Climate & Resiliency Offers Tangible Benefits for Residents and Investors

Robert Sheppard is the founder and managing partner of Vital Housing, an innovative investment management company focused on preserving and decarbonizing existing affordable housing through acquisition and sustainable rehabilitation. 

What are the key climate & resiliency initiatives your firm is working on? 

At Vital Housing, climate & resiliency are long-term commitments that begin at acquisition and continue through the life of the property. We aim to improve environmental performance in ways that work with the financial realities of affordable housing. The outcome: tangible benefits for both residents and investors. 

We focus on measures that reduce operating costs, improve habitability, and support long-term affordability. At Courtside Apartments in Olympia, Washington, we used utility rebates to install ductless mini-splits in every unit. The upgrade didn’t just lower tenants’ energy use. It brought air conditioning into homes that hadn’t had it before, offering comfort during extreme heat and providing a practical resiliency feature. Because of the available rebate, the project was both cost-efficient and high-impact. Residents now enjoy a better living experience, and the overall building energy use intensity (EUI) was reduced. 

We also pay close attention to risk. Upgrades that reduce exposure to rising utility costs and insurance premiums help stabilize operations and preserve affordability over time. We actively pursue incentives, grants, and green financing tools to make deeper retrofits financially viable without compromising the project’s performance. 

For us, sustainability only works if it makes life better for residents and stays financially practical. That is the standard we apply to every decision about how a property is managed and improved. 

How does incorporating climate & resiliency into asset management affect multifamily performance? 

Incorporating climate & resiliency directly enhances the performance and stability of our assets. By prioritizing these initiatives, we see reduced operational costs through decreased energy and water use, which directly improves NOI and long-term asset value. Furthermore, properties with strong resiliency measures attract greater investor interest, provide more predictable financial performance, and offer safer, healthier environments for residents – leading to lower turnover and higher occupancy rates. 

In which geographical markets are you noticing that the focus on climate & resiliency is leading to greater institutional investment in affordable and workforce housing?  

Our work is rooted in the Pacific Northwest, where we’ve developed deep relationships and on-the-ground expertise rather than tracking trends elsewhere. In Washington and Oregon, we’re seeing growing momentum as climate goals and housing policy begin to align in practical, investable ways. 

State and local programs focused on decarbonization, long-term affordability, and energy performance are making it easier for capital to support preservation while improving resiliency. Staying focused on this region allows us to build lasting partnerships and tailor our approach to the realities of local policy and community priorities. That’s been key to moving both our climate and housing goals forward together. 

Anything else to add? 

The affordable housing sector faces unique challenges, but addressing climate & resiliency is not just good stewardship – it’s fundamental to the long-term viability of our communities. At Vital Housing, we remain committed to collaborating with industry partners, policymakers, and communities to drive impactful solutions that deliver environmental, financial, and social benefits for years to come.