Do more with C-PACE
C-PACE FOR DEVELOPERS
What if, when you were developing your next property, you could:
- Finance up to 35% of the fair market (“as stabilized”) value of your Tract with affordable, fixed-rate, non-recourse financing?
- Reduce your owner-equity contribution, mezzanine financing or other forms of high-cost capital, and lower your weighted average cost of capital?
- Fill gaps in your financing plan?
- Reduce your building’s energy use and cost?
- Build a more valuable and competitive building?
It’s possible, thanks to C-PACE.
What is C-PACE for new construction?
C-PACE is an innovative, new financing mechanism for commercial real estate developers. It enables you to access affordable, long-term, non-recourse financing for the installation of energy efficiency and renewable energy measures.
Financing is provided by private capital providers in an open market. This means you can choose the most competitive rates and terms. The C-PACE financing is repaid through a voluntary assessment that is recorded on the property, similar to a sewer district assessment. Repayment terms can extend up to 25 years—and you can transfer the assessment to a new owner if you sell the property.
Today, there’s no longer any reason to “value engineer” energy efficiency and renewable energy measures out of a project! Thanks to C-PACE, you can build a sustainable, high-performing building right from the start, while reducing your weighted average cost of capital.
How Does It Work?
You start by either engaging with a C-PACE project developer to help you through the process, or by submitting a project application, on which you’ll be asked to confirm that your proposed building will be designed to meet or exceed the City’s current energy code IECC 2018/ASHRAE 90.1-2016.
Next, the C-PACE program administrator will coordinate with you, your engineering firm and capital provider, where necessary, to ensure that all parties understand the C-PACE program requirements.
Contact us or visit our FAQs page to learn more about C-PACE for new construction.