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Building Owner Talking About Commercial PACE Program

When a company is looking to buy or lease space in a commercial building in the region, location remains a key feature, but factors like energy savings and sustainability are moving up the list.

Building owners are retrofitting their properties, installing new technology to reduce energy bills and incorporating equipment that has a smaller impact on the environment.

Stamford Mayor Michael Pavia is expected to announce next week that the city is joining the Commercial & Industrial Property Assessed Clean Energy (C-PACE) program, which will give building owners in the state’s third-largest city an ally in their efforts to be “green.”

The Clean Energy Finance Investment Authority works with banks allied with the statewide C-PACE program to help building owners get financing for efficiency upgrades with little or no upfront costs, and the loan can be repaid through an assessment on their property tax bill. The program’s first project, announced by last month, provided funding for a $285,000 electricity upgrade to a Norwalk shopping plaza that houses The Edge Fitness ClubBow Tie Cinema and Bed, Bath & Beyond. Read more.