Building Multifamily Apartments? Don’t Forget EV Chargers.

Cities and municipalities across the country continue to take measures encouraging EV adoption to reduce carbon emissions.

Last year, the State of Illinois passed a right-to-charge law that requires parking spots at new multiunit developments be wired to support EV charging infrastructure. And in 2022, the State of Vermont’s Agency of Commerce and Community Development established the Multiunit Dwelling Electric Vehicle Charging Grant Program to incentivize implementing EV charging stations in multi-unit housing.

What do these trends mean for developers of multifamily housing? What should developers consider before installing EV charging stations at their properties? In this post, we outline five tips for successful EV charger implementations on multifamily properties.

Installing EV Chargers at Multifamily Apartments

1. Plan Now, Save Later

Installing EV chargers at multifamily apartments is a forward-thinking investment that not only aligns with the growing trend towards sustainable living but also offers long-term financial benefits. By planning for the installation of EV chargers now, property developers can capitalize on several advantages. Providing charging infrastructure can significantly enhance the appeal of a property to potential tenants. This can lead to higher occupancy rates and potentially even allow for premium rental rates. By incorporating these chargers during the initial construction or renovation phase, developers can minimize retrofitting costs and disruptions later.

2. Research Equipment Providers

Identifying reputable and reliable suppliers ensures that the chargers installed will be of high quality and meet the evolving industry standards. It’s crucial to evaluate the track record of potential providers, looking for a history of successful installations and positive client feedback. Additionally, considering the compatibility of the equipment with various electric vehicle models is essential to cater to a broad range of tenants. Cost-effectiveness and scalability are also key factors to weigh, as a provider that offers competitive pricing and the flexibility to expand the charging infrastructure in the future will offer significant advantages. Moreover, examining warranty terms and after-sales service is crucial to ensure any maintenance or repair needs are promptly addressed.

3. Think Green: EV Chargers and LEED Certification

Incorporating EV chargers into a development plays a pivotal role in achieving LEED (Leadership in Energy and Environmental Design) certification. LEED, a widely recognized green building rating system, places a significant emphasis on sustainable transportation solutions. By installing EV chargers, developers demonstrate a commitment to reducing carbon emissions and promoting sustainable transportation options for residents. This move aligns with LEED’s emphasis on minimizing the environmental impact of buildings and promoting a healthier living environment.

4. Research Grants, Incentives, and Subsidies

Exploring available financial support from local, state, and federal governments can greatly offset initial investment costs. This might encompass grants for clean energy initiatives, tax incentives for sustainable practices, or subsidies specifically allocated for EV charging installations. Additionally, some regions offer rebates or discounts on equipment purchases, further reducing the overall expense. Researching these opportunities allows property developers to maximize their return on investment while contributing to a more sustainable future.

5. Assemble a Trusted EV Consulting Team

Establishing a trusted EV charging consulting team is a critical step in the successful integration of charging infrastructure within multifamily apartment developments. This team should comprise experts with a deep understanding of the evolving electric vehicle industry, including knowledge of charging technologies, regulatory requirements, and emerging trends. They should also possess a proven track record of successful implementations in similar settings. A well-rounded consulting team will be able to assess the specific needs of the development, considering factors like tenant demographics, parking configurations, and anticipated growth in electric vehicle adoption. Additionally, they should be adept at navigating local permitting and zoning requirements, ensuring a smooth and compliant installation process.

The integration of EV chargers into multifamily apartment developments represents a strategic and forward-looking investment. As electric vehicle adoption continues its upward trajectory, embracing this technology now not only positions developments at the forefront of a green revolution but also ensures long-term financial benefits and a competitive edge in the real estate market. With careful planning and strategic execution, the integration of EV chargers stands as a testament to a developer’s dedication to both environmental stewardship and forward-thinking urban living.

Ready to get started? Ramaker’s EV Charging team is here to help you every step of the way.