Deal Spotlight
Reducing Natural Gas and Bringing Energy Efficiency to Affordable Housing
$
0
Annual gas savings
0
metric tons
Projected GHG savings
The Buildings: Sentient Buildings
Building type
Affordable multifamily
Building size
5 buildings
1,115,440 square feet
1,154 units
Year built
1970-1974
Location
Mount Vernon, NY
Bronx, NY
Project type
Energy efficiency
Upgrades
Boiler controls, in-unit-sensors, master venting, thermostatic radiator valves and orifice plates, steam traps
NYCEEC loan product
Equipment loan
($392,833)
Term
1 year
Closing date
December 2019
The Project
Sentient Buildings, a building automation contractor, developed a project to install gas efficiency measures in five buildings: four owned by Urban American and one by RY Management. Funding from NYCEEC and ConEd allowed the project to proceed and importantly, reduce peak day gas loads thus increasing gas reliability to these LMI communities. Since incentives are received post-installation, there are often upfront cost challenges for contractors. NYCEEC’s loan to Sentient Buildings bridges the timing of the ConEd incentive payments, allowing the contractor to begin construction.
The Results
Impacting 1,154 affordable housing units, the upgrades will help the buildings use gas for heating more efficiently – saving money, reducing greenhouse gases, and making living spaces more comfortable – while also helping ConEd maintain gas reliability to these LMI communities. In addition, this gas efficiency project advances New York State’s and New York City’s environmental goals by reducing expected greenhouse gas emissions.
To increase uptake of energy efficiency and clean energy incentive programs and project installations, NYCEEC anticipates replicating and scaling similar financing solutions for contractors active in the Northeast and mid-Atlantic regions.