BUFFALO GROVE, Ill. — Siemens has entered Phase 2 of a project that will save the Youngstown Metropolitan Housing Authority (YMHA) approximately $500,000 per year, according to a press release.

Phase 1 of the project began in 2008, noted the release, saving YMHA several million dollars. Phase 2 involves updates to more than 500 units in five developments.

The project is part of a larger effort to modernize half of YMHA’s housing units, stated the release. The second phase’s upgrades include lighting retrofits, updated temperature controls, energy-efficient refrigerators, furnace replacements and energy-efficient domestic hot water heater replacements.

“The energy performance contract with Siemens assists YMHA to address the challenge of providing more energy proficiency to our older housing stock,” said Carmelita Douglas, executive director of YMHA, in the release. “Based on the success of the first phase, it only made good financial sense to extend our contract.”

Public authorities can receive incentives through the U.S. Department of Housing and Urban Development to make energy and water savings improvements to housing units, shared the release.

YMHA is one of the oldest housing authorities in the U.S., reported the release. It was built in the early 1930s.

You can find the entire release here.