North Central Texas Council of Governments (NCTCOG) named Lone Star PACE administrator of its newly launched Commercial Property Assessed Clean Energy (C-PACE) program, marking a significant step toward expanding sustainable development across the rapidly growing North Texas region.
C-PACE is an innovative financing mechanism that enables commercial property owners to fund energy efficiency, water conservation and renewable energy improvements through long-term, fixed-rate financing repaid via a voluntary property assessment. This approach allows property owners to undertake substantial building upgrades without upfront capital, often resulting in improved cash flow and increased property value.
Lee McCormick, President of Lone Star PACE, said: “We are honored to partner with NCTCOG in bringing a unified C-PACE program to North Texas. This regional approach simplifies access to sustainable financing, fostering economic development and resource conservation across multiple jurisdictions.”
The introduction of a regionwide C-PACE program is poised to deliver significant sustainability benefits. By facilitating energy and water efficiency upgrades, the NCTCOG program supports the conservation of vital natural resources that are experiencing record-high demand due to North Texas’s rapid population growth and influx of corporate relocations.
For municipalities, the regional C-PACE program presents an opportunity to stimulate local economies without relying on taxpayer dollars. By enabling private investment in private buildings, cities and counties can drive job creation, enhance the local tax base and promote environmental stewardship.
Susan Alvarez, Director of Environment & Development for NCTCOG, said: “We look forward to expanding PACE resources in the NCTCOG region!”
Property owners stand to benefit from reduced operating costs, improved building performance and access to investment-grade capital that can be used for a wide range of eligible improvements, including HVAC systems, lighting, insulation, solar panels and water conservation measures.
Lone Star PACE brings extensive experience to its role as program administrator, having facilitated more than $330 million in C-PACE assessments for projects totaling $1.5 billion across Texas. The firm’s collaborative approach involves working closely with local governments, property owners, capital providers and senior lenders to ensure successful project implementation.
If you’re a property owner or developer exploring creative ways to strengthen your capital stack, improve sustainability or unlock liquidity, your project could be a fit for C-PACE. Contact Lone Star PACE today to get started.