Hampton Manor of Macomb
Macomb County senior living facility incorporates energy and water efficiency
The Hampton Manor of Macomb is a senior housing community situated on a 6.16 acre site. The development will include 54,649 square feet of building, with 78 total one bed units. Of the total project, 58 units will be assisted living, and 20 units will be dedicated to memory care.
The development team of Hampton Manor of Macomb with the help of G-Energy, and funding from PACE Loan Group, will utilize over 5 million dollars in PACE financing to build above code and to a higher efficiency. The implementation of improvements to the building envelope, windows, HVAC, plumbing and lighting, will create a sustainable and comfortable environment for future residents.
Congratulations to the Hampton Manor of Macomb PACE project, Macomb County, and all those who have made Michigan the thriving PACE market that we see today!
Project Quick Stats
- PACE District: Macomb County
- Property Owner: Investors of Macomb, LLC
- PACE Contractor: G-Energy
- PACE lender: PACE Loan Group
- Amount Financed: $5,487,000
- Net Savings: $3,322,300
- Energy Conservation Measures:
- LED Lighting and Controls
- Building Envelope
- Project Term: 25 years
Impact: The Hampton Manor of Macomb PACE project is expected to save 2,930,200 kWh of electricity, 18,634,325 gallons of water, and 1,914 metric tons of CO2 over the life of the project!
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.
Macomb County's elected leaders created a countywide PACE district in October 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.