The YWCA was first constructed in 1920, and provides 84 rental units to low-income and vulnerable women. The building was in urgent need of upgrades to preserve local affordable housing. Local DC real estate developer Dantes Partners was charged with redeveloping the property.
Dantes Partners worked with the DC PACE program to integrate PACE into a $17 million capital stack with eight other sources of capital. The project integrated SREC solar credits from the installed solar system, as well as Low Income Housing Tax Credit (LIHTC) investment, and marked the first use of PACE financing for a U.S. HUD assisted mixed-finance public housing property. Improvements are expected to reduce energy use by 24% and water use by 47%.