KANSAS CITY, MO.—Josh Smith, Senior Transaction Counsel for CleanFund Commercial PACE Capital in Sausalito, Calif., is seeing changes in how hotel developers finance their efficiency projects and that is good news for the environment and hoteliers alike.
Executives from CleanFund Commercial PACE Capital offer insights into a steadily expanding financing option.
Urban Land Magazine: Use of PACE Financing for Renovations, Construction Growing for Commercial Buildings
Last December, a pharmaceutical company in Silicon Valley received $8.65 million to pay for renovations to make its research and administrative facility in Fremont, California, more energy efficient. But the money was not a loan, and it wasn’t a grant.
The latest PACE funding of an energy-efficient project at the new Verseon research and administrative facility will help fund energy-related improvements as part of an overall facility refurbishment.