How big was the Mercy Housing challenge? According to Caitlin, “Assisted multifamily housing owners are uniquely and significantly constrained in our ability to implement efficiency and renewable projects. We lack capital for investment, we do not have the ability to take loans at our properties, and the industry is risk averse because it is in the business of owning and operating affordable housing, not environmental sustainability.”

Caitlin further explains, “ACE is the only organization we have found that brings the capital, takes the loan, and assumes the risk. We pay from measured savings and, importantly, receive a share of the savings during the course of the contract period.”

Finally, Caitlin sees great value in ACE’s deep understanding of the Mercy Housing environment. “I can’t emphasize the importance of ACE’s experience in multifamily affordable housing enough—it is a complicated world to navigate. ACE knows our business, our constraints, our opportunities, our legalities and our culture. That, along with their other features, make them unique in the industry and the clear choice.”

Caitlin’s conclusion: “It’s a model in which everyone wins—investors, subsidized housing owners, ACE and its partners, and, ultimately, our residents.”