The Masters Residences 2: New Construction and PACE Wisconsin Financing
The Masters Residences Phase 2 Apartments
The Masters Residences Phase 2 Apartments in Middleton, Wisconsin, is an example of how commercial property owner, T. Wall Enterprises, used C-PACE financing from the PACE Wisconsin program and energy incentives from the FOCUS ON ENERGY® program for their new construction project. In Wisconsin, commercial property owners are using multiple energy efficiency finance and incentive tools to implement clean energy updates as part of their new construction projects.
The new construction of the multifamily apartment building, designed to be an urban village, is located to the south of Bishops Bay Parkway outside of Middleton, in the community of Bishops Bay. The commercial property owner used $1.5 million in commercial PACE (C-PACE) financing for energy-efficient and water-saving updates to the 85,000 square foot building. Financing funded the following upgraded energy and water savings measures:
- Building Envelope: Roof, Wall, and Window Upgrades
- Lighting: Interior and Exterior LED lights
- Heating, Ventilation, and Air Conditioning (HVAC): Vertical Terminal Air Conditioner (VTHP) control the temperature of a single room or multiple rooms in a building, Packaged Terminal Air Conditioner (PTAC) a standalone air conditioner and heater that is installed through a wall, Common Corridor System, Garage Unit Heater
- Domestic Water Heaters (DWH)
- Low-Flow Faucets
The project will save an estimated $78,243 per year and $2,034,313 over the course of the loan in utility costs and water savings because of construction measures implemented to conserve energy, water, and the environment. The projected environmental benefits equal 969,448 kBTUs per year.
Mr. Wall has been a leader in green development and the recipient of the Governor's Award for Excellence in Energy Efficiency. T. Wall partners with Focus on Energy to have energy usage analysis completed for each of its eligible new construction projects.
Through Energy Design Assistance (EDA), the design for the Masters Residences was assessed with a whole-building analysis of energy-saving options. The T. Wall project team evaluated energy modeling results in the context of their overall goals and budget, in collaboration with Focus on Energy. A customized "bundle" of savings strategies that best aligned with the project needs and schedule was incorporated in the final design. These energy savings measures resulted in a Focus on Energy financial incentive of more than $27,000.
To learn more about Energy Design Assistance, visit focusonenergy.com/new-construction.
