What makes C-PACE New Construction such a strong competitive advantage for commercial property developers?
C-PACE New Construction in an innovative financing mechanism that benefits commercial property developers in a number of ways. Learn more about the ways C-PACE puts developers in control of their investments.
Structure investments with immediate and long-term value.
Developers shouldn’t let short-sighted thinking and “value engineering” undermine their building’s long-term economic and environmental competitiveness and sustainability. C-PACE New Construction enables developers to better structure their investment and ensure extended viability of their buildings. It can help conserve equity, reduce cost of capital and empower developers to construct buildings that stand out against the competition. Building smarter buildings today can result in investments with greater longevity and stronger returns in the future.
Bring higher performing buildings within reach.
C-PACE New Construction financing helps pay for a variety of costs directly related to a building’s design and construction. These costs may include (but are not limited to) engineering and design expenses, energy modeling, building core and shell, and equipment or measures that consume and save energy (e.g. HVAC, lighting, elevators, controls, windows, green or cool roofs, meters and other green energy measures). Nearly any property type — commercial, industrial, office, retail, nonprofit, multifamily — can benefit from C-PACE New Construction financing. Projects involving historical buildings are also eligible to apply.
Invest with confidence.
Developers using C-PACE New Construction will demonstrate, using whole-building energy modeling, that a building’s performance will exceed a code-compliant baseline by at least 10 percent. Meeting that 10 percent target will make a building eligible for C-PACE financing of 10 percent of the total eligible construction cost (TECC). The Connecticut Green Bank will work with an independent Technical Administrator to determine the TECC, and review modeling details and projected energy performance. For each 1 percent improvement beyond the threshold 10 percent, an additional 1 percent of TECC will be eligible for financing (up to a maximum of 20 percent).