Page 17 - NBIZ August 2020

Using the Houston PACE program to finance needed
HVAC and LED lighting eliminated cash flow issues and
increased the property’s value. The completed project is
reducing utility consumption by 38%. The lasting benefits
of steadier budgets, more comfortable work environments
and diminished equipment emergencies are positively
impacting owners and tenants. The TX-PACE improve-
ments avoid over 805 tonnes of CO2 emissions in Houston
annually through reduced energy use.
Rachel Davis, senior vice-president of sales, Petros
PACE Finance, states, “Our first transaction in Houston
for the $1.3M retrofit of 1225 North Loop, an 11-story
office tower, is a perfect example of how Commercial
Property Assessed Clean Energy (C-PACE) can boost
sustainability and returns for building owners by funding 1225 North Loop Building
upgrades to the property’s aging mechanical and lighting $1.3M Retrofit – Houston, Texas
systems and generating $3.7 million in cumulative utility A perfect example of how Commercial Property Assessed Clean
and operational savings.” Energy (C-PACE) can boost sustainability and returns for building
“Our priority was the mechanical equipment upgrade,” owners by funding upgrades to the property’s aging mechanical and
explains Property Manager Seth Eslami. “The efficiency lighting systems and generating $3.7 million in cumulative utility and
component was just an added benefit. I am hopeful that operational savings.

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