Project Overview:
Located in Chevy Chase, Maryland, the 4620 North Park Avenue Condominium is a full-service, 17-story residential community with 292 units. To enhance resident comfort and address aging building infrastructure, the condominium launched a comprehensive modernization effort focused on energy efficiency and partial electrification.
The project includes the replacement of closed-loop hydronic piping and fan coil units, installation of new thermostats and advanced system controls, and completion of associated repairs throughout the property. These upgrades will replace aging systems, improve operational efficiency, and strengthen overall building performance.
Impact and Benefits:
The improvements are projected to deliver substantial energy and environmental benefits:
• Annual Energy Savings: 255,460 kWh
• Carbon Emission Reductions: 180.6 metric tons of CO₂ avoided each year
• Annual Cost Savings: Approximately $25,546 in reduced electricity expenses
Beyond cost and energy savings, the project enhances building resilience, extends system lifespan, and supports Montgomery County’s long-term decarbonization and electrification goals.
Conclusion:
The 4620 North Park Avenue Condominium project exemplifies how public-private financing partnerships can help modernize aging infrastructure while advancing community-wide sustainability goals. Through its co-lending participation, the Montgomery County Green Bank helped make this major efficiency and electrification initiative possible—enhancing resident comfort, reducing emissions, and supporting Montgomery County’s transition toward a cleaner, more resilient future.
Financing and Partnership:
The total project cost was $8.5 million, financed through a combination of sources:
• $2 million financing from the Montgomery County Green Bank
• $3.5 million financing from Servbank
• $3 million in condominium reserve funds
