Press Release
Contact:
Kimberly Johnston
608.729.6900 or 608.516.5653
kjohnston@weccusa.org
FORE Development and Investment Group Implements C-PACE Financing in New Downtown Appleton Apartment Project
Madison, WI (December 16, 2019) Avant Apartments is the next up-scale development coming to downtown Appleton, scheduled for completion in Summer 2020. The new 33-unit multi-family property will be located at 118 North Durkee Street, close to Lawrence University. It will offer its residents all the conveniences of living in the growing downtown area.
With a focus on energy savings, Avant Apartments secured $590,000 Commercial PACE (C-PACE) financing through McFarland State Bank. This financing will help support building efficiency by allowing the implementation of thermal protection wall upgrades and roof/slab; windows and window treatments; HVAC and PTAC; LED lighting (interior and exterior); and low flow faucets, showers, and heaters. The investment in these measures are predicted to lower occupancy costs and improve the comfort of resident living spaces.
“FORE Development came to us early in the process as they specifically designed this apartment building to not only maximize the efficiency of the space in each unit, but also to maximize the energy efficiency of the building as a whole. With that in mind, PACE financing played a key role in the capital stack and we were happy to play a role in their project,” noted Dan Carey, McFarland State Bank, Vice President of Commercial Lending.
FORE Development and Investment Group’s, Tom Klister explained, “PACE Wisconsin provided us an opportunity to integrate high quality, energy efficient building materials into this project through their unique financing program.”
Commercial PACE financing is good for property owners, local economy and the environment. Nadine Miller, PACE Wisconsin board member, representing Outagamie County shared the community’s perspective, “This project’s economic development benefits our county by increasing the tax base, and its sustainability improvements enhance our community.”
Jason Stringer PACE Wisconsin, Program Administrator shared, “PACE Wisconsin is pleased to contribute to the redevelopment efforts underway in downtown Appleton, Wisconsin. PACE financing is an innovative public - private partnership that helps Wisconsin local governments lower the cost of doing business, drive economic development and improve the building stock at no cost to tax payers.”
Kimberly Johnston
608.729.6900 or 608.516.5653
kjohnston@weccusa.org
FORE Development and Investment Group Implements C-PACE Financing in New Downtown Appleton Apartment Project
Madison, WI (December 16, 2019) Avant Apartments is the next up-scale development coming to downtown Appleton, scheduled for completion in Summer 2020. The new 33-unit multi-family property will be located at 118 North Durkee Street, close to Lawrence University. It will offer its residents all the conveniences of living in the growing downtown area.
With a focus on energy savings, Avant Apartments secured $590,000 Commercial PACE (C-PACE) financing through McFarland State Bank. This financing will help support building efficiency by allowing the implementation of thermal protection wall upgrades and roof/slab; windows and window treatments; HVAC and PTAC; LED lighting (interior and exterior); and low flow faucets, showers, and heaters. The investment in these measures are predicted to lower occupancy costs and improve the comfort of resident living spaces.
“FORE Development came to us early in the process as they specifically designed this apartment building to not only maximize the efficiency of the space in each unit, but also to maximize the energy efficiency of the building as a whole. With that in mind, PACE financing played a key role in the capital stack and we were happy to play a role in their project,” noted Dan Carey, McFarland State Bank, Vice President of Commercial Lending.
FORE Development and Investment Group’s, Tom Klister explained, “PACE Wisconsin provided us an opportunity to integrate high quality, energy efficient building materials into this project through their unique financing program.”
Commercial PACE financing is good for property owners, local economy and the environment. Nadine Miller, PACE Wisconsin board member, representing Outagamie County shared the community’s perspective, “This project’s economic development benefits our county by increasing the tax base, and its sustainability improvements enhance our community.”
Jason Stringer PACE Wisconsin, Program Administrator shared, “PACE Wisconsin is pleased to contribute to the redevelopment efforts underway in downtown Appleton, Wisconsin. PACE financing is an innovative public - private partnership that helps Wisconsin local governments lower the cost of doing business, drive economic development and improve the building stock at no cost to tax payers.”