Lean & Green Michigan™ helps commercial, industrial, multifamily and nonprofit property owners finance energy efficiency and renewable energy projects that are profitable for all parties – property owners, contractors, financial institutions and local governments.
Before RKJ Hotel Management, LLC acquired a shuttered hotel near Detroit’s major airport in 2015, the City of Romulus was worried it would never reopen. Just before New Year’s Day this year, everything changed. RKJ reopened the hotel under the Radisson flag, and the company has been upgrading the property from stem to stern. PACE financing has been a big part of the Radisson’s turnaround story. On October 19, the Radisson Hotel at the Detroit airport closed the largest PACE project in Michigan to date to cover comprehensive upgrades to its water and energy systems. Twain Financial provided $2,121,278.80 in financing through the Wayne County Lean & Green Michigan PACE program. Owner Jeff Katofsky is making the Radisson and its 272 rooms a model of sustainability. Using an energy audit from G-Energy, expert PACE guidance from RAHILL Capital, and 100% financing from Twain Financial, Michigan’s first PACE project at a hotel was also one of its most comprehensive. The “clean energy makeover” included LED lights, a reflective roof, low-flow faucets and toilets, HVAC equipment and controls, pool dehumidification and more.
Check out the Radisson case study here.
On August 21, Wayne County Executive Warren C. Evans announced the County’s first PACE project – and it’s a doozy. The Whitney mansion in Midtown Detroit, symbol of 19th Century opulence and home to a fine restaurant and the atmospheric Ghostbar, is set to receive a radical energy makeover. Petros PACE Finance is funding the project 100%, so there is no up-front cost for Whitney owner Bud Liebler. The $863,130 project, which is being coordinated by Newman Consulting Group, includes super efficient HVAC equipment, LED lights throughout, building control systems, storm enclosures on over 200 windows, and efficient new ranges in the kitchen. It will save the business a total of $2,097,327 over its 20-year term – or $470,560 net of all payments (including interest and closing costs). That translates to an average net positive cash flow of $23,538 every year for 20 years. The improvements will reduce the facility’s carbon footprint by 232 metric tons annually.
Read the full case study here.
On July 28, the Peleman family, owners of the Garfield Metro Building, became the first property owner to use PACE financing in Macomb County. The PACE-financed upgrades are slated to break ground in August 2017 and will include efficient LED lighting, high efficiency heating and cooling systems, and system controls. BASS Controls and Bumler Mechanical identified the PACE opportunity for the Pelemans and partnered with Newman Consulting Group -- a rapidly emerging leader in the PACE world responsible for PACE projects at Delta Business Center and Powers Distrbuting -- to develop the PACE project. BlueColt Lighting provided the lighting solution for the project. The improvements will result in $733,133 in total savings, with a net savings of $254,725 over 20 years. Through PACE, the Pelemans are not only saving money and eliminating energy waste, but also setting a sustainable example for small buildings across Macomb County and Michigan.
Read the full case study here.