Page 14 - DEC2022

doing a
Developers and Owners are

Doubletake

on Texas PACE

By Autumn Radle

ow utility costs and easy access to capital are fast becoming
fond memories as developers are forced to seek alternative
sources of capital. Commercial property owners across Texas
are taking a second look at Texas Property Assessed Clean
Energy Programs (TX-PACE) to fill gaps in capital stacks.
L In 2022, TX-PACE-facilitated energy and water-saving
investments in commercial, industrial,
and multifamily properties that
have already exceeded $139
million. The use of TX-PACE is
facilitating the redevelopment
and repurposing of existing
buildings as well as enabling
new construction projects to
finance high-performance
improvements that exceed
code requirements to meet
investors’ ESG and risk
management demands.

14 NBIZ ■ December 2022