University Community Development Corporation FOR IMMEDIATE RELEASE MEDIA CONTACT January 25, 2006 Strickland Communications Co. Jill Strickland Luse, 404.822.0145 cell email@example.com MAYOR FRANKLIN HELPS UCDC AND ENTEPRISE UNVEIL NEW GREEN COMMUNITIES HOME Atlanta First to Offer “Green,” Affordable Single-Family Homes For Sale Atlanta Mayor Shirley Franklin joined officials from University Community Development Corporation (UCDC) and Enterprise today to unveil the first of several affordable, energy efficient and healthy new homes for sale under the national Green Communities initiative. UCDC is the first developer in the nation to use the Green Communities funding to build “for sale” affordable, energy efficient single-family homes. Enterprise is providing $250,000 in funding to build houses with the additional “green” features that include water-conserving appliances and fixtures; energy efficient appliances and lighting; electric meters; water permeable walkways; and low VOC (volatile organic compound) paints and primers, adhesive and sealants, and composite wood. These energy saving measures reduce the homeowner’s energy costs and decrease the burden on the city’s sewer and sanitation systems. UCDC has built five affordable “green” houses as part of their University Estates project in the Booker T. Washington neighborhood on Atlanta’s Westside, and an additional 10 “green” homes are slated for construction and sale later this year. While other developers across the nation are building “greener” homes, UCDC is unique in that its homes are sold in the affordable price range of $150,000 to $180,000. At these prices, buyers with incomes at or below 80 percent of the area’s medium income of $72,000 can afford these homes and save on household energy costs as well. “As we see our city growing and the affordable housing market shrinking, it is rewarding to see this addition to our housing stock. I am delighted that UCDC and Enterprise have come together in Atlanta to fulfill a demand for affordable intown housing and to build them with smart, environmentally friendly features,” said Mayor Franklin. ---MORE--- Page 2-ucdc.greencommunities.NR Green Communities was launched over a year ago by Enterprise and the Natural Resource Defense with support from socially motivated partners such as The Home Depot Foundation with the ambitious goal of investing $555 million to build 8,500 affordable homes that promote health, conserve energy and natural resources, and provide easy access to jobs, schools and services. ʺThe Home Depot Foundation is excited to be one of the founding funders of the Green Communities initiative and supporting its goal of transforming the way we think about designing and building affordable, efficient and healthy housing,ʺ says Kelly Caffarelli, executive director of The Home Depot Foundation. ʺUniversity Estates is an excellent model of how we hope to see the building environment evolve.ʺ The response to Green Communities has been remarkable nationwide. In the first year alone, 77 developments, including University Estates, are underway in 21 states, meaning more than 4,300 green homes for low-income families and $179 million in financial support from Enterprise. This is more than doubled the production goals set out in Green Communities and 61 percent ahead of investment targets. “The goal of Green Communities is to transform the way Americans think about, locate, design and build affordable homes, and UCDC is providing a great example to other developers of how it can be done here in Atlanta,” said Terri Y. Montague, president of Enterprise Community Partners. There are 4,300 homes in the Green Communities development pipeline that will reduce costs and consumption compared to conventionally built homes. That is, • $1.5 million in energy savings per year (that’s $350 savings per household). • More than 5,000 tons in reduced greenhouse gas emissions per year (that’s 2,340 fewer pounds per household). • 30 million gallons in reduced water use per year (that’s 7,000 fewer gallons per household). It costs approximately $2,000 per house to meet the “green” criteria. Southface, a nonprofit environmental and energy conservation resource, partners with Enterprise to meet the requirements of the initiative. In addition, Classic Builders and Skyline Builders serve as construction partners on the University Estates project. The affordable “green” homes in University Estates are from 1,100 square feet to 1,600 square feet in size and have three or four bedrooms and two or two and a half bathrooms, as well as a kitchen and living and dining areas. “The Westside is going through a housing renaissance, and UCDC has been on the forefront of building and rehabilitating a quality mix of affordable and market rate housing in this community,” said Pete Hayley, executive director of UCDC. “With our Green Communities homes, we believe we are making the Westside an even more attractive place for homebuyers seeking to live intown.” --MORE-- Page 3-ucdc.greencommunities.NR University Community Development Corporation (UCDC) is a not-for-profit corporation that acquires, rehabilitates, constructs and facilitates the development of affordable housing for moderate and low-income families on Atlantaʹs Westside. UCDC concentrates its work in neighborhoods surrounding the world’s largest consortium of historically African American colleges and universities -- Clark Atlanta University, Interdenominational Theological Center, Morehouse College, Morehouse School of Medicine and Spellman College. For more information visit http://www.ucdc.aucenter.edu. Enterprise is a leading provider of development capital and expertise for creating decent, affordable homes in thriving communities. For more than two decades, Enterprise has pioneered neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested $6 billion in equity, grants and below-market loans and is currently investing in communities at a rate of close to $1 billion a year. Visit www.enterprisecommunity.org to learn more about Enterpriseʹs efforts to build communities and opportunity, and to meet some of the half a million people we have helped. ###
"green homes for sale"