Skip to content

Deal Spotlight

ESA and PPA Financing for Cogeneration and Insulation Upgrades in Multifamily Housing

$ 0 M
ESA & PPA year 1 revenue
0 %
Year 1 Projected energy savings
0 %
Year 1 Projected GHG savings

The Building: Roosevelt Landings

Building type
Multifamily

Building size
9 buildings
1 M square feet
1,003 units

Year built
1969

Location
New York, NY

Project type
Energy efficiency and cogeneration

Upgrades
Insulation and cogeneration

NYCEEC loan product
ESA/PPA

Term
8 years

Closing date
November 2012

The Project

Roosevelt Landings wanted to upgrade outdated systems and improve the complex’s resiliency. The upgrades included cogeneration, whole-building air sealing, floor slab insulation, networked programmable thermostats and high-efficiency boilers.

Total Project Cost

$8 M

Other Sources

$3 M

NYCEEC Loan

$5 M

Annual Savings

$747,000

The Results

Project completed with no upfront cost to the building owners and no additional debt. The building cash reserves are preserved with ESA and PPA revenue exceeding projections. This project also pioneered the use of an energy services agreement in a multifamily building and is the largest multifamily air sealing project in NYC to date.