A faith-based institution in Manhattan, with a building exceeding 30,000 square feet, is undertaking a comprehensive sustainability retrofit supported by $12.96 million in C-PACE financing from PACE Equity. Closed in November 2024 as part of a broader $42 million capital project, the financing enables a wide range of energy and building system upgrades, including partial electrification through heat pump installation, advanced building controls, LED lighting, high-efficiency windows, and enhanced roof insulation.
This project highlights how C-PACE can support mission-driven organizations in modernizing aging facilities while advancing long-term energy and operational goals. Structured over an approximately 19-year term, the financing aligns repayment with the life of the improvements and is expected to generate significant cost savings, including more than $200,000 annually in operations and maintenance reductions. By leveraging C-PACE to fund critical upgrades, the institution is improving building performance, reducing energy use, and positioning itself for long-term sustainability while preserving resources for its core mission.