Casa Feliz, an apartment building in San Jose, Calif., was built with environmentally friendly materials, has furniture made from sustainably farmed wood and efficient appliances. But the building wasn’t built for trendy professionals; it was designed for families who earn less than 35 percent of San Jose’s $103,500 median income.
According to the Wall Street Journal, Casa Feliz is part of a growing number of green affordable housing units. Tax credits and aggressive cost-cutting have made eco-friendly buildings more attractive to private capital and investments.
Dana Bourland, a vice president with Enterprise Community Partners Inc., said that not only are green buildings better for the environment, they make more financial sense since they come with lower energy bills and typically have lower tenant-turnover rates.