169 Callender Replaced Aging Rooftop HVAC with No Money Down

Property Summary

169 Callender Road is a single story, multi-tenant commercial and light manufacturing building owned by 169 Callender Rd, Inc. with four tenants including a screw manufacturer and a daycare.

Utitec, the anchor tenant, is a precision metal manufacturing company founded 35 years ago. They specialize in the design and manufacture of miniature, ultra-high precision tubular and flat stamped components.

Opportunity

Building Owner Domenic Coviello was facing challenges when his existing rooftop units broke down unexpectedly, leaving him with unhappy tenants and an unbudgeted equipment replacement.  By accessing C-PACE funding through Greenworks Lending, Domenic was able to secure all the capital he needed to install high performance rooftop units and also pay for some of the deferred maintenance costs associated with his inefficient old units.

Contractor

Trane is an international climate control company which has been in business since 1885 with its first air conditioner patent in 1931. It was acquired by Ingersoll Rand, the global diversified “environment security and comfort” company, in 2008. Trane is a CT Green Bank approved contractor and has successfully worked on several prior C-PACE projects.

169 Callender Replaced Aging Rooftop HVAC with No Money Down

PROJECT SUMMARY

$755,948
Total net savings over 25 years
Business Type Office/light manufacturing
Building Type Commercial/Industrial
Project Type HVAC
Project Cost $403,212
Term 20 Years