The Alexandria C-PACE Program is now open!
The City of Alexandria C-PACE Program is an innovative C-PACE Financing program that offers an open-market solution for building owners and developers, and promotes clean energy and economic development in Alexandria, Virginia. The Program enables owners of multifamily, commercial, and industrial properties to obtain low-cost, long-term financing for energy efficiency, renewable energy, water efficiency improvements, resiliency, and stormwater management projects. The C-PACE Financing program is an action identified in Alexandria’s Environmental Action Plan 2040 to achieve the City’s greenhouse gas emission targets and goals.
C-PACE Financing helps property owners overcome financial barriers that discourage investment in energy and water conservation projects to new and existing buildings. Building improvements financed using C-PACE can be completed with no up-front, out-of-pocket cost to property owners and can generate positive cash flow upon completion.
C-PACE loans may extend up to the useful life of the Eligible Improvement with the longest useful life or 30 years, whichever is less. This long repayment period results in cost savings that typically exceed the total cost of the C-PACE loan.
The results may include improved business profitability, an increase in the property value and improved sustainability of the real estate asset.