photo credit: Nelson Ndongala

tall apartment complex

Report | 2022

Wells Fargo Housing Affordability and Climate Change Dialogues

Multifamily Workshops Summary Report

By Ellie White, Mark Kresowik, Rick Hollander, Liam Keyek, Greg Hopkins

New and existing financing tools must play a crucial role in addressing barriers to achieving energy efficiency and emissions reductions in the US multifamily housing sector. Yet current market challenges have inhibited the adoption of low-carbon technologies across the sector. To identify and address current market pain points, RMI and Wells Fargo convened key industry experts, including leading developers, lenders, policy influencers, technical experts, and housing finance agencies, to engage in two interactive workshops on addressing existing market challenges inhibiting the advancement of low-carbon affordable multifamily housing. To help inform the workshop discussions, participants engaged in a pre-event survey and ranked the following market challenges for consideration and workshop discussion:

Participant survey findings graphic

After identifying key challenge areas, participants collaborated on potential solutions that could be explored by key industry leaders. From providing greater liquidity to C-PACE lenders to deploying grants to technical assistance programs, strategies surfaced throughout the workshop highlight opportunities to drive substantial progress in enacting low-cost, sustainable, and resilient solutions across the multifamily market. This report outlines such recommendations and explores opportunities for lenders and philanthropies to leverage new and existing financing tools and market solutions to dissolve existing obstacles preventing a climate-aligned US multifamily housing stock.

Disclaimer: Statements and opinions in this publication and related materials are suggestions offered by workshop participants and do not represent the opinions of Wells Fargo or RMI. This document is presented for informational purposes only and is not intended to recommend any particular investment or inform investment decisions.