Green Loans Help Lead Housing Developments To Energy Efficiency

Monday November 21, 2011 10:15 AM
UPDATED: Monday November 21, 2011 10:29 AM

This beautiful brick building has a dirty secret.

It's an energy waster with heat slipping out through drafty windows and doors.

"It's an old school is what it was to begin with.  We renovated it about ten years ago and the energy has been an ongoing problem for us," said Steve Bodkin of National Church Residences, the organization that owns this low cost housing development.

Federal and private money is helping this building "go green."

Grants and loans totaling about one million dollars are helping with the upgrades. 

A $250,000 loan from Enterprise Community Partners is funding part of the transformation.


Organizers hope this project helps highlight the need for this type of low interest loans in large scale housing.

"There are 525 windows that are getting replaced all in desperate need. 

The roof is being completely redone," explained Bodkin.

The upgrades don't stop there.  Insulation is being added to the walls and roof.

All the exterior doors will also be replaced. 

Enterprise Community Partners and the Ohio Housing Finance Agency (OHFA) created a partnership to provide a free energy audit to show where energy can be saved.

"They need to be able to believe those energy savings are going to come about.  If they do the work they will see the extra money," added Mark McDermott of Enterprise Community Partners.

The upgrades are projected to save Harvard Village in Cleveland's Slavic Village $25,000 per year. 

The project will help with the electric bill while also rehabbing and beautifying a community cornerstone for all residents.

"To be able to see this kind of investment come back into this neighborhood at a time when we've been hard hit is very special," said Cleveland City Councilman Anthony Brancatelli.

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