Commercial Building Revitalization

Commercial Building Revitalization

The City of Beachwood Economic Development Office is committed to providing resources and assistance to commercial building owners looking to increase efficient operation of commercial office buildings. This resource page can offer some progressive approaches to meeting overall community sustainability and incentives that support partnerships for commercial building owners considering investments in commercial office buildings.

Incentives Available to Support Commercial Office Buildings

Incentives to Support Tenant Improvements

Forgivable Loan/Grant Opportunities

The City of Beachwood has established a new commercial office building revitalization forgivable loan program. The program is expected to be released the first half of 2024. Details related to the program are available here with a formal program application to be released. To receive an application upon release, contact the Office of Economic Development at 216-292-1915 or e-mail Catherine.Bieterman@BeachwoodOhio.com with subject title, Commercial Building Revitalization Forgivable Loan Application Request.  

Resources to Support Progressive Approaches to Revitalization

Any commercial office building owner interested in considering a progressive program for split incentives such as these should contact the Office of Economic Development at 216-292-1915. These programs may be supported by these incentives listed above, other supporting resources may also be available to support a partnership in exploring these programs to further overall community sustainability.  

  • Article:  How to upgrade commercial building to maximize its potential
  • Institute for Market Transformation Green Lease Leaders Program: Since its inception in 2014, IMT and the U.S. Department of Energy’s (DOE) Better Buildings Alliance recognition program has grown to include firms that represent more than 2 billion square feet of building space, becoming best practice across real estate markets. Learn more about the IMT program.
  • The Green Lease Leader ProgramThe program is focused on providing resources that address the four most critical steps that impact the ability to do high performance buildings in the long-term: site selection, lease negotiations, tenant fit-out, and tenant operations. Learn about the Green Lease Leaders.
  • Energy Efficiency Commercial Buildings Deduction: Building owners who place in service energy efficient commercial building property (EECBP) or energy efficient commercial building retrofit property (EEBRP) may be able to claim a tax deduction. Details at IRS.gov.

Other Resources

  • NOPEC: NOPEC offers two low-interest loan programs for commercial and industrial property energy improvements. These programs provide commercial property owners with the Capital they need to lower their energy costs through energy efficiency upgrades. To date, NOPEC has financed nearly $5 million on combined PACE and STEP loans! They also have opportunities for no-cost energy efficiency audits. More information can be found at nopec.org/small-businesses.
  • Energy Star: ENERGY STAR® is the government-backed symbol for energy efficiency. The blue ENERGY STAR label provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. ENERGY STAR is administered by the U.S. Environmental Protection Agency. Thousands of organizations—including nearly 40% of the Fortune 500®—partner with ENERGY STAR. Together with EPA, they deliver cost-saving energy efficiency solutions that protect the climate, improve air quality, and protect public health. 
  • Portfolio Manager: EPA’s ENERGY STAR Portfolio Manager tool lets you measure and track your properties’ energy, water, waste, and GHG emissions in a secure online environment. After entering building and utility data, Portfolio Manager will help you track more than 100 different performance metrics, including the 1 – 100 ENERGY STAR Score for most buildings.
  • Benchmarking Starter Kit: If you’re new to Portfolio Manager, the quick start guide, data collection worksheet, and training sessions will help you get up and running.
  • Energy Star Certification for Buildings: Commercial buildings that earn an ENERGY STAR score of 75 or higher are eligible to earn ENERGY STAR certification. Certification is based on 12 months of energy use data and is valid for one year, and applications must be verified by a Licensed Professional.
  • Directory of Licensed Professionals: Find Professional Engineers and Registered Architects in your area who can help verify your application for ENERGY STAR certification. Everyone on the list has experience with the process, having verified at least one building that earned certification.
  • Unlocking Hidden Value in Class B/C Office Buildings: View best practices for pursuing low-cost, high-impact energy efficiency and Green Lease strategies