Green Canopy and Habitat for Humanity Combine Strengths to Deliver Affordable and Sustainable Housing

SEATTLE, Washington (May 6, 2021) - Green Canopy and Habitat for Humanity Seattle – King County (Habitat) are pleased to announce a partnership to design a 17-unit affordable multifamily housing development in the Capitol Hill neighborhood of Seattle. The 4-star Built Green project, located near Cal Anderson Park, features one- and two-bedroom units to be sold to households making at or below 80 percent area median income. The collaboration will bridge affordability and sustainability and fill a gap in the housing market for low-income individuals, couples, and smaller families.

Combining a land trust model with permanent affordability requirements, Habitat lowers barriers to homeownership. Habitat’s homeownership model creates opportunities for those who may not otherwise have access to owning a home and enables them to build equity and obtain security and stability. In Seattle, population growth, low inventory and market price appreciations have prevented first-time homebuyers from being able to afford to live within the urban center and create wealth through equity in ownership.

“We have identified a significant gap in the housing market for those who can’t afford to build equity in the city that they live and work in,” said Patrick Sullivan, Director of Real Estate Development at Habitat. “Typically, affordable housing options are located outside of city centers and further from jobs and other amenities. We are excited to offer these homes to hard-working and deserving people who would otherwise be priced out of the area.”

Through this partnership, Green Canopy and Habitat for Humanity serve as a model for aligning for-profit and nonprofit organizations to develop market-rate land, while accelerating access to affordable, sustainable homes.

“We believe the partnership between Habitat and Green Canopy will set a new standard for homebuilding,” said Brett D’Antonio, CEO of Habitat for Humanity Seattle-King County. “Through private non-profit partnerships we are able to deliver more affordable housing units than we could alone.”

Known for its innovative, highly energy efficient urban infill homes in Seattle and Portland, Green Canopy specializes in unparalleled cost control and project management without compromising on sustainability.

“It is oftentimes a trade-off between sustainable or affordable when it comes to housing,” said Sam Lai, Green Canopy’s cofounder. “We are passionate about unlocking the potential impact of combining our expertise in green building and cost control with Habitat’s expertise in offering homes at a price point that increases accessibility.”

Green Canopy’s stringent green building standards result in homes that are not only better for the environment, but also better for residents’ health. Homeowner’s indoor air quality is improved by using all-electric appliances, low volatile organic compounds (VOCs) products and materials, and through systems like the Energy Recovery Ventilators (ERVs), which bring fresh, filtered air into the homes. Furthermore, the end product simply costs less to operate on a monthly basis than a comparable code-built home.

“Providing all-electric, sustainable, and healthy homes at affordable price points provides a better alternative to the current paradigm of housing,” said Susan Fairchild, Director of Impact at Green Canopy. “Through partnership and collaboration, we believe we can democratize sustainable homes so in time, people at every income level can live in more sustainable and healthy homes.”

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About Green Canopy: Green Canopy is an award-winning urban infill developer and homebuilder specializing in high performing, deep green, all-electric healthy homes. Their mission is to build relationships, businesses, and homes that help regenerate communities and environments. The team at Green Canopy offers development and general contracting services to third party investors, developers, and investment property owners.

About Habitat for Humanity Seattle – King County: Habitat SKC is dedicated to eliminating substandard housing locally and worldwide through constructing, renovating and preserving homes, advocating for fair and just housing policies, and providing training and access to resources to help families improve their shelter conditions. Habitat is founded on the conviction that every man, woman, and child should have a simple, durable place to live in dignity and safety, and that decent shelter in decent communities should be a matter of conscience and action for all.

For more information, please contact:
Susan Fairchild, Green Canopy Director of Impact and Investor Relations
susan@greencanopynode.com

Sam Lai, Green Canopy Cofounder
developmentservices@greencanopynode.com