Financing Amount: $17,258,500

Property Summary:

On July 20, 2026, the Philadelphia Energy Authority, Nuveen
Green Capital, and L&M and Medicon Real Estate Developments
LLC closed on C-PACE financing for energy efficiency and water
conservation measures to be installed in a multifamily
development in East Kensington. The C-PACE assessment is for
$17.3MM which represents 100% of total eligible C-PACE
measures.

The 155 unit multifamily apartment building is being developed by
the Riverwards Group.

Energy savings calculations are based on improvements above
IECC 2018, Philadelphia’s energy code baseline in 2026 and
percent of qualified project financed with C-PACE. The facility
features HVAC, lighting and envelope measures substantially
above energy code. Altogether, the building is projected to use
23.5% less energy than required by energy code (IECC 2018).