BUILDING MEASURES
30kW solar system, Efficient HVAC systems, Heat recovery system, LED lighting, Energy Star appliances, Low-flow water fixtures
DC PACE
Phyllis Wheatley YWCA
Youth Center
Property Type
$700,000
Approved PACE Financing
$7,000
Annual Net Savings
20 Years
Term
Amalgamated Bank
Lender
The Challenge
The YWCA was constructed in 1920, and provides 84 rental units to low-income and vulnerable women. The building was in urgent need of upgrades to preserve local affordable housing. Local DC real estate developer Dantes Partners was charged with redeveloping the property.The Solution
Dantes Partners worked with the DC PACE program to integrate PACE into a $17 million capital stack with eight other sources of capital. The project integrated Solar Renewable Energy Certificates (SREC's) from the installed solar system, as well as Low Income Housing Tax Credit (LIHTC) investment, and marked the first use of PACE financing for a U.S. HUD assisted mixed-finance public housing property. Improvements are expected to reduce energy use by 24% and water use by 47%.Download the Case Study