St. Hilda’s Towers Inc. underwent a deep energy efficiency retrofit to improve the property’s efficiency, resilience, and affordability—and did so in a cost-effective, replicable manner for other high-rise multifamily assets in cold-weather climates. The project investment history is unique in that the owner had limited reserves and did not contribute to the retrofit at the […]
When complete, this ground up development in the City of Van Wert, OH, will have 56,000 square feet of space for 75 beds to serve senior citizens and memory care needs. The project was developed on an outparcel within an established retail center just off a highway interchange. This Deal Profile focuses on the process of placing and obtaining Property Assessed Clean Energy (PACE) financing as well as the intricate partnerships required.
Encore is a mixed-use, mixed-income redevelopment of what had been public housing just north of downtown Tampa, Florida, developed by a partnership between a housing authority and a bank-owned community development corporation. Encore currently comprises four apartment buildings with a total of 662 units of housing, 559 of which are affordable to seniors and family households with low incomes. At full buildout, the LEED for Neighborhood Development Gold–rated community will have up to 1,513 housing units, plus 180,000 square feet of office space, 200 hotel keys, and a 36,000-square-foot grocery on its 12 city blocks. Over eight years, the $425 million investment will create 5,000 construction jobs and 1,000 permanent jobs on a site that previously supported only 18 jobs. Encore uses innovative and efficient districtwide approaches for stormwater management and cooling.
The Elmpark Green Urban Quarter set out to create a new type of urban environment in Ireland, integrating an energy-balanced piece of urban landscape into the existing natural surroundings. Radora Developments led this innovative €400 million (US$560 million) project by purchasing a large parcel of land on the outskirts of Dublin owned by the Sisters of Charity, whose convent remains next to the site, and creating a large-scale, high-density, mixed-use development with the latest sustainable technologies.
The result of a partnership between nonprofit developer Mid-Peninsula Housing Coalition and the Milpitas Redevelopment Agency, DeVries Place is a housing project for seniors that has become the cornerstone of the city’s downtown revitalization effort. Situated on a historic yet underused site in the town’s center, DeVries Place provides 103 affordable rental homes for low- to very-low-income seniors. Helping restore the character of the town’s Main Street by incorporating a historic home, the apartments are within walking distance of the newly renovated municipal library and a soon-to-be-completed modern medical center.