8330 On the River
Green Capital Needs Assessment (GCNA)
- Detroit, Michigan
- A high-rise senior development that is more than 30 years old and in need of critical upgrades
The American Recovery and Reinvestment Act allocated funding for rehabilitation expenditures to 25 states under the Green Retrofit Program for Multifamily Housing. These conditions made the timing right for Michigan’s Preservation of Affordable Housing (POAH) to apply for funds for 8330 On the River, a high-rise senior housing development in Detroit.
8330 On the River was in need of upgrades to kitchens, bathrooms, mechanical controls and improvements to its building envelope to reduce high energy costs. Our Green Capital Needs Assessment (GCNA) provided POAH with a holistic view of the building, with quantified costs, and identified opportunities for use in future planning. In addition, the GCNA revealed that the development could save approximately $36,000 per year in utility expenses if our recommendations were implemented. The projected operating cost reduction improved the property’s borrowing ability and saved POAH $350,000 that would have otherwise been allocated to operating costs or reserves.