“Freddie Mac doubled our total Impact Bond issuance in 2021 underscoring our efforts to support rental housing that is green, affordable and meets the diverse needs of communities throughout the country,” said
The report provides highlights from the three bond programs that fall under Freddie Mac Multifamily’s impact umbrella:
$4.6 billion in Green Bonds: Green Bonds are backed by Multifamily loans that incentivize energy- and water-efficiency improvements at workforce housing properties. Tenants in these properties are projected to save an average of more than$250 per unit annually through lower utility costs as a direct result of the green initiatives. In total, the water improvements driven by the program are projected to save over 485 million gallons of water per year which is equivalent to the annual water usage for over 5,200 households. Energy reductions are projected to save enough energy to power roughly 9,800 homes (359 million kBtu).$2.3 billion in Social Bonds: Social Bonds focus on supporting affordable housing by providing liquidity to financial institutions with a distinct mission of addressing affordable housing challenges or providing financing targeted toward underserved populations. Over 130 of the loans underlying Freddie Mac’s Social Bond issuances have supported underserved populations including the disabled, senior citizens, farmworkers, veterans and homeless persons through transitional housing. Nearly 67% of units at these properties are affordable to families earning 50% of area median income (AMI) or less.$3.4 billion in Sustainability Bonds: Sustainability Bonds attract capital to support residents economic mobility and, more broadly, generate community economic growth and sustainability. More than 83% of units at properties with financing supported by the bonds are affordable to families earning 60% of AMI or less. More than two-thirds of mixed-income properties financed are in Areas of Concentrated Poverty, helping improve residential economic diversity, which leads to greater economic and social mobility within a community.
The full text of the report is available on Freddie Mac’s website.
Freddie Mac Multifamily is the nation's multifamily housing finance leader. Historically, more than 90% of the eligible rental units we fund are affordable to families with low-to-moderate incomes earning up to 120% of area median income.
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Source:
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