residents in New York is the largest and most ambitious effort of its kind in the country. With this unprecedented $30 million challenge and our partnership with the Clinton Climate Initiative we will be able to expand significantly our efforts to make all affordable housing healthier, more efficient and more sustainable."
"I am pleased that we are working with Enterprise to help make homes for low-income families more energy efficient and more affordable," said Ira Magaziner, Chairman of the Clinton Climate Initiative. "Enterprise's efforts are an example of how we can save money for residents while taking action to address climate change."
Green building is especially important for low-income people, who suffer disproportionately from high energy costs and environment-related health issues, such as asthma, caused by living in unhealthy environments. As residential buildings are one of the largest contributors to greenhouse gas emissions, environmentally friendly affordable housing also plays an important role in combating the adverse effects of climate change.
Enterprise's commitment to green 15,000 affordable homes will have a direct impact on the environment, reducing carbon emissions by 400,000 - 500,000 tons over 10 years. In addition, the initiative will result in a savings on utility costs of $850 - $1,200 for each green affordable housing unit that is rehabilitated and preserved as green.
The Enterprise Green Fund builds on Enterprise's commitment to bring green affordable housing to scale through its national Green Communities initiative, which has already resulted in more than 10,000 environmentally friendly affordable homes nationwide, including over 3,000 in New York. Enterprise's Green Communities commitment supports its Billion Dollar Promise, launched in 2004 with the Bloomberg administration and leading philanthropies, to create affordable housing for 45,000 low-income New Yorkers.