EEA’s Mechanical Engineer Bryan Simler served as the Independent Third Party Reviewer for the largest Property Assessed Clean Energy (PACE) loan in U.S. history. The $120 million renovation project of the Butler Bros. Building at 500 South Ervay Street in Dallas received D Magazine’s award for the Best Public-Private Partnership.
“The Independent Third Party Reviewer (ITPR) plays an essential role in the Texas PACE Authority’s programs,” EEA’s Bryan Simler said. “As the ITPR, EEA must be professionally qualified and not have any conflict with the project. The ITPR reduces risk for everyone involved by providing third-party review services to ensure the project energy savings are reasonable and realized, and the project is completed and operates as intended.”
D Magazine reports that “When the PACE debt was awarded to developer Alterra International via law firm Munsch Hardt Kopf & Harr for the century-old building in July 2017, the loan touted a few accolades. The unique partnership involving the city and state was the first PACE loan in Dallas and the largest in Texas.”
The end result: an energy-efficient mixed-use project with 238 apartments and a 270-room dual-branded hotel just steps away from City Hall.
“PACE is extremely important because it allows commercial and industrial owners to receive long-term loans in areas of energy efficiency and water conservation,” EEA’s Bryan Simler said. “Building owners are more encouraged to take advantage of energy and water saving technologies when they have access to low-cost loans. In addition, the loans are set up so the utility cost savings are higher than the loan payments, resulting in positive cash flow for the Owner, enabling them to take advantage of the program more easily.”
Read more about the project and the award in D Magazine here.
About EEA Consulting Engineers
Austin headquartered EEA Consulting Engineers is licensed in all 50 states and the District of Columbia for MEP engineering (mechanical, electrical, and plumbing) services, energy conservation, commissioning, process utility engineering, and utility master planning. Since the company’s founding in 1977, the Austin engineering company has grown from two staff to now more than 80 personnel with offices in two states.
Our Texas engineers and New Mexico engineers have completed projects in the United States, Puerto Rico, Canada, Dominican Republic, Mexico, and Singapore for central utility plants, commercial clients, data centers, the government and military, the high tech and semiconductor sector, higher education institutions, industrial facilities, pharmaceutical and biotechnology facilities, recreational parks and pools, religious institutions, and retail and senior living giants. EEA is an Austin American Statesman “Top Workplace” and has been a Consulting Specifying Engineer magazine “MEP Giant” multiple years (a top 100 MEP engineering firm in the USA). For more information, please visit www.eeace.com
Categories: EEA Experience