Lafayette, CO—Colorado C-PACE announced today that Milender White will leverage C-PACE financing to install roof-mounted solar panels on its new development, Bluebird Market, a 29,000 SF market hall and events facility located at 325 Blue River Parkway in the new heart of downtown Silverthorne, Colorado. This is the twentieth project closing this year for Colorado’s C-PACE program.
Tim Fredregill, Development Executive at Milender White, said, “We’ve been trying to find a way to utilize C-PACE financing for a while, and we were able to find the perfect application here at Bluebird Market in Silverthorne. We like the long-term financing and minimal cash impact to ownership. The environmental benefits are great not only for the planet, but also from a marketing perspective. The C-PACE team worked with us throughout this process and really made this easy for us. We couldn’t be more thrilled with the outcome, and what it brings to the overall development here in Silverthorne.”
Greenworks Lending, a national provider of C-PACE financing, provided $650,000 for the 200kW solar PV array on the roof of the new market hall. “We are so excited to work with Tim on the construction of the Bluebird Market solar PV project,” said Sean Ribble of Greenworks Lending. “The Colorado C-PACE Program and Summit County have shown real leadership in utilizing C-PACE as a tool to encourage developers to incorporate renewable energy improvements as a part of their buildings. Everyone benefits—the owners, the tenants, the community, and the environment.”
About Colorado C-PACE
A program of the New Energy Improvement District (NEID), administered by Sustainable Real Estate Solutions, Colorado C-PACE facilitates financing for energy and water improvements in new and existing commercial buildings, including new heating/cooling systems, lighting, water pumps, insulation, and renewable energy projects. C-PACE offers long-term financing that covers 100 percent of the project cost and is repaid over a period of up to 25 years. The payments are structured as a regular line item on the property tax bill. When a property is sold, the C-PACE assessment can stay with the property and transfer to the new owner, who enjoys the ongoing utility cost savings associated with the project.
About Milender White
Milender White is a full-service real estate company dedicated to delivering outstanding results on every project, unsurpassed service to clients, superb career opportunities – with a total commitment to safety, quality and integrity. We proudly deliver award-winning commercial and residential projects based on proven systems, advanced technology, and cutting-edge design development. Visit us at www.milenderwhite.com.
Sustainable Real Estate Solutions (SRS) partners with state and local governments to administer commercial property assessed clean energy (C-PACE) programs. Founded in 2010 by experienced commercial real estate and energy efficiency professionals, the company’s proprietary technology-enabled EPIC™ Tool streamlines the management of the data-intensive C-PACE technical and financial underwriting process. SRS’s Investor Confidence Project-credentialed quality assurance methodology has facilitated more than $400 million in C-PACE financing nationwide. SRS empowers C-PACE public-private partnerships across the country. The company is based in Trumbull, Connecticut.