Belt Line Center
The Michigan PACE market's first green roof project
Belt Line Center shows that when a property is in need of a roof replacement, a green roof can more than pay for itself! Belt Line Center is the first building in Michigan to use PACE to finance a green roof.
Located on the site of Detroit’s future Beltline Greenway, the green roof project at this Albert Kahn building will make for an excellent addition to the Belt Line Center’s growing community of artisans and creative entrepreneurs.
In addition to the 16,800 sq. ft. vegetated green roof, the project’s rain garden will provide infiltration of any stormwater runoff that is not captured by the green roof, supplying a secondary measure of stormwater management. The Belt Line Center PACE project showcases a cost-effective way to reduce energy use and control water runoff, while simultaneously expanding the longevity of a building’s rooftop.
Project Quick Stats
- Pace District: Wayne County
- Property Owner: Belt Line Center, LLC
- PACE Contractor: Inhabitect, LLC
- PACE lender: CounterpointeSRE
- Amount Financed: $1,035,185
- Total Savings: $1,079,375
- Energy Conservation Measures:
- Green Roof
- Rain Garden
- Project Term: 20 years
Impact: This project will result in a reduction in CO2 emissions equivalent to taking 100 cars off the road each year, or eliminating 462 metric tons of CO2 from the atmosphere.
Lean & Green Michigan
Lean & Green MichiganTM helps commercial, industrial and multi-family property owners take advantage of PACE to finance energy projects, eliminate waste and save money through long-term financing solutions that make energy projects profitable. Lean & Green MichiganTM is a public-private partnership that works with local governments, contractors, property owners, and lenders to invigorate Michigan’s PACE statute with a market-based approach to energy finance and economic development.
Commercial building owners spend $200 billion per year on utilities, yet 30% of this is waste. The energy projects that could make these properties efficient often require significant up-front capital and take years to achieve profitability. Commercial loans typically have a tenor of 3-5 years, making the annual repayment greater than the energy savings. PACE changes all this by allowing property owners to finance energy efficiency and renewable energy projects via a property tax special assessment.
Wayne County's elected leaders created a countywide PACE district in December 2013 by joining the statewide Lean & Green Michigan PACE program. Since the County will enforce the PACE assessment just like any other property tax obligation, lenders feel secure in providing fixed-interest loans with terms of up to 25 years. The result is 100% up front financing to facilitate energy-saving projects. In addition, these projects create good jobs, and communities upgrade their building stock, increasing the local tax base over time.