Michael Davis - December 8, 2014 Yesterday Peabody Properties held a tour of their energy retrofit project at Powdermill Village, located in Westfield, MA, to kick off their commitment signing on to the Better Buildings Challenge. By participating in the Better Buildings Challenge, building owners commit to 20 percent portfolio-wide energy reduction over 10 years. Peabody is 1 of 11 multifamily affordable housing owners in New England that have taken on this challenge and representatives from HUD, Mass Housing, Boston Community Capital, New Ecology, and LISC all toured this 250 unit, 12 building energy retrofit project that is expected to achieve a 30 percent savings on bills, cut water use by 30 percent and electric use by 50 percent.
Powdermill Village participated in the MA Green Retrofit Initiative and received $2.2 Million in energy efficiency upgrades through a financing partnership with Mass Housing and Boston Community Capital. The entire development has converted from oil to natural gas and 1 of the 12 buildings will serve as a test case for energy efficient building envelope work. This will be one of the first projects in the country that uses energy savings to repay an improvement loan. LISC applauds Peabody Properties for its leadership in joining the Better Buildings Challenge and for all of the partners involved in this project. The people who live at Powdermill Village will be more comfortable, healthier, and have a fantastic home to return to at the end of each day.