As part of the 2018 Maryland Clean Energy Summit, Ethan Elser, Sr. will be speaking on an October 8th panel called New or Used: PACE Financing for New Construction vs. Adaptive Reuse as part of the Mid-Atlantic PACE Alliance (MAPA) Regional Forum.
PACE Equity financing can be used to fill the capital stack for new construction projects as well as those marked for adaptive reuse. Ethan will showcase recent projects where PACE Equity funding was applied to both project types. He will also discuss nuances in project planning that apply when project developers and owners want to consider PACE Equity funding in the capital stack.
PACE Equity Financing Lowers Project Costs for Developers & Owners
PACE Equity pioneered the use of PACE financing in ground-up new construction with a Marriott-flagged hospitality in the Midwest two years ago. This project incorporated PACE Equity financing with a capital stack that included mortgage debt and developer equity and accounted for 10% of the total project cost.
We have also applied PACE Equity financing to a number of ground-breaking adaptive reuse cases, including this historic former office location transformed into loft-style apartments. In this case, PACE Equity financed twelve percent of the total project cost.
Ethan Elser, VP of PACE Equity, will join three other panelists to discuss these and other projects and weigh in on the advantages of using PACE Equity capital to for new construction and adaptive reuse projects. With its lower cost of capital than mezzanine and other sources, this is often a lesser-known but provides a boost to IRR for owners and developers.
More About the Conference & Forum
The Maryland Clean Energy Summit is dedicated to showing energy professionals and other attendees what is possible to help them streamline energy use to lower costs and enhance sustainability. The forum will explore how to capture savings and upgrade facilities with extended terms, cost-effective capital, and low up-front costs. Registration for the event is open now.
You can also schedule a meeting with PACE Equity at the event by clicking here and mentioning the Clean Energy Summit in your inquiry.