First New Construction PACE Project in Illinois

301 Main Street Apartments | Rockford, IL

Multifamily new construction project captures the growth of the housing market in the underserved municipality.

The state of Illinois enabled PACE legislation in 2017, and this project is the first new construction project in the state to leverage the benefits of PACE funding. The project benefitted from a capital stack with a lower weighted average cost of capital as PACE Equity funded 22% of the capital stack.