About the Project:
Kenwood House is a co-op building in Chevy Chase, Maryland. Kenwood House will undergo energy efficiency renovations using tailored financing from the Green Bank and the National Capital Bank of Washington. The energy efficiency upgrades include a domestic hot water heating system, building envelope, and EV charger installations. Over the next 20 years, these energy conservation measures will result in 448,260 kWh in energy savings and $69,040 in reduced electricity bills for the building.
Financing Details
The Green Bank- in partnership with the National Capital Bank of Washington- provided structured financing with a 12-month draw period followed by P&I payments based on a 10-year fully amortizing loan.
Montgomery County Green Bank’s Role
Due to the Montgomery County Green Bank’s and National Capital Bank of Washington’s participation, Kenwood House received a blended interest rate on the loan.
Project Snapshot
Building Type:
Kenwood House is a 5-story, 70-unit cooperative building, located in Chevy Chase MD.
Property Upgrade Summary:
Energy efficiency renovations, including a domestic hot water heating system, building envelope, and EV charger installations.
Loan Amount:
$1.2 million participation loan by the Montgomery County Green Bank and National Capital Bank of Washington.
