Millennium Residences at Winthrop Center Secures Record-Breaking PACE Financing

The Millennium Residences at Winthrop Center in downtown Boston secured $281 million in private financing through PACE Massachusetts, the largest commercial PACE financing transaction in New England history. Developed by Millennium Partners, Winthrop Center includes the world’s largest Passive House-certified office building and sets a new standard for sustainable urban development. The project uses approximately 65% less energy than comparable conventional buildings and has earned LEED Platinum and WELL Gold certifications.

The PACE financing, provided by Nuveen Green Capital and administered through MassDevelopment’s PACE Massachusetts program, enabled Millennium Partners to recapitalize the property with long-term, lower-cost funding that recognizes its significant investments in energy efficiency and sustainability. The transaction demonstrates how public-private collaboration can unlock private capital for high-performance buildings, reducing energy consumption and operating costs while advancing Massachusetts’ clean energy and climate goals.