Fannie Mae Offers Affordable Housing Developers Incentives for Focusing on Residents' Wellbeing
Tuesday, January 23, 2018
Last year, mortgage loan company Fannie Mae launched its Healthy Housing RewardsTM program that aimed to provide financial incentives for affordable housing developers who incorporated healthy design features into multifamily rental properties.
Healthy Housing Rewards offered pricing breaks to borrowers who included features that improved air quality, encouraged physical activities and incorporated common spaces into affordable rental properties.
Now, Fannie Mae is rolling out a new feature of Healthy Housing Rewards called Enhanced Resident ServicesTM to encourage developers to focus on the health and wellbeing of residents.
Enhanced Resident Services offers developers a lower borrowing rate in exchange for providing residents with health and wellness programs, food access, youth and education programming, day care and job training.
The program will be implemented with help from Stewards for Affordable Housing for the Future (SAHF), a group of affordable housing providers that offers compliance certifications for borrowers and affordable housing properties providing the services.