Future Housing Initiative

HPD-NYSERDA $15 Million Future Housing Initiative for New Construction

Passive House concepts. Image courtesy of Building Energy Exchange.

HPD has partnered with NYSERDA to pilot a streamlined approach for incorporating clean energy incentives and technical assistance to support the development of high performance, all-electric new projects that meet HPD’s “Reach” goals. Funding will total $15 Million and will be allocated in two rounds. A total of $7.5 million was awarded to projects in Round One.

Round Two Funding Description

Round Two of The Future Housing Initiative will provide a total of $5.8 million to owners and developers of multifamily projects being financed through HPD New Construction Programs to fund the construction of high-performance all-electric multifamily buildings that will achieve Passive House Certification.

Eligibility: The Future Housing Initiative will be open to projects in HPD’s New Construction Pipeline (with an assigned HPD Project ID) that are closing by December 31^st, 2026. Projects slated to close prior to December 2024 or that have not begun their Uniform Land Use Review Process (ULURP) will not be considered for Round #2 of FHI. Projects will be competitively selected through an application process.

Funding: Up to $9,000 per dwelling unit is available to a select number of projects that can demonstrate a financing gap to achieve the program’s performance goals. Funding will be capped at a maximum of $1,500,000 per project. Projects may use incentives to cover both hard and soft costs.

• Base Funding: Up to $7,000/ dwelling unit
• Boost Funding: Up to $2,000 per dwelling unit

Once selected, the project team will work with a NYSERDA funded Technical Assistance Provider to optimize the design and construction process.

Additional Details can be found in the HPD Future Housing Initiative Round 2 Description.

Round Two Program Documents

• Owner’s Participation Agreement
• Future Housing Rider to Contract
• FAQ: General and Technical Questions
• Future Housing Process Steps
• FHI Project Team and Roles Worksheet
• FHI Closing Checklist
• FHI Full Document Checklist

Round Two Technical & Policy Resources

• HPD Technical Requirements- Split System Heat Pump for Space Heating
• HPD Technical Requirements- Room Heat Pump
• HPD Technical Requirements- Heat Pump Water Heater
• VRF System Maintenance Plan
• HPD’s Underwriting High Performance Resources – Includes HPD’s Heating Policy, HPD’s M&O Standards, Utility Allowances, and Underwriting High Performance Worksheets
• W-9
• DRAF (owner-paid utilities)
• DRAF (resident-paid utilities)
• Con Edison Authorization Form
• Con Ed Load Letter

Round Two Application Documents

• Future Housing Round 2 Initiative Program Description
• Future Housing Round 2 Initiative Application
• Future Housing Round 2 Project Requirements Checklist (Attachment A)

Round One Program Documents

• Owner’s Participation Agreement
• Future Housing Rider to Contract
• W-9
• Future Housing Process Steps
• FHI Project Team and Roles Worksheet
• FHI Budget Worksheet
• FHI Closing Checklist
• FHI Full Document Checklist
• DRAF (owner-paid utilities)
• DRAF (resident-paid utilities)
• Con Edison Authorization Form
• Technical Requirements – Heat Pumps for Space Heating
• Technical Requirements – Heat Pumps Water Heater
• Technical Requirements – Room Heat Pumps
• Assignment of Incentive Form: If needed, NYSERDA can work with lender to assign incentive to leader in the event of default. Please work with NYSERDA directly.

Owner & Resident Resources

• Tax Incentives – 45L Tax Credits for Zero Energy Ready Homes
• Passive House Training Series - Building Energy Exchange
• Passive House Financing- Building Energy Exchange
• SWA Academy (swa-academy.com) includes training on heat pumps, Passive House and more
• PHIUS Certification
• PHI Certification
• Residential User Tips for Air Source Heat Pumps
• NYC’s Utility Assistance Programs
• Community Solar

Additional questions? 

Please email additional questions to: futurehousing@hpd.nyc.gov