DALLAS, Aug. 23, 2024 (GLOBE NEWSWIRE) — Lone Star PACE, lead administrator of the Assessed Clean Energy Program for Texas Commercial Properties, announced it has helped establish $16. 7 million in C-PACE investment for Garages of America . a luxury car manufacturer. Storage facility in the Dallas suburb of Carrollton.
The 125,000-square-foot facility located at 2308 and 2328 Marsh Lane will feature 67 luxury garages, six flexible workplaces and secure covered parking for up to 120 vehicles. This is the second phase of an existing Garages of America progression located at the adjacent site.
Proceeds from the financing will fund the installation of sustainable building components, energy-efficient windows and walls, LED lighting, HVAC systems, and low-flow plumbing.
C-PACE provides advertising asset owners with affordable, long-term financing for conservation measures on their projects. Homeowners can use C-PACE to finance construction renovations, renovations, or new construction.
Established in 2014 through longtime friends and real estate professionals Fred Gans and Jack Griffin, Garages of America is the premier network for automobile collectors. The concept temporarily grew to include locations in DFW, Houston and Austin. The developers recently hired Lone Star PACE. to manage C-PACE investment for a location in Frisco.
Fred Gans, founder of Garages of America, said, “C-PACE has enhanced our capital base and enabled us to embrace sustainability and innovation within Phase 2 of our Carrollton campus. By leveraging this tool, we can implement cutting-edge technologies that not only reduce our carbon footprint, but also enhance the experience of our unique visitor base. This commitment underscores our determination to set new sustainability standards within the luxury garage industry.
About Lone Star PACE One Star PACE is a program manager for Commercial Property Assessed Clean Energy (C-PACE) systems in Texas cities and counties. We help local governments, economic progress corporations, chambers of commerce and industry associations promote business expansion and retention. facilitating C-PACE projects with landowners, CAPC lenders, contractors and other stakeholders. Our purpose is to promote sustainability and greater asset value while ultimately impacting money and application savings for homeowners.
Media Contact
Olivia Luckemeyer
Director of Marketing and Media Relations at Lone Star PACE
Olivia@LoneStarPACE. com