Opportunity
The DuPont Building is a hallmark of downtown Wilmington, DE. Originally constructed in 1908, it was the longtime home to the DuPont Company headquarters until 2015. At approximately 1,000,000 square feet and taking up an entire city block, the building has been undergoing significant renovations after being purchased by The Buccini/Pollin Group in 2017. These renovations will modernize and overhaul the building to convert it into a mixed-use facility consisting of a hotel, luxury apartments, a theatre, retail space, and office space.
Property summary
C-PACE financing will be used to cover multiple renovations including chiller plant replacement, boiler replacement, and cooling tower refurbishment. These upgrades will save the property owner an estimated $14,217,721 over the lifespan of the equipment.
Read more about this project on our blog!
PACE financing closes a significant gap in the market for funding energy efficiency projects for commercial properties. We have been working for years to bring PACE to Delaware and are so excited to finally make this new program a reality for The Buccini/Pollin Group and the historic DuPont Building. This project will create many local jobs and will significantly lower the property’s carbon footprint. It’s an exciting win/win for all parties involved.
