Greenworks provided $13M in C-PACE capital to the total $64M development project cost. The property will be utilizing several energy efficient measures financed by C-PACE including roofing, windows, HVAC, plug load controls, smart thermostats, elevator systems and low-flow fixtures which are estimated to save the property nearly $40M over the 25-year term of the financing.
The Exchange is a new construction development project in Detroit’s Greektown district that will be a state-of-the-art, 16-story mixed use commercial and multifamily property.
“I was delighted to bring my C-PACE experience to Exchange enabling it to become an important part of the City’s continued redevelopment.”
– Mark J. Bennett, MJBennett PLLC
“We are pleased to see that Wayne County continues to exhibit some of the largest C-PACE projects in the state. The Exchange shows that PACE is a game-changing economic development tool for the County’s real estate market.”
– Warren C. Evans, Wayne County Executive