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Culture » Take Me Home

Fannie Mae Initiative for Affordable Multifamily Housing

May 31, 2017

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Fannie Mae has recently announced its Healthy Housing Rewards Initiative. The program is meant to provide incentives to builders of multifamily rental housing that incorporate healthy design features. This will apply to new construction as well as rehabilitated affordable multifamily rental properties. The target market is properties where at least 60 percent of the tenants have incomes of 60 percent or less of the average median income.

The incentive to developers is that Fannie Mae will provide below market rate financing for properties that meet the standards. Developers will get a price break if they include design features that "improve air quality, encourage physical activity and incorporate common space, community gardens and playgrounds into newly constructed or rehabilitated affordable rental properties."

It is nice to see the affordable housing crisis being addressed in different areas and this certainly is a step to also help make affordable housing more attractive and healthier, which benefits the community as a whole.

Source: https://centerforactivedesign.org/healthy-housing-index