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New Jersey PACE: A New Economic Development Opportunity for Atlantic City

Hosts: New Jersey PACE and The Warwick

When: Thursday, September 4, at 5 p.m.

Where: The Warwick Condominium, S RichmondAve, Atlantic City, NJ 08401

RSVP:  Victoria Zelin or  908-­‐507-­‐3150 / 908-­‐581-­‐8418

About the event:

The Warwick, a 275-­‐unit luxury condominium on the Boardwalk, is planning to arrange New Jersey PACE financing for the replacement of their building energy systems with modern and more efficient units, a roughly $2 million project. In addition, under new legislation which is anticipated for approval this fall, the NJPACE program may be able to extend this financing to include major resiliency improvements for the building, which are estimated to cost another $7 million.

This is just one example of the kind of private investment that NJPACE can bring to Atlantic City.

With the largest concentration of commercial property in the State, the City is in a unique position to witness a boom in clean energy and resiliency financing over the coming decade, as part of its renaissance and rebranding as the high-­‐end resort destination of the New Jersey Shore. Becoming the first major city in New Jersey to implement PACE could strengthen the City’s historic role in “embracing green initiatives and standing at the forefront of the environmental movement,” to quote the former president of the Atlantic City Convention and Visitors Authority.

To learn more: download official Press Advisory from NJPACE