Capital Needs Assessments, also called Property Condition Assessments or Integrated Physical Needs Assessments, are a core part of building management and often required by public or private lenders in order for a renovation project or other building transaction to obtain financing. Many funders now require applicants to secure a broader, “integrated” assessment of building conditions that will identify inefficient building systems and health and safety hazards, so that appropriate improvements to address these conditions can be incorporated into project work scopes and budgets during early planning stages.
AEA is a qualified IPNA provider on the NYC Housing Development Corporation’s list (used also by the State for its projects in New York), and is a registered Needs Assessor firm with the US Housing Department of Housing and Urban Development (HUD) CNA e-Tool for the preparation, submission, review and approval of capital needs assessments for the Office of Multifamily Housing programs.
AEA’s property assessment team performs Integrated Physical Needs Assessments for projects seeking funding under the City’s Green Housing Preservation Program or NYS Homes and Community Renewal. We follow ASTM E2018-15 Standard Guide for Property Condition Assessments. Since 2017, we have completed IPNAs of 78 regulated multifamily buildings containing nearly 3,000 units. We have conducted CNAs of 984 units of public housing as a NYCHA Due Diligence subcontractor for RAD conversions in NYC, and have performed comprehensive building assessments for NYSHCR’s Weatherization Preservation Plus program.