Assembling the capital needed to develop commercial and industrial properties is increasingly challenging and expensive. C-PACE new construction financing can help provide capital to new construction, repositioning, and gut renovation projects. This innovative tool provides accessible and affordable financing for developers and owners by leveraging the proven success of C-PACE (Commercial Property Assessed Clean Energy), a financing solution where energy improvements are repaid through an assessment placed on the property, to help build more cost-effective, competitive, and higher performing buildings.
C-PACE new construction financing allows developers to:
- Complete their capital stack and lower their weighted average cost of capital with access to affordable, long-term financing that may take the place of more expensive debt and equity. Up to 35 percent of eligible costs is available through C-PACE new construction financing for terms up to 25 years.
- Incorporate familiar clean energy technologies that support state policy goals and lead to more modern buildings – such as electric vehicle charging stations, battery storage systems, high-efficiency heat pumps and heat pump water heaters, fuel cells and solar photovoltaic systems – in order to increase the amount of eligible costs and unlock additional financing (up to a maximum of 35 percent of eligible costs).
- Develop buildings that are more cost-effective, comfortable, and competitive. With C-PACE new construction financing, developers can afford more efficient and higher quality materials and systems, boosting a project’s long-term sustainability and creating a more attractive investment.
- Invest with confidence. The Green Bank’s Technical Administrator will conduct an independent review of the energy modeling and projected energy performance.
Not doing a new construction, repositioning, or gut renovation project? Visit the Building Owner section of the C-PACE website to learn how C-PACE can help with retrofit financing.
Or are you a contractor developing energy saving projects in existing buildings? Visit the Contractor section of the C-PACE website.
Learn more about how C-PACE new construction financing can help you complete your capital stack and build better buildings.