PACE Equity financing is now available in Virginia! After many years in development, Virginia is the 20th state to go live with PACE financing. Arlington County has become the first jurisdiction to offer this unique financing program. Additionally, Loudon County voted 9-0 to begin the framework to offer PACE financing as well.
PACE Equity's financing allows commercial building owners and developers to obtain long-term, fixed rate, non-recourse financing for a wide variety of items. This unique capital helps address capex needs, improve project returns or add renewables to buildings. The capital is then paid back over a long-term special tax assessment on the property. Commercial properties of all types are eligible to participate including hospitality, multifamily, office, industrial, retail and non-profits.
PACE Equity is live on the ground with our local Market Leader Gerry Gurgick. Gerry has been one of the stakeholders leading the charge to bring PACE to Virginia. Interested in learning more or have a potential project in Arlington? Contact us today to understand how it can benefit your development or renovation project.