Keefer House Hotel

Property Description

Once a luxury hotel, the historic Keefer House hotel sat vacant after 2002. In 2018, the building was purchased for renovation. The historic building, located in Hillsdale’s core downtown area, is a 26,000 SF boutique hotel with 34 guest rooms, a restaurant, and commercial space for food prep and catering operations.

Loan Usage

The C-PACE proceeds finance energy conservation and renewable energy measures, which are expected to save $107,797 annually in the pay back period of 19.5 years. Alongside C-PACE financing, the project used Tax Increment Financing (TIF), historic tax credits, and was a ground lease.