More Development For Midtown Woodward Gardens Joining Detroit Thermal Steam Network

[jpbollma]

http://finance.yahoo.com/news/woodwa...155400096.html

DETROIT, July 9, 2012 /PRNewswire/ -- Detroit Thermal [[www.detroitthermal.com), owner and operator of the district energy steam system throughout downtown Detroit, today announces that it will add Woodward Gardens, a mixed-use area, to the Detroit Thermal [[DT) steam network.
[[Logo:http://photos.prnewswire.com/prnh/20120709/NE36764)
Construction will begin later this summer on this, the third residential project, in addition to Cadillac Square Apartments and Park Avenue House, that DT has added to its system in eight months. Located on Woodward between Mack and Warren, Woodward Gardens contributes to the integral efforts to revitalize the important Midtown area. The project also affirms DT's dedication to investments in infrastructure, the environment, employment, and economic development.
"The Woodward Gardens developers came to Detroit Thermal because of their commitment to renewable energy and after researching geothermal-based options," said Detroit Thermal Business Development Director Scott Barr. "Our district energy solution ended up saving half-a-million dollars in upfront costs. DT is further investing in the project by connecting the building to the steam network for no additional costs." The Woodward Garden Block Development involves four phases of revitalization to one of the last derelict blocks on Woodward. The first two phases, which included construction of a 302-space parking structure and a new mixed-use office and retail building, have been completed.

[Wesley Mouch]

I'd be very curious to see a financial analysis of this. Am a huge fam of district heating/cooling --but DT has had pretty high rates over the last decade. Most new DT installations were either politically driven, odd places where boilers couldn't be installed,
or projects where capital was tight and operating cost didn't matter as much as capital cost.

Does anyone know what their rate per pound of steam is these days?