DC Green Bank
Update
03/21/23
DC PACE Program And Stonehill PACE Announce Closing On Nearly $5 Million Financing For Residential Condominium Property
The DC PACE Program and Stonehill PACE program are proud to announce the successful closing of nearly $5 million in financing to deliver energy efficiency and renewable energy upgrades for a 13-story residential condominium building in Ward 6. The financing administered through the DC PACE program is poised to generate substantial environmental benefits for both the building’s residents and the larger community. The estimated total energy cost savings of this project will be $6.7 million over 30 years, with annual electricity savings of 1.4 million kWh and 3.4 million gallons of annual water savings.
“We are thrilled to have joined forces with Stonehill PACE to finance these essential energy upgrades,” said Ronald Hobson, DC PACE Program Manager. “This partnership showcases the significant benefits that the PACE financing program can offer not only to the community and residents but also to property owners and developers. Stonehill’s use of PACE financing is a prime example of how we can work together to achieve our clean energy goals and make a positive impact on the environment.”
“Stonehill PACE is proud to partner with the DC PACE Program to finance energy upgrades utilizing the PACE program,” said Jared Schlosser, Stonehill Senior Vice President and Head of Stonehill PACE. “This collaboration allows us to leverage lower-cost financing options and meet the increasing demand for clean energy solutions more efficiently. As we strive towards a cleaner future, we believe this is an exciting time for the growth of green finance. We look forward to continuing our partnership with DC Green Bank to positively impact the environment and community.”
