• Building Renovation
  • Commercial Real Estate
  • Philadelphia C-PACE

C-PACE Funding Modernizes Medical Building, Finances $11 Million Renovation

Project Overview

Substantial renovation of 3905 Ford Road Medical Center achieved the deepest energy savings among recent Philadelphia C-PACE projects. 

In 2025, PEA, Nuveen Green Capital, and 3905 Ford LLC closed on $11 million of C-PACE capital, enabling a comprehensive transformation of the West Philadelphia building. Now a high-performance, sustainable healthcare asset, the building houses Malvern Treatment Center — one of the city’s largest inpatient substance use disorder treatment facilities.

The 138,157-square-foot property located in the Wynnefield Heights neighborhood is managed by BG Capital. The renovation’s high-efficiency measures reduce utility costs and support patient recovery, delivering consistent indoor temperature regulation to create a more comfortable, healing setting for individuals undergoing addiction treatment.

$11 million

Project financing

$99,000

Annual energy savings

786 Mt

Annual avoided carbon emissions

“C-PACE continues to prove itself as an innovative and highly effective financial tool, and we believe its strategic value within a project’s capital stack will only grow in the years ahead.”
- Joe Byrne, BG Capital Managing Partner

Project Details

Originally constructed in 1967, the renovated medical center underwent adaptive reuse rather than demolition, preserving its core structural frame while dramatically improving overall performance. 

C-PACE provided retroactive financing following the initial construction of the facility’s infrastructure. BG Capital and building occupant Malvern Treatment Centers finalized tenant improvements with the infusion of capital provided by C-PACE. 

The renovation is projected to operate 46% more energy efficient than required by Philadelphia’s building energy code baseline (IECC 2018). C-PACE financing funded high-efficiency infrastructure upgrades across resident rooms, common spaces, and back-of-house operations.

C-PACE funds covered the following building improvements:

  • Variable refrigerant flow (VRF) heat pumps serving common areas
  • High-efficiency packaged terminal heat pumps within resident rooms
  • Building envelope restoration, including refurbishing the original 1967 curtain wall and window systems
  • High-efficiency domestic hot water heating systems
  • Interior and exterior LED lighting upgrades
  • Low-flow plumbing fixtures and water conservation measures
Philadelphia C-PACE Program