ULI Chicago News

MacArthur Foundation to Provide $25 Million to Finance Energy Efficiency Upgrades in Multi-Family Housing

MacArthur committed $25 million to support and expand innovative energy efficiency financing programs specifically designed to meet the challenges and needs of multifamily housing in the United States. The announcement coincides with the White House event highlighting a new report on the potential of impact investing, “Private Capital, Public Good: How Smart Federal Policy can Galvanize Impact Investing—and Why It’s Urgent.”

MacArthur’s impact investments will help to reduce significantly carbon footprints for some of the country’s least energy efficient buildings and make housing more affordable for low-income families, seniors, and individuals with special needs, such as veterans and the formerly homeless.  Read Full Release

Elevate Energy is listed in the release as a past grant recipient and an example of a promising financing model to scale up.  They were also a key partner in The Preservation Compact, another program funded by MacArthur, and launched in 2005 by ULI.  The Compact addresses the loss of affordable rental housing stock in Cook County and is now integrated into the Community Investment Corporation’s program of work.  Elevate Energy was also a 2012 ULI Chicago Vision Awards Winner.

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