Commercial PACE 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.Commercial PACE Financing for Microgrid in Mixed-Use Building Implementation ModelFinanced by Greenworks Lending, this $1 million project in Hartford, CT, included energy efficiency, renewable energy, and microgrid improvements as part of broader renovations in a mixed-use housing and retail space.PACE Enables Energy Efficiency in Major Redevelopment Project Implementation ModelLever Real Estate Capital financed a $4.6 million energy efficiency retrofit as part of the redevelopment of the historic Blackstone Hotel in Omaha, Nebraska.