TECHNOLOGY
their student housing communities . Pierce is also tinkering with smart thermostats . “ We ’ ve recently upgraded one of our communities with smart thermostats , enhancing resident comfort and reducing our utility costs , as these devices optimize heating and cooling based on resident routines ,” said KrisAnn Baker Kizer , VP , Leasing and Marketing , Pierce Education Properties .
Deciding on which tech offerings to feature is a function of resident requests and trying to keep up with the competition . " We survey our residents on a regular basis to see what we can offer in terms of new services , technologies or upgrades , " said Kizer .
RISE OF EVS
The Biden Administration is encouraging the switch to electric vehicles through tax credits as it seeks to have EVs make up at least 50 % of new car sales by 2030 . To keep those EVs rolling , it aspires to build a national network of 500,000 electric vehicle chargers . Multifamily owneroperators understand what is at stake for communities across the nation .
“ Bell Partners is in the final stages of contract negotiations with a nationwide provider of EV chargers ,” said Cindy Clare , COO at Bell Partners . “ This partnership will enable us to expand and expedite the installation of EV chargers across our portfolio .”
Bell has identified charging stations as a key amenity , right up there with fitness rooms and swimming pools . The possibility of generating ancillary income derived from chargers remains a question mark but Bell believes the writing is on the wall .
“ EV charging will provide a competitive advantage among prospective renters who drive electric vehicles in the short run ,” said Clare . “ In the long run , having reliable and readily available EV charging will be a necessity .” The federal government is also having a major effect on upgrading the technology of multifamily HVAC systems and putting solar power in play .
A GUSHER OF MONEY
The Inflation Reduction Act is spurring a move toward heat pump and roof-mounted photovoltaic solar arrays — even in multifamily . Affordable housing communities are the biggest potential benefactor of the programs and are forging ahead .
According to the National Housing & Rehabilitation Association , the legislation provides $ 9 billion in funding from the Department of Energy to the states for switching to high efficiency electric home heating systems and water heaters via a rebate plan . Multifamily affordable housing qualifies for double the rebate as compared to market-rate properties .
The Environmental Protection Agency is sitting on $ 27 billion targeted at nonprofits , housing finance agencies and community development groups to provide loans for carbon reduction projects . Another $ 8 billion is going to states , local governments , communitybased organizations and nonprofits for emission reductions .
The Solar Investment Tax Credit has been boosted to 30 % with bonus credits that could increase the rate for multifamily projects to 50 %.
RISE OF THE HEAT PUMP
Uncle Sam loves heat pumps as they create heating and cooling without burning any fuel inside the units . The Hudson Valley Property Group ( HVPG ) owns and operates affordable housing communities in seven states . The firm is tapping into the stream of federal funds to cut heating bills at their Jackson Terrace property in Yonkers , N . Y ., by installing next generation radiators .
Per their statement , “ This smart radiator cover allows [ residents ] to regulate temperatures within their units and provides ownership with
28 | TRENDS OCTOBER 2023 www . aamdhq . org