Project Overview
Bromley Loom House is a ground-up construction, five-story building in Philadelphia’s East Kensington neighborhood. The newly constructed, 63-unit multifamily property includes two ground-floor commercial spaces.
In June 2023, PEA, PACE Equity LLC, and ACG 2315 FRONT LLC (managed by Ampere Capital Group) closed on $997,706 in C-PACE financing for the Bromley Loom House at 2315-2325 N. Front Street. The financing provided essential capital to cover supply chain cost overruns and bridge financing for energy and water efficiency measures installed during construction. Notable for its efficient execution, the deal closed in just seven weeks from pre-application submission to recording the C-PACE assessment.
$998k
$24,828
Annual energy savings
86 Mt
Annual avoided carbon emissions
Project Details
C-PACE financing was utilized to fund energy efficiency and water conservation investments for the newly constructed transit-oriented development, lowering overall capital costs while optimizing building performance. Energy modeling projects the building will operate 19% more energy efficient than required by Philadelphia’s building energy code baseline.
C-PACE funds covered the following building improvements:
- High-efficiency HVAC systems
- High-performance building envelope insulation, roofing, and energy-efficient window systems
- Advanced interior and exterior LED lighting and controls
- Low-flow plumbing fixtures and water conservation infrastructure
These C-PACE-funded efficiency measures are estimated to generate $24,828 in annual utility cost savings and contribute to an annual reduction of 63.2 metric tons of CO2 equivalent emissions.