Rochester Avon

Continued Development in Oakland County!

Rochester Avon is a cutting-edge commercial building in Oakland County, using PACE financing to enhance energy efficiency. The new two-story building will house retail tenants on the first floor and office spaces on the second. Located on a busy intersection in Rochester Hills, this mixed-use property will serve as a point of convenience to the community.

PACE Loan Group is providing over $1.1 million dollars in PACE financing. The funding will support improvements to the building’s envelope, windows, HVAC systems, plumbing, and lighting. These enhancements are designed to exceed standard efficiency requirements, setting a high bar for future commercial developments in the area.

By integrating PACE financing, Rochester Avon highlights dedication to fostering both environmental stewardship and economic growth. Congratulations to all parties involved, we can’t wait to see what you do next!

June 2024

Project Quick Stats

PACE District: Oakland County
Property Owner: Rochester Avon Partners, LLC
PACE Contractor: G-Energy
PACE lender: PACE Loan Group
Amount Financed: $1,100,000
Total Savings: $1,084,357
Energy Conservation Measures:

HVAC
Building Envelope
Windows
LED Lighting
Plumbing

Project Term: 25 years

Impact: The PACE project at Rochester Avon is expected to save 2,303,925 kWh of electricity, 2,800 metric tons of CO2, and 4,030,150 gallons of water over the course of the project!

Lean & Green Michigan

Lean & Green Michigan^TM 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 Michigan^TM 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.

Oakland County's elected leaders created a countywide PACE district in November 2016 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.

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