AH Developer Gets Green Housing Funds

Silver Gardens, an affordable housing developer based in Albuquerque, N.M., has partnered with nonprofit Enterprise Community Partners to participate in a "green housing" initiative to help low-income families benefit from carbon-offset-based homebuilding. Silver Gardens is the first in the nation to receive grant funding from ECP's new Enterprise Green Communities Offset Fund. "Enterprise's goal for the fund is to create a new resource for green affordable housing and demonstrate how the carbon markets can and must deliver benefits to low-income people," said Dana Bourland, senior director of the green communities initiative at ECP. The grant will be used to provide 119 rental units for families earning between $12,000 and $31,000 annually. Up to 90% of the apartments will rent for $278 to $739 a month. ECP said the green four-story building emits less carbon dioxide and requires 15%-20% less energy than projects using conventional green technology. Project co-developers include the Supportive Housing Coalition of New Mexico Inc. and Romero Rose LLC, the Albuquerque affiliate of Jonathan Rose Cos., an affordable housing developer.