Nebraska Real Estate Developer Incorporates Sustainability Practices, Gets $1.7 Million in PACE Financing

by | Apr 22, 2019

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Manzitto, a Lincoln, Nebraska-based commercial and residential real estate developer, has announced it is receiving $1.7 million in Commercial Property Assessed Clean Energy (C-PACE) funding from Petros PACE Finance, LLC. This marks the first C-PACE project in Lincoln.

The project, which broke ground in February, will incorporate energy saving measures in the construction of the Lincoln Sports Facility, a 92,000-square-foot amateur sports facility. It will include eight basketball courts, which can convert into 12 volleyball courts, along with a 5,000-square-foot athletic training center and will host practice games and regional tournaments for area youth. Energy efficient features include lighting, roofing and windows, along with heating and cooling systems. The Greater Nebraska PACE District is the C-PACE program administrator.

C-PACE is a long-term, fixed-rate financing product secured as a property tax assessment and solves many problems that have historically prevented commercial property owners and developers from investing in energy efficiency or renewable energy improvements.

The project comes amid rapid growth of C-PACE as a financing tool for commercial property owners and developers in Nebraska to boost sustainability and economic development. Nebraska’s first C-PACE deal closed last summer and Petros PACE Finance has seen steady market growth in the state over the past year, closing the nation’s largest C-PACE deal of 2018 in Omaha last December.

The 4th Annual Environmental Leader & Energy Manager Conference takes place May 13 – 15, 2019 in Denver. Learn more here.

 

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