Chicago PACE facilitates the construction or gut rehabilitation of commercial properties with improved building performance by providing capital at rates and terms superior to mezzanine debt and/or preferred equity.
PACE is an invaluable source of capital for developers of new construction and gut rehabilitation projects, capable of reducing developer equity and driving stronger returns.
PACE in the capital stack can reduce weighted average cost of capital by replacing expensive mezzanine financing.
PACE can bring projects across the finish line by helping to secure additional, not to mention permanent, financing during the construction phase.
For developers interested in bringing to market the highest quality product, PACE financing can help ensure that energy efficient and renewable features remain integral and well-funded parts of the construction plan.
Projects featuring energy-saving and renewable measures help meet community sustainability standards and in the case of gut rehabilitation, are particularly valued for their ability to re-deploy community resources.