The 111 Wall Street project in New York City, financed by Petros PACE Finance, pioneered the first transaction in the City’s long-delayed C-PACE program. The former bank headquarters used $89 million in C-PACE proceeds as part of a $500 million makeover, the largest project in the industry when the project closed.
“This transaction is a transformational event for the C-PACE industry because it officially launches potentially the largest C-PACE market in the country, New York City.”
Mansoor Ghori, CEO
Petros PACE Finance
The Indian Nations Council of Governments (INCOG’s) Oklahoma C-PACE Program designed an easy-to-use C-PACE program for any county in Oklahoma, and INCOG closed its first transaction within a couple of months of launch, among the fastest starts C-PACE Alliance is aware of.
“The C-PACE program is a great economic development tool that doesn’t increase county government cost to the taxpayers.”
The One Park Road project in Connecticut, funded by CastleGreen Finance, allowed the Sisters of St. Joseph to continue to own and occupy one wing of its historic convent, while converting the remainder of the property into a mix of market-rate and affordable housing. C-PACE financing reduced the cost of capital and saves over 30% in total energy usage as compared to the state building code.
The Elevation Workspace in St. Louis, Missouri, financed by Twain Financial Partners, aspires to break down barriers that segregate neighborhood racially and economically by offering affordable office space in a mixed-use facility primarily for minority-owned businesses.
“We are excited to be part of building what we hope is a true center point for the community by providing spaces to live, work, dine, shop, and gather.”
Karl Koch, Business Development Officer
Twain Financial Partners
The Vortex Cold Storage Warehouse in Alberta Lea, Minnesota, financed by PACE Equity, is notable because the commercial refrigeration industry uses enormous amounts of electricity. Design engineers suggested a new refrigeration technology with an incremental cost of $1 million and a six-year return on investment, while saving over 1,500 metric tons of carbon emissions annually.
“PACE Equity’s ability to come up with fast adjustments and effective solutions was excellent. Those are the difference makers.”
Connor Wray, Co-Founder
Vortex Cold Storage
Amy Wheeless and the Shift Zero coalition for their grassroots organizing and political strategizing for the passage of C-PACE statutes in the State of Washington. Shift Zero’s local relationships and CPA’s national expertise complemented each other’s strengths throughout the multi-year journey. One of the first projects using C-PACE was the Historic Lodge, St. Edward State Park.