US: The Roberts Riverwalk Hotel in Detroit has been granted a $4.8 million energy efficiency and property sustainability programme.
The programme was approved by Lean and Green Michigan for PACE (Property Assessed Clean Energy), in partnership with PACE Energy Services, Structured Finance Associates, and Wayne County.
Under the programme, the hotel is in the process of implementing a wide variety of energy and water efficiency measures including LED lights inside and out, new heating and cooling units, state-of-the-art building controls, multiple water saving measures, building envelope upgrades, solar-powered parking lights and will address certain storm-water controls. The $4.8 million project was financed over 20 years and is projected to save $15.6 million over that time span.
“The rebirth of Detroit is happening,” said hotel owner Dr. Michael Roberts. “Once a struggling city, it has now turned the corner and is experiencing an extraordinary renaissance with new commercial and residential developments, national conferences, sporting events, concerts, and job creation. This is an exciting time to be invested in this beautiful city and an integral part of the community.”
PACE is a legislative programme developed as a long-term financing tool for commercial property owners to pay for energy efficiency, water efficiency, and renewable energy upgrades. Property owners receive 100 per cent pre-funding for energy saving upgrades on their facilities and pay the PACE loan back through a special assessment on their property taxes. Dr. Roberts pursued the program after discovering the opportunity to lower energy costs while significantly decreasing the hotel’s carbon footprint.
“I look forward to not only the continuation of giving back to the people of Detroit, but, also aiding in improving the environment in which we live and work,” said Dr. Roberts. “This is truly a magnificent city and I encourage more businesses to incorporate environmentally friendly sustainable measures with in their facilities and operationally.”