28 High St. Apartments Completes C-PACE Financed Solar Project

The Connecticut Green Bank announces the completion of a solar photovoltaic (PV) installation at 28 High St. Apartments in Hartford, a six-story residential building owned by CCAM LLC. The property features market and affordable-rate studio, one- and two-bedroom apartments in a building that is listed on the U.S. National Register of Historic Places in the High Street Historic District. The 16.6 kW solar system is projected to provide more than $100,000 in energy cost savings over the estimated useful life of the panels.

Built in 1860, the site was originally operated by James Batterson as the New England Granite Company before Batterson formed the Travelers Insurance Company in 1863. The property was recently converted to housing by commercial property investor Constantinos Constantinou, who secured loans through the Capital Region Development Authority and utilized state historical tax credits.

“The Green Bank provided low‑interest, long‑term financing that made the solar installation affordable,” said Constantinou. “The fact that there is essentially no upfront cost facilitates the process.”

“Thanks to flexible terms and lower interest rates, C-PACE is a great option for owners as they navigate the unique challenges of a property conversion,” said Mackey Dykes, Executive Vice President of Financing Programs at the Green Bank. “In addition to renewable energy projects, C-PACE can provide financing for energy efficiency upgrades that can also improve the comfort of an industrial property turned residence.”

Connecticut Green Bank | https://www.ctgreenbank.com/