From Yahoo Finance · · 50s
NYC C-PACE Loans Grow for Retrofits
New York's C-PACE rules boost loans for retrofits and conversions.
In brief
New York's C-PACE rules boost loans for retrofits and conversions. New York's C-PACE overhaul increases loan sizes by 40% and adds embodied carbon as a financing factor for adaptive reuse projects. Originally reported by Yahoo Finance.
New York C-PACE Rules Update
New York City's C-PACE administrator adopted loan-to-value underwriting instead of cost-based formulas.
40% Larger Loans Possible
Loan sizes could increase by roughly 40% for qualifying projects under new rules.
Embodied Carbon Now Eligible
Embodied carbon emissions now qualify for C-PACE financing, helping adaptive reuse projects.
Tranches for Larger Projects
Lenders can disburse funds in tranches instead of a single payment at closing.
Nuveen Green Capital
Nuveen Green Capital has closed over $7 billion in C-PACE deals nationwide.
State Legislation Next
State legislation awaits governor's signature to codify changes citywide.
The short version
New York's C-PACE overhaul increases loan sizes by 40% and adds embodied carbon as a financing factor for adaptive reuse projects.
