Commercial PACE Financing for New Construction
Commercial property assessed clean energy (CPACE) financing is a financing solution that helps overcome the upfront costs of implementing energy, water, or resilience projects. While it is most commonly used to finance projects in existing buildings, owners and developers are increasingly incorporating CPACE into the capital stack for new building construction, adaptive reuse, and major renovations. This toolkit provides resources and project case studies for building owners and developers that may want to take advantage of commercial PACE for new construction.
TOOLSThis fact sheet explores how commercial property assessed clean energy (CPACE) financing can be used to fund energy, water, or resilience projects in new building construction, adaptive reuse, and major renovations.Hartford, CT, financed a $1 Million project through Greenworks Lending's Commercial PACE structure to implement energy efficiency, renewable energy, and microgrid improvements for a mixed-use building.Lever Real Estate Capital: PACE Enables Energy Efficiency in Redevelopment Project Implementation ModelLever Real Estate Capital provided $4.6 million in PACE financing as part of the restoration of Omaha, NE’s Blackstone Hotel to help fund energy efficiency upgrades with no upfront costs.