Gardner Capital's Upward Mobility Fund to Provide Funding for EV Charging Stations at Affordable Housing Development in Houston
Gardner Capital, a Dallas based private equity firm and alternative investment platform specializing in multifamily housing and renewable energy development and investment, announced its new multi-family housing complex in Sugar Land, Texas, Provision at West Belflort, has secured a funding commitment from the GCRE Upward Mobility Fund to install an on-site solar energy system as well as EV Charging stations that will provide tenants with significantly discounted charging rates – delivering real savings to families. The funding commitment is a part of Gardner Capital's sustainable energy commitment and the commitment from the Upward Mobility Fund to promote programs that deliver real and meaningful savings to families and seniors. The GCRE Upward Mobility Fund is part of Gardner Capital's Alternative Investments Platform, which provides funding for projects promoting clean energy for multi-family housing or upward mobility.
"Gardner Capital will be providing West Bellfort residents with convenient access to EV charging stations at extremely low prices – the additional funding allowing us to go a bit further and offer completely free charging for qualified tenants for at least the next two years," said Michael Gardner, Founder of the GCRE Upward Mobility Fund and CEO of Gardner Capital. "Promoting EV adoption, while delivering real savings to our tenants is the core of why we launched the GCRE Upward Mobility Fund in 2020 and we will continue to develop projects and fund programs that deliver real economic value to families and seniors across Texas."
Solar energy is the fastest-growing energy source in the United States, according to the Center for Climate and Energy Solutions. However, its use in multi-family housing generally remains low. With its Alternative Investments Fund Platform, Gardner Capital aims to change that with plans to deploy up to $500,000 annually to expand access to clean energy with grants and soft loans to both individuals and businesses submitting innovative proposals.
"This funding commitment is a benefit for everyone involved. It will expand clean energy access for residents while reducing energy bills and also offer significant EV charging savings for current and future residents" said Tiffany Hoang, Senior Vice President of Gardner Capital's CRM Group, which will oversee deployment of solar energy systems and EV charging stations for the Gardner Capital Multifamily Portfolio. "We are thrilled to bring increased access to EV Charging with significant savings for tenants across Texas."
Applicants can apply for funding from the GCRE Upward Mobility Fund through the Alternative Investments Fund on Gardner Capital's website; funding is capped at $25,000 for any one specific proposal (subject to waiver for special considerations). All proposals that focus on increasing access to, or adoption of, renewable energy (or related projects) will be considered with a preference for proposals that are also focused on serving low to moderate-income families or other underserved populations and communities.
Located at 13701 W Bellfort Boulevard in Sugar Land, Provision at West Belfort is a multi-family community, providing affordable housing for families in the Houston Metro Area. In addition to the solar energy system, the additional funding commitment from the GCRE Upward Mobility Fund will allow for deeply discounted charging for electric vehicles and will have an initial pilot program period where charging will be offered to qualified tenants for free – at no cost to tenants – delivering substantial savings potential for families that choose to utilize electric vehicles. Construction for the added amenities is expected to be completed in early 2023.
Gardner Capital | www.gardnercapital.com
