The Barry County PACE Program is The Riverwalk Lofts development consists of three newly constructed multifamily buildings adding a total of 135 residential units, with an additional building serving as a commercial market. The development revitalizes a vacant parcel along the Thornapple River which formerly housed the Hastings Table Company and Royal Coach Company warehouse. Barry County and Lean & Green Michigan facilitated $4.39 million in PACE financing from Peachtree Group to help fund energy-related improvements to the development including upgrades to the building envelope, mechanical and HVAC systems, lighting, domestic water heating, and water conservation components. In year one alone, these improvements are expected to save $155,469.01 in utility costs. The Hastings Riverwalk Lofts is a perfect example of how PACE financing can use public-private partnership to deliver results that are not only mutually beneficial for the property owner and local community, but that benefit us all by reducing carbon emissions and working towards a more sustainable future. The PACE project at Hastings River Walk Lofts is expected to save 21,009,325 kWh of electricity or 14,115 metric tons of CO2 over the 25 year term. That’s the equivalent of eliminating the carbon impact of 1,588,290 gallons of gasoline consumed!A First! Barry County Welcomes Inaugural PACE Project
now home to one of Michigan’s most substantial multifamily housing redevelopments using Property Assessed Clean Energy (PACE) financing: the Hastings Riverwalk Lofts. Located at 420 East Mill Street, the project brings new residential and commercial space to Hastings and serves as the County’s very first PACE project!
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