Press Release
Contact:
Kimberly Johnston
608.729.6900 or 608.516.5653
[email protected]
DDL Holdings Uses PACE Financing for Energy Efficiency Updates in 95-year-old Building
Madison, WI (September 23, 2019) – What’s old is new again. Through PACE Wisconsin and PACE financing, DDL Holdings was able to incorporate $800,000 in PACE financing to help renovate the former Larsen Canning Company building in the Green Bay, Wisconsin rail yard district.
The 95-year-old building has had many commercial uses but is about to reused for a mixed-use redevelopment. Commercial office space, affordable condos, retail and green space now have taken shape. The project is part of a larger development that was purchased in February of 2014 and includes the Larsen Canning Company buildings which have been vacant for over a decade. The original buildings were remodeled into a mixed-use development that includes retail and office spaces. The development is part of a multi-phase development and restoration.
DDL Holdings incorporated $800,000 of C-PACE financing into the overall project cost, which will cover: building envelope, windows, HVAC, LED lighting and hot water Improvements. Over the life of these energy efficiency improvements, the building owner will recover the cost of the investment through energy savings. The projected average annual cost savings is $82,915 from the updates.
PACE Wisconsin works with communities across the state to empower building owners to save energy and money, communities to create new jobs, and local economies to flourish—all without any taxpayer assistance. “PACE financing is a great tool to achieve both financial and sustainability goals of development projects,” commented Jason Stringer, Program Administrator for PACE Wisconsin. “PACE financing incentivizes developers to make investments in energy efficiency improvements by lowering their cost of capital and enhancing their return on investment.”
About PACE Wisconsin
Commercial Property Assessed Clean Energy (C-PACE) drives economic development by authorizing municipalities and counties to work with private sector lenders to provide upfront financing—usually for 100 percent of the cost of energy-saving improvements—to property owners for qualified projects. PACE Wisconsin offers an open-market solution for building owners in participating Wisconsin communities. PACE Wisconsin is administered by Madison-based nonprofit Slipstream. Interested communities should contact the administrator at [email protected] or view more information at www.pacewi.org.
Kimberly Johnston
608.729.6900 or 608.516.5653
[email protected]
DDL Holdings Uses PACE Financing for Energy Efficiency Updates in 95-year-old Building
Madison, WI (September 23, 2019) – What’s old is new again. Through PACE Wisconsin and PACE financing, DDL Holdings was able to incorporate $800,000 in PACE financing to help renovate the former Larsen Canning Company building in the Green Bay, Wisconsin rail yard district.
The 95-year-old building has had many commercial uses but is about to reused for a mixed-use redevelopment. Commercial office space, affordable condos, retail and green space now have taken shape. The project is part of a larger development that was purchased in February of 2014 and includes the Larsen Canning Company buildings which have been vacant for over a decade. The original buildings were remodeled into a mixed-use development that includes retail and office spaces. The development is part of a multi-phase development and restoration.
DDL Holdings incorporated $800,000 of C-PACE financing into the overall project cost, which will cover: building envelope, windows, HVAC, LED lighting and hot water Improvements. Over the life of these energy efficiency improvements, the building owner will recover the cost of the investment through energy savings. The projected average annual cost savings is $82,915 from the updates.
PACE Wisconsin works with communities across the state to empower building owners to save energy and money, communities to create new jobs, and local economies to flourish—all without any taxpayer assistance. “PACE financing is a great tool to achieve both financial and sustainability goals of development projects,” commented Jason Stringer, Program Administrator for PACE Wisconsin. “PACE financing incentivizes developers to make investments in energy efficiency improvements by lowering their cost of capital and enhancing their return on investment.”
About PACE Wisconsin
Commercial Property Assessed Clean Energy (C-PACE) drives economic development by authorizing municipalities and counties to work with private sector lenders to provide upfront financing—usually for 100 percent of the cost of energy-saving improvements—to property owners for qualified projects. PACE Wisconsin offers an open-market solution for building owners in participating Wisconsin communities. PACE Wisconsin is administered by Madison-based nonprofit Slipstream. Interested communities should contact the administrator at [email protected] or view more information at www.pacewi.org.