new-construction-pace

23Sep 2019

PACE Equity Funds New Detroit Cambria Hotel, the First New Construction and Largest PACE Project in Michigan

PACE Equity funded $7 million in capital for a 154-room Cambria hotel in downtown Detroit, a new construction and partial redevelopment project that transforms an underutilized building and contributes to the connectivity on the west side of Downtown Detroit’s Central Business District. The project is notably the first Cambria hotel to enter the […]
30Jul 2019

PACE Equity Funds Low Cost Capital for Select Service Hotel

Utilizing its dedicated fund, PACE Equity provided $2.3 million in capital for the construction of a new SpringHill Suites by Marriott, a 120-key hotel in Tallahassee, Florida that is part of the expanding select service segment of the hotel industry. Select service hotels have been gaining popularity with developers due to their high consumer […]
16Jul 2019

Kansas City’s Historic Flashcube Building Redevelopment Utilizes PACE Equity Funding to Complete Capital Stack

PACE Equity completed funding as part of a complex capital stack for the redevelopment of downtown Kansas City’s iconic Flashcube building. The former Executive Plaza Office Building, which sat vacant for over 12 years, features a 184-unit multi-family luxury apartment and 35,000 square feet of commercial space for office and retail tenants. The […]
27Jun 2019

PACE Equity Deal First in Nation to Combine PACE Funding and an Opportunity Zone Fund

PACE Equity recently completed funding $4.3 million for the construction of a new Hyatt House hotel in Rochester, Minnesota. It is notably the first Opportunity Zone fund project in the nation to include PACE funding to date. The new federal Opportunity Zone program, part of the December 2017 Tax Cuts and Jobs Act, was established to spark […]
30May 2018

PACE Equity Funds First New Construction CPACE Project in PACE Wisconsin Program

PACE Equity recently completed PACE funding for the development of a new construction multifamily project in Verona, WI, just outside Madison, called Velocity Apartments. This represents the first new construction project approved by the PACE Wisconsin program. The $5.5m capital stack and consisted of a construction loan, developer equity and PACE […]

 


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