MARKET RATE MULTIFAMILY

MARKET RATE MULTIFAMILY EFFICIENCY

THE CHALLENGE

A family-owned real estate company founded more than 50 years ago now operates a portfolio of apartment homes in Northwest Washington D.C., and the Maryland communities of Bethesda and Chevy Chase. The property owner wanted to make upgrades to a property in need of new hot water boilers, hot water heaters, storage tanks and distribution pumps.

THE SOLUTION

The property owner worked with Greenworks and the DC PACE program to finance new boiler and hot water heater replacements. The new equipment will save an estimated 3952 therms of natural gas, $100,900 in lifetime energy savings, $21,000 in lifetime O&M savings, and over $500,000 of avoided capital costs for the current system.

PROPERTY TYPE

Multifamily

BUILDING MEASURES

Boilers, hot water heaters, distribution pumps, water storage tanks.

$530,000

Approved PACE Financing

20 YEARS

Term

GREENWORKS LENDING

Lender