November 15, 2015

CivicPACE Phyllis Wheatley Case Study

The Phyllis Wheatley YWCA in Washington, D.C. is an 84-unit affordable and transitional housing facility. Financed through PACE, the solar installation and energy efficiency improvements will save nearly $6,000 a year.

This project was organized by CivicPACE, a program led by The Solar Foundation (now IREC). The CivicPACE team worked with local government agencies to obtain U.S. Department of Housing and Urban Development (HUD) approval of an inter-creditor agreement, ensuring the property would remain affordable housing for at least 40 years while maintaining compatibility with PACE security structures. This is an important precedent for incorporating PACE into mixed finance projects.