HUD Invests More Than $2 Million to Modernize Rental Homes for Families in Ohio and Illinois

HUD No. 24-320 HUD Public Affairs (202) 708-0685

FOR RELEASE Monday December 16, 2024

HUD Invests More Than $2 Million to Modernize Rental Homes for Families in Ohio and Illinois

Newly closed Green and Resilient Retrofit Program transactions will fund crucial repairs and energy efficiency and climate resilience improvements.

WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD) announced the recent closing of three Green and Resilient Retrofit Program (GRRP) transactions to help finance energy efficiency and climate resilience improvements for affordable rental homes - $750,000 for Alpha Towers in Toledo, Ohio, $750,000 for Island Terrace 9% in Chicago, Illinois, and $552,313 for Riverwood Apartments in Kankakee, Illinois. Today's announcement underscores the Biden-Harris Administration's commitment to ensuring the benefits of America's clean energy transition reach all Americans and upgrades and improvements are made that will preserve affordable housing. All three properties participate in HUD's Section 8 project-based rental assistance program for low-income individuals and families.

"Through the Inflation Reduction Act and the ongoing support of President Biden and Vice President Harris, HUD continues to deliver funding to modernize HUD-assisted housing and ensure these homes are resilient," said HUD Agency Head Adrianne Todman. "Today's announcement means families in Toledo, Chicago, and Kankakee will benefit from energy efficiency upgrades like energy recovery systems and increased insulation."

Alpha Towers in Toledo, Ohio, is an affordable housing property serving 165 low-income individuals and families. The owner of Alpha Towers, Alpha Towers Preservation, L.P., will use HUD's GRRP funding to replace windows and appliances with energy star alternatives, to install LED lighting fixtures throughout the building, and to install low-flow water efficient toilets.

Island Terrace 9% in Chicago, Illinois, is an affordable housing property serving 60 low-income individual and families. The owner of Island Terrace 9%, PAH Island Terrace LLC, will use HUD's GRRP funding towards the installation of two high-efficiency Energy Recovery Ventilators (ERV) to reduce the energy loads for the buildings and four Dedicated Outdoor Air Systems to provide fresh air to each unit, which will vastly improve the indoor air quality.

Riverwoods Apartments in Kankakee, Illinois, is an affordable housing property serving 125 low-income individuals and families. The owner of Riverwoods Apartments, Riverwoods IL Preservation, will use HUD's GRRP funding to enhance attic insulation, install LED lighting in common areas, tighten the building envelope and install a roof-mounted solar system.

"We are pleased to complete these Green and Resilient Retrofit Program funding transactions with the owners of these three properties to help support the energy efficiency and climate resilience for the homes of low-income families in Ohio and Illinois," said Ethan Handelman, Deputy Assistant Secretary for Multifamily Housing Programs. "Funding this work to boost solar energy and improve air quality is exactly what the Inflation Reduction Act and its $1 billion in funding for GRRP was intended to do."

About GRRP

Funded under the Inflation Reduction Act, GRRP provides funding for direct loans and grants to make improvements to HUD-subsidized properties serving very low-income families, seniors, and persons with disabilities. Properties were selected through three distinct funding opportunities designed to meet the diverse needs of properties across the country. Funding can be used to improve energy or water efficiency, enhance indoor air quality, install zero-emission electricity generation and energy storage equipment, acquire low-emission building materials, implement building electrification strategies, or address and improve climate resilience. The program seeks to amplify recent technological advancements in energy and water efficiency and to bring a new focus on preparing for climate hazards by reducing residents' and properties' exposure to hazards and by protecting life, livability, and property when disaster strikes.

More program information is available on the GRRP Website.