PACE Equity for the redevelopment of two former NASA research facilities in Cleveland, OH. Built in 1963, the “K” and “L” NASA buildings honor President John F. Kennedy and Director of Aeronautical Research George W. Lewis. Work conducted here played an integral role in the launch of the Apollo space exploration programs. The buildings have stood vacant for several years.
With $8.5 million in C-PACE funds in a $42 million capital stack, PACE Equity worked over 18 months to help assemble financing including historic tax credits, TIF financing, grants, all the while dealing with the challenges related to the COVID-19 pandemic.