Romulus Self Storage

Continued PACE Utilization in Wayne County!

Romulus Self Storage is the 28th PACE project completed in Wayne County. Set on 5.16 acres, the project will feature seven mini-storage buildings encompassing 57,603 square feet of land, with a mix of 475 rentable units. A notable 298 units will be climate-controlled, catering to the growing demand for premium, temperature-regulated storage solutions. The facility also includes a dedicated office space to manage operations efficiently.

Leveraging PACE financing, Romulus Self Storage will integrate energy-efficient technologies throughout its construction. This includes enhancements to the building envelope, high-performance windows, state-of-the-art HVAC systems, water-saving plumbing fixtures, and energy-efficient lighting. These upgrades exceed current building codes and ensure long-term operational savings and a reduced environmental footprint.

By focusing on energy efficiency and high-quality units, the facility offers great value for future tenants, showing a strong commitment to being eco-friendly and providing top-notch service. Congratulations to all parties involved!

September 2024

Project Quick Stats

PACE District: Wayne County
Property Owner: HSS Romulus Northline Rd, LLC
PACE Contractor: G-Energy
PACE lender: PACE Loan Group
Amount Financed: $1,500,000
Total Savings: $1,440,400
Energy Conservation Measures:

HVAC
Building Envelope
Windows
LED Lighting
Plumbing

Project Term: 25 years

Impact: The PACE project at Romulus Self Storage is expected to save 3,308,450 kWh of electricity, 3,722 metric tons of CO2, and 1 ,704,175 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.

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.

← Return to Case Studies Download PDF