Property summary
4002-22 Ridge Avenue is a planned five-story, 86,500 square foot, 756 unit self-storage facility located in the East Falls neighborhood of Philadelphia. Ridge Storage, as designed, is expected to be 34% more energy efficient than required by Philadelphia’s building energy code.
Opportunity
4002-22 Ridge Ave II, LLC was able to utilize $3,083,268 in C-PACE financing from Nuveen Green Capital to fund HVAC, lighting, building envelope and plumbing systems. C-PACE financing is projected to contribute to the annual reduction of 127,285 pounds of CO2.
Working with Nuveen Green Capital to originate our C-PACE funding mid-construction solved an important shortfall and allowed us to proceed without interruptions. The Nuveen Green Capital team went the extra mile at every opportunity; helping bring both our mortgage lender and investors on board and compromising to get the deal done. I highly recommend Nuveen Green Capital to other developers looking for a C-PACE partner with the experience and resources to lead the way through this complex process.
