Hampton Manor Taylor
A Key Contributor to Wayne County’s $100 Million PACE Financing Milestone!
Hampton Manor Taylor, located in Wayne County, is a newly constructed assisted living and memory care community that spans 60,684 square feet on a 6.14-acre site. The facility features 65 assisted living beds and 17 memory care beds, designed to emphasize comfort and energy efficiency.
PACE was used to finance Hampton Manor Taylor’s high-performance building envelope, advanced windows, state-of-the-art HVAC systems, efficient plumbing, and modern lighting solutions. This innovative approach enhances the building’s sustainability and aligns with contemporary standards for eco-friendly living spaces.
Hampton Manor Taylor plays a pivotal role in achieving a significant milestone for Wayne County’s PACE program, which has now surpassed $100 million in PACE financing for energy-efficient projects. This landmark achievement reflects Wayne County’s successful utilization of the PACE program to mobilize private capital for the development of superior, eco-friendly buildings.
Project Quick Stats
- PACE District: Wayne County
- Property Owner: Taylor Investors Land Holding
- PACE Contractor: G-Energy
- PACE lender: Bayview PACE
- Amount Financed: $4,331,750
- Total Savings: $3,166,025
- Energy Conservation Measures:
- HVAC
- LED Lighting
- Windows
- Building Envelope
- Plumbing
- Project Term: 25 years
Impact: The PACE project at Hampton Manor Taylor is expected to save 3,678,725 kWh of electricity, 4,659 metric tons of CO2, and 17,082,625 gallons of water over the course 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.
Project Partners
PACE Financing
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.
Contact Us
info@leanandgreenmi.com
313.444.1474
500 Temple Street #6270
Detroit, Michigan 48201
