Increasing Efficiency, Creating Jobs: The Green Retrofit Fund

Enterprise - Energy Efficiency

The Green Retrofit Fund is financing the retrofit of 12 affordable housing properties with approximately 600 units in the San Francisco Bay Area. The San Francisco Foundation’s Program-Related Investment Fund made the $250,000 anchor investment in the Green Retrofit Loan Fund, now a $1 million fund.

The Green Retrofit Fund at Enterprise Community Partners uses a combination of grants and low-interest loans to increase the quality of affordable housing and reduce water and utility bills through improvements in energy and water efficiency, air quality and other sustainability measures.

Investment in affordable housing retrofits stimulates construction activity, creates jobs, and produces better-quality housing and long-term energy cost reductions. The Government Accountability Office estimates that even basic retrofits and upgrades can increase energy efficiency from 25 to 40 percent.

A few of the retrofitted properties are pictured above. On the right, the Iroquois is home to 11 families and 63 individuals, with a total of 74 units. In addition to the support services space and large, open community room, the Iroquois has a roof deck and garden, where tenants grow various decorative plants and host events like picnics and barbeques.

On the left, the San Cristina is home to 58 individual adults. The building features a brightly painted community room, offices for support services, and a fountain and mural on the first floor. Part of the first floor space is reserved for office space and commercial space.

Learn more about the Program Related Investment Fund and other borrowers making a transformative impact in the Bay Area.