May 5, 2015

Read All About It: Proof ‘Net-Zero Energy’ Works for Multifamily Residents!

As one of the stakeholders that provided financing for Somanath Senior Apartments in Richmond via Low-Income Housing Tax Credits and other VHDA funding, we’re proud to see this apartment complex for lower-income Virginians getting the national recognition it deserves. According to a recent article in Multi-Housing News entitled “Getting to Zero,” this is the first development of its kind in Virginia. (It’s also one of only a few net-zero energy apartments for seniors nationwide.)
courtesy of Chris Cunningham Photography
Built by the non-profit Better Housing Coalition on the site where an industrial lumber mill once stood, Somanath Senior Apartments serves residents who are 55 and older with incomes of 50 percent or less of AMI. Maximum income is $25,000; the average annual income of residents is $11,000. In addition to maximum energy efficiency, the one-bedroom apartments feature Universal Design and are fully accessible. After being certified for occupancy April 1, 2013, they were completely leased by June 1, 2013. 

If you’ve ever wondered how net-zero green technologies can enable a building to produce as much energy as its residents consume, you can read all the details here.
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