Financing Green Property Improvements In Chicago Is About To Get Easier
Some landlords may consider energy-efficient infrastructure to be expensive, but a low-cost financing program for such improvements is available in more than 30 states, and Chicago’s program, which launched in April 2019, is about to expand.
Called Commercial Property Assessed Clean Energy, or C-PACE, it allows owners and developers to access long-term financing from private capital that pays for green systems, creating long-term savings on energy and water costs.
“Up to this point, it’s been a pilot program,” Loop Capital Managing Director Jana Wesley said last week during Bisnow’s Chicago Deep Dish: C-PACE webinar. The company, in a joint venture with Counterpointe Energy Solutions, administers the city’s C-PACE program on behalf of the Chicago Department…
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