PACE Equity provides financing for achieving your property or development needs. Since there are several requirements to provide this financing, PACE Equity can handle those for you if you don't wish to. We've developed a proprietary turnkey solution for smoothly delivering funding. We do this by completing energy engineering, securing approvals, and managing projects to facilitate easier, faster funding for your development or building.
The redevlopment and new construction plan totaled $33 million, creating a 5-story, 106,000 square foot Class A office space overlooking the Milwaukee River. The PACE Equity portion of the project accounts for over $2.2 million of the total scope.
PACE Equity is experienced in providing owners and developers representation having worked on 125 projects. PACE Equity will set objectives for the project and manage the project around achieving those objectives.
We will manage the approvals process to receive mortgage lender consent, program approval and a commitment to financing for your project. These approvals are key requirements for closing on a PACE project and are often some of the most challenging items to complete.
We've developed and implemented building improvement projects throughout the U.S. and have played a major role in developing PACE markets across the nation. We have an active relationship in all PACE districts.
At the beginning of the project development lifecycle, PACE Equity analyzes the building to build the business case, which includes a description of scope (energy savings measures) along with estimated savings.
In PACE markets that require guarantees, PACE Equity will guarantee the energy performance of projects. Our objective is to reduce the risk associated with the energy savings, and the corresponding cost of the guarantee.
Depending on the complexity of the project, PACE Equity will develop building energy usage models to determine the most effective combination of measures to implement. This is generally an ASHRAE II-III Investment Grade Audit.
PACE Equity obtains rebates and incentives to improve project economics for our clients. We have extensive experience working with local utilities throughout the U.S. to obtain both custom and prescriptive rebates.
When working with PACE Equity's turnkey service, clients are eligible to have all pre-closing costs covered by PACE Equity and included in the PACE financing. This capability provides a unique advantage to building owners and developers as there are truly zero out of pocket costs to develop projects.
PACE Equity has raised $300m of dedicated funds for financing PACE projects. We can provide commitments to fund the project during the project development process.