PACE Loans in the State of New Jersey

Skyline image of Newark, New Jersey

PACE Equity Funds Local Developments

Property Assessed Clean Energy (PACE) is a legislated public/ private partnership that was approved in New Jersey as a financing tool to encourage energy efficiency with long-term, low-rate, non-recourse funds. Your construction budget can use our private capital funding for costs which impact energy & water spend, renewable improvements or resiliency measures. The repayment of our capital is made through a long-term special tax assessment on the property, making it transferable with the property.

CIRRUS

We also offer a unique program called CIRRUS Low Carbon which provides a significant rate reduction when you meet a low carbon design specification. The program uses PACE financing, with all of the features that make it a smart capital option yet incentivizes a slightly more efficient design with improved financial returns. Design your building to meet the specification, receive the lower rate, and receive a great promotional package to position your building as a low carbon property.

PACE Financing Expert

New Jersey Managing Director

Stephen Arrivello is our New Jersey Managing Director. Stephen has more than 20 years of real estate experience including finance, development and brokerage with a specialty on acquisition and assemblages of property. He is also the Executive Director of the Community Preservation Alliance. Reach out to him to schedule a meeting and discuss your next project.

Local PACE Programs

Legislation has passed in New Jersey allowing for the implementation of a C-PACE program. This program will be administered by the New Jersey Economic Development Authority (NJ EDA). It is anticipated that retrofits will be the first eligible use offered, followed by new constructions. Guidelines for the Garden State C-PACE program were released on May 29th for public comment. PACE Equity’s team of experts is experienced in navigating projects through developing C-PACE programs. Reach out to your managing director to discuss.

Relevant PACE Equity Case Studies for the State of New Jersey

Here are some recent case studies of projects you might find interesting. We’ve got more project stories that show the many ways we’ve helped deliver PACE financing.