Downtown Denver’s Petroleum Building
Denver’s Petroleum Building
The owners of historic Petroleum Building in Denver sought to enhance occupancy rates and renew leases by creating a healthy, comfortable, productive, safe and environmentally considerate place to work. The key benefits of the efficacy upgrades are reduced energy use and more flexibility to address tenant comfort issues.
The HVAC system and building controls needed to be replaced. The owner needed to finance both soft and hard costs, while keeping their capital budget intact.
CleanFund secured $1.1 million in C-PACE capital that will be repaid over 20 years at a fixed-rate, is non-recourse and covers 100% of project cost.
The building’s energy efficiency will improve by 12% with an annual CO2 reduction of 1,384 tons, the equivalent to taking 296 gas-powered cars off the road for a year.