Hyatt Studios, the first to be built in Virginia, is using C-PACE (Property Assessed Clean Energy), a statewide program that allows for a wide variety of energy efficiency and resiliency improvements, to fund $5.5M in building measures. Improvements include energy efficient appliances and HVAC, LED lighting, and low flow plumbing that will provide significant annual energy and water savings.
Rockingham County passed C-PACE in 2024. C-PACE provides eligible property owners with the ability to finance energy efficiency, renewable energy, resiliency, and other measures on their property through loan financing that is secured as a special tax assessment lien. C-PACE funding is long-term, low-cost, non-accelerating, and nonrecourse.
See the press release here.