Summary
The Zen, located in the burgeoning NuLu district of Louisville, is a planned 45,300-square-foot mixed-use property uniquely blending renovated existing and new-build luxury apartments. Alongside the luxury residential units, The Zen will provide modern flex-office space, as well as restaurant and retail space. Once complete, The Zen will bring exciting new residential, dining, and workplace options to NuLu, recently recognized as one of “The Best Food Neighborhoods in the USA.”
C-PACE Opportunity
NGC provided $5.4 million in C-PACE financing for energy and water efficiency improvements at The Zen. This mid-construction financing allowed repeat sponsor Zyyo, a New York-based developer, to preserve capital while cost-effectively funding both the adaptive reuse and new construction elements of the project. Through C-PACE, Zyyo will reduce long-term operating expenses and enhance the property’s competitive position in the market.
