June 07, 2021
Commercial Property Assessed Clean Energy (C-PACE) financing — a once little-known mechanism for property owners and developers to access low-cost, long-term, fixed-rate financing for new development or rehabilitation projects — is rapidly growing in popularity throughout the country. More and more states are adopting this assessment financing tool as governments look to incentivize commercial property owners to be more energy efficient and owners seek to find more affordable ways to upgrade their properties.
For many, the COVID-19 pandemic has caused pullback from the lending industry for dependable construction financing. As a result, C-PACE – a public-private financing program which has been around since 2007 – has increasingly helped fund new construction projects and recapitalize existing developments across the country throughout the pandemic.
Photo: Commercial Oberver