Ready to have your cake and eat it too? PACE Equity offers the CIRRUS Low Carbon program that includes a practical design specification along with a significantly lower interest rate. This results in improved NOI and project returns – plus a long-term boost to property value. How does Design Guidance work? We offer (at no…
“Absolutely! I would use CIRRUS Low Carbon for our next project.” Taylor Smrikárova, Director of Property Development for Redesign, Inc, was interviewed by PACE Equity about her experience with the CIRRUS Low Carbon program. Taylor is the lead developer for the Coliseum Building, a CIRRUS Low Carbon verified historic redevelopment in Minneapolis, Minnesota. This historic…
Blog post by Tricia Baker, Senior Vice President of Impact & Strategy, PACE Equity Developers hold the key to a lower carbon future. I recently worked for a few days in a living building – a building that results in net zero consumption – it doesn’t emit carbon and doesn’t use city water or sewer…
Banks have pulled back on their lending, leaving many developers facing a financing void. Sound familiar? This financing gap reflects today’s reality of tighter lending and higher interest rates. The option of using Commercial Property Assessed Clean Energy (C-PACE) to solve this financing challenge is gaining popularity. Historically, developers have seen PACE Equity as…
Alaska, New Jersey, New York City, New Mexico, Hawaii, Michigan – what do they have in common? Newly updated C-PACE legislation. They have either newly passed legislation allowing for C-PACE financing or have expanded existing programs. And they’re not alone. To date, 38 states plus Washington, D.C. have passed PACE legislation. Among them, 33 have…
THE SITUATION State and local building codes are moving toward higher and higher efficiency requirements, fueled by the goal of reducing U.S. carbon emissions. A key remaining challenge to advancing more quickly is the often higher construction costs associated with more efficient equipment and materials. Smart developers know that energy-efficient systems and green building designs…
PACE Equity has always been a financial tool that can serve the role of “gap-filling” in the capital stack. With construction lending tightening, many developers are seeing construction loan leverage between 45-60% Loan to Cost (LTC). Many developers have been increasing the equity contributions to cover rising costs and rates; these LTCs simply do not…
Moody’s Analytics Chief Economist Mark Zandi shared an assessment of commercial real estate sectors, delivered at an exclusive online briefing for CRE professionals organized by the C-PACE Alliance and sponsored by PACE Equity. The discussion was part of a broad assessment of risks to the economy he presented in terms of both their likelihood, and…
Cleveland, OH Cleveland developer group, Renew Partners, was the first to pursue and achieve a CIRRUS Low Carbon designation. Their redevelopment of the Residences at the Agora is an example of a high efficiency design for a multifamily project. Listen in while Shawn Neece, principal at Renew Partners, comments on how the CIRRUS Low Carbon…
Can a simple building plaque move the needle in commercial real estate? Answer: yes. It’s true that some tenants may not realize what the plaque signifies. But more and more, tenants & visitors recognize that a green building plaque means they are entering a place with state-of-the-art technology and design that saves energy costs, reduces…
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