The property elected to use $9.4M in C-PACE financing to help fill a gap in the development capital stack. C-PACE will be utilized to finance an energy efficient building envelope.
The former industrial land at 835 W Goodale Street in Grandview Heights, OH, just outside Columbus, is the site of a new 260-unit multi-family development project by Elford Development.
We were very pleased to include C-PACE in the development capital stack as it reduced our equity need, and was accretive to our ROI. The Nuveen Green Capital team was a pleasure to work with – efficiently guiding us through our first C-PACE project in addition to getting a new municipality opted in to the C-PACE program.