An innovative car storage concept sweeping the state of Texas received a second round of C-PACE debt for Phase 2 of its facility in the north Dallas suburb of Carrollton. Lone Star PACE facilitated the $16.7M financing for Garages of America, which offers customizable garage suites for sale. The 125,000-square-foot facility includes 67 garage suites, six flex-office units and a secure indoor parking facility for up to 120 vehicles.
Impact
By obtaining C-PACE financing, the property owner was able to upgrade the building’s envelope, HVAC, plumbing, lighting systems & controls, which enabled Dallas County to further its sustainability and economic development goals while reducing demand on the Texas electrical grid.
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