May 18th, 2019
May 24th, 2021
On May 21, 2021, an adaptive reuse project for ODG 100-116 Northampton LLC (Optima Durant Group LLC) became the first project approved for Commercial Property Assessed Clean Energy (C-PACE) financing in Northampton County. Optima Durant Group LLC is borrowing $3,454,940.55 from Twain Financial Partners to finance a proposed eight-story, mixed-use redevelopment project located in the city of Easton for The Commodore. The building contains office, retail, and restaurant space.
Eligible energy improvements financed through C-PACE for the Commodore project include energy and water conservation measures with improvements across the building’s systems, including lighting, HVAC systems, building envelope, and plumbing fixtures. Annually, these measures will save an estimated 132,554 kWh of electrical energy and 137 CCF of water conserved, resulting in an annual estimated energy cost savings of nearly $16,492. Construction for this project is expected to be completed in 2022.
“Northampton County’s future is green,” said Lamont McClure, County Executive of Northampton County. “It’s green because we are working on ways to protect our environment without materially impacting economic growth.”
“This is a great project as it utilizes energy-efficient construction for both a new facility and an adaptive reuse project,” said John Costlow, President of Sustainable Energy Fund. Sustainable Energy Fund is administering Northampton County’s C-PACE program as well as several other programs throughout the state. “SEF looks forward to seeing many more C-PACE projects in Northampton County and throughout Pennsylvania.” For information on Pennsylvania C-PACE, visit https://www.pennsylvaniacpace.org. To learn more about Northampton County C-PACE, visit https://www.northamptoncpace.org.