Jonathan Rose Companies: Juanita Nolasco Residences

Solutions

Jonathan Rose Companies utilized an equity investment and Freddie Mac Green Advantage loan to acquire the property. This reduced the interest rate and allowed the project to underwrite a portion of projected energy and water cost savings. In addition, the team worked with Denver’s Office of Economic Development to extend the affordability covenants at the property from 20 years to 60 years and deepen the affordability to reserve units for more low- and very-low-income households in exchange for a $2.6 million soft loan that funded a 2019 rehabilitation. Affordability was expanded from 86% of units restricted to households earning 60% of Area Median Income (AMI) and 14% of units restricted to households earning 50% of AMI to 71% at 60%, 14% at 50%, and 14% at 30% of AMI.

The project secured nearly $400,000 in incentives from Energy Outreach Colorado to implement a green retrofit that included full LED lighting replacements, installation of low-flow faucets, showerheads, and toilets, ENERGY STAR refrigerators and laundry equipment, and a new, high-efficiency, condensing hot water boiler plant. The package, which came to a net cost of $247,000, earned the project certification under Enterprise Green Communities and is expected to have a pay back period of under 6 years through utility savings.

Noteworthy upgrades include:

Electric
- Whole property LED lighting and controls
- ENERGY STAR Appliances in all units and common spaces

Gas
- Installed a high efficiency boiler plant
- Piping insultation and air sealing

Water
- Installed low-flow toilets, showerheads, and faucet aerators building-wide
- Enhanced water monitoring and leak detection

Jonathan Rose Companies: Juanita Nolasco Residences

ANNUAL ENERGY USE

(Source kBtu/sq.ft)

ANNUAL ENERGY COST

ANNUAL WATER USE

ANNUAL WATER COST

ANNUAL PLANT ELECTRICITY USE

ANNUAL PLANT ELECTRICITY COST

IN BUILDING ENERGY USE

IN BUILDING ENERGY COST

ACROSS NETWORK USE

ACROSS NETWORK COST

ANNUAL EMISSIONS

USE

COST

Exterior post-rehabilitation

Interior post-rehabilitation

Jonathan Rose Companies: Juanita Nolasco Residences

Related Content

Exterior post-rehabilitation

Interior post-rehabilitation