Project Overview
The Battery is a gut rehabilitation and adaptive reuse of the former Philadelphia Electric Company (PECO) Delaware Station. Spanning over 300,000 square feet, the Beaux-Arts industrial landmark was transformed into a premier mixed-use campus housing luxury apartments, offices, event space, hospitality, and a sports club.
Managed by real estate firm Lubert-Adler, the property owners secured $26.5 million in retroactive C-PACE capital from North Bridge upon reaching temporary certificate of occupancy (TCO). The C-PACE funds enabled the owners to recapitalize on completed energy and water efficiency improvements across six of The Battery’s condominium units.
In 2025, The Battery received the Richard H. Driehaus Foundation National Preservation Award from the National Trust for Historic Preservation, a recognition of the country’s “best of the best” preservation projects. It is the first project in Philadelphia to ever receive the award.
$26.55M
$153,600
Annual energy savings
2,986 Mt
Annual avoided carbon emissions
Project Details
Through high-performance building upgrades, The Battery is projected to operate 29% more energy efficient than required by Philadelphia’s building energy code. C-PACE financing was used to fund retroactive energy conservation measures and water efficiency infrastructure installed during the comprehensive historic rehabilitation of the property.
C-PACE funds covered the following building improvements:
- High-efficiency HVAC and mechanical systems
- Building envelope insulation and window system restoration
- Advanced interior and exterior LED lighting and controls
- Low-flow plumbing fixtures and water conservation infrastructure
These C-PACE-funded efficiency upgrades are estimated to yield $153,600 in annual utility cost savings and contribute to an annual reduction of 34,320 metric tons of CO2 equivalent emissions over 25 years.