Cambridge Court Apartments: A USDA PACE First

Cambridge Court is a small apartment complex in Greenville, Michigan. Owner PK Housing has several dozen such properties across the state. Until now, PK could rarely justify making clean energy upgrades because of prohibitive upfront costs, even though inefficient buildings were wasting energy and money. PACE financing changed all that. At Cambridge Court, PK Housing worked with Parker-Arntz, Petros PACE Finance, and Levin Energy Partners to add a 20kW solar system, LED lighting, low-flow plumbing fixtures, high-efficiency appliances, and upgrades to the heating and cooling systems.

Cambridge Court was the first PACE project in West Michigan, the first multifamily PACE project statewide, the first property in the nation to receive U.S. Department of Agriculture approval for PACE financing – and one of the first to combine PACE with a Rural Energy for America Program (REAP) grant. The USDA’s Rural Development staff immediately grasped the power of PACE to help transform affordable housing to benefit property owner, tenant, community, and planet. In this case, the project achieves 40% reductions in electricity and natural gas consumption, a 29% reduction in water use, saves tenants on utility bills, updates an important community asset, and eliminates significant carbon pollution to help Michigan achieve its energy goals.