The Navigator Loan finances pre-development work necessary to achieve green, high-performing, resilient buildings. Navigator provides funding to assess, design, and scope energy and resiliency upgrades in affordable and market-rate multifamily housing and in nonprofit and municipal owned buildings.
Navigator can be used for new construction and existing buildings. With a progressive interest rate structure, this flexible loan incentivizes the design of high-performance buildings and affordable housing.
Who is eligible?
Affordable and market-rate residential properties with five or more units
Co-ops, condominiums, rental properties, and affordable housing, including mixed use properties
Buildings owned by nonprofits and municipalities, including community centers and houses of worship
What are eligible uses?
For projects targeting high-performance building standards, like Passive House, all pre-development costs are eligible, including legal, environmental, and permit fees.
For projects seeking to assess, design, and plan their approach, the following pre-development costs are eligible:
- Energy benchmarking, opportunity assessments, and audits
- Green/integrated physical needs assessments
- Green charettes
- Assessments of energy-related health and safety and resiliency issues
- Design, engineering, and bidding work
- Costs to secure project financing for the improvements
- Other reasonable expenses needed to get your energy project designed and funded
Rates: As low as 5.50% based on property affordability and green building design goals
Loan term: due in 24 months or upon project financing
Fee: 2% closing fee, which may be financed into the loan
*Terms and rates subject to change
More details here:
Start the application here:
To learn more, contact an IPC representative by completing our contact us form.