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Deal Spotlight

Lakeside Towers

$ 0
Annual cost savings
0 %
Projected energy savings
0 %
Projected GHG savings

The Building: Lakeside Towers

Building type
Affordable Multifamily

Building size
1 building
336,200 square feet
313 units

Year built

Bayside, NY

Project type

NYCEEC loan product

11 years

Closing date
September 2018

The Project

The building entered into a power purchase agreement (PPA) with Strategic Finance Group to purchase electrical and thermal generation from a 125 kW Tecogen cogeneration system. NYCEEC provided a $420,000 loan to a special purpose entity owned by Strategic Finance Group to purchase and install the cogeneration system and associated equipment. This loan with a $201,000 NYSERDA incentive financed the majority of the project cost.

Total project cost




Other sources




Annual savings


Simple payback period

8.1 years

The Results

NYCEEC’s financing will reduce energy waste, save the building money and provide residents with significant resiliency benefits. It will provide for energy savings, increased predictability of energy costs, improved building performance and resiliency, and minimal upfront project cost to owner.