Program will fund energy efficiency retrofittings in NYC apartment buildings

New York /
Sep.September 30, 2009 06:15 PM

Deutsche Bank is teaming up with non-profit Community Preservation Corporation to help fund efforts to make New York City apartment buildings more energy efficient. Through CPC’s New York Building Retrofit Program, to which Deutsche Bank has committed $15 million and CPC has committed $25 million of its $150 million to $200 million target, property owners will be able to take advantage of financial incentives and consulting services for going green, with the option to retrofit their buildings as part of a refinancing of their existing mortgage debt. “Our realistic goal is to increase fuel and electrical efficiency of existing apartment buildings by 20 percent or more, reducing a prime source of greenhouse gas emissions and pollutants in our cities,” said Michael Lappin, CPC president and CEO. “We can change the urban landscape by changing the multi-family real estate financing landscape.” In the program’s first year, refinancings and retrofittings are planned for between 1,500 and 2,500 housing units. TRD


Related Articles

arrow_forward_ios
Deutsche Bank CEO Christian Sewing (Getty Images)
Time Warner Center is now the Deutsche Bank Center
Time Warner Center is now the Deutsche Bank Center
Deutsche Bank Chief Financial Officer James von Moltke (Getty)
Deutsche Bank eyes hybrid model while JPMorgan plans office return
Deutsche Bank eyes hybrid model while JPMorgan plans office return
Donald Trump and Rosemary Vrablic (Getty/Illustration by Kevin Rebong for The Real Deal)
Real estate deal prompted resignation of Trump’s longtime banker
Real estate deal prompted resignation of Trump’s longtime banker
Simon Property Group CEO David Simon and Town Center at Cobb Mall (Getty, Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
A Simon mall falls to foreclosure
A Simon mall falls to foreclosure
Rosemary Vrablic with clients Jared Kushner and President Donald Trump (Getty, iStock)
Trump’s longtime banker resigns from Deutsche Bank
Trump’s longtime banker resigns from Deutsche Bank
Deutsche Bank Christiana Riley, chief executive for Deutsche in the Americas (iStock; Getty)
Deutsche Bank could move half its NY staff to smaller hubs
Deutsche Bank could move half its NY staff to smaller hubs
President Donald Trump, Deutsche Bank CEO of Americas Christiana Riley and Manhattan District Attorney Cy Vance (Getty)
Manhattan DA questions Deutsche Bank over Trump
Manhattan DA questions Deutsche Bank over Trump
Behind Deutsche Finance’s American buying binge
Behind Deutsche Finance’s American buying binge
Behind Deutsche Finance’s American buying binge
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...