Thoreau Center for Sustainability

Finance & Cost

Tom Sargent and John Clawson from Equity Community Builders represented the Thoreau Center Partners during the design and construction process. They were instrumental not only in project management and tenant representation but also in creatively structuring and securing the required private bank financing and historic tax credits.

Conforming to the rehabilitation requirements for the federal historic tax credit program was critical to the financial viability of the Thoreau Center.

Financing Mechanisms

• Equity: Historic tax credits
• Loans: Private (bank, insurance)

Cost Data

Cost data in U.S. dollars as of date of completion.

• Total project cost (land excluded): $4,100,000

The renovation was accomplished within a modest budget of $4.1 million for base building and tenant improvements, excluding site work—approximately $55/ft2 ($592/m2).

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Our thanks to the ENERGY STAR program of the U.S. Environmental Protection Agency, and to the U.S. Department of Energy, and to BuildingGreen, Inc. for hosting the submission and judging forms.

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