1225 North Loop Investments, Inc., utilized the City of Houston’s PACE program to invest $1.3M in property upgrades, making it the first commercial office property to implement a TX-PACE project.
The project will provide $3.66 million in savings over the 20-year term, while improving tenant comfort and increasing efficiency. Improvements include new chillers and associated water pumps, variable speed drives and air handlers, LED lighting, and building controls.
This is the second TX-PACE project for the City of Houston since establishing the program in late 2016. It is estimated that providing PACE financing for 3.5 percent of the commercial building sector in Harris County would result in more than $650 million in energy-efficiency upgrades, with corresponding increases in jobs, decreases in power usage, and reductions in carbon pollution.