DALLAS, Aug. 23, 2024 (GLOBE NEWSWIRE) — Lone Star PACE, a leading administrator of Texas’ advertising property appraisal blank energy program, announced that it has helped establish $16. 7 million in C-PACE funding for Garages of America. a luxury car manufacturer garage facility in the Dallas area suburb of Carrollton.
The 125,000-square-foot facility located at 2308 and 2328 Marsh Lane will feature 67 luxury garages, six flexible office units and secure covered parking for up to 120 vehicles. This is the second phase of an existing Garages of America progression located on the adjacent site.
Proceeds from the investment will fund the installation of sustainable building components, energy-efficient windows and walls, LED lighting, HVAC systems, and low-flow plumbing.
The C-PACE announcement allows property owners to offload long-term and financial funding for conservation measures on their projects. Homeowners can use C-PACE to finance renovations or renovations of constructions, 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 turned to Lone Star PACE to manage C-PACE financing for a location in Frisco.
Fred Gans, founder of Garages of America, said, “C-PACE has enhanced our capital and enabled us to embrace sustainability and innovation within Phase 2 of our Carrollton campus. By leveraging this tool, we can implement the latest in technology. technologies that not only reduce our carbon footprint, but also enhance the experience of our unique visitor base. This commitment underscores our commitment to setting new sustainability standards within the luxury garage industry.
About Lone Star PACE One Star PACE is the program administrator for the Commercial Property Assessed Clean Energy (C-PACE) programs for Texas cities and counties. We help local governments, economic progress corporations, chambers of commerce, and industry associations promote business expansion and retention by facilitating C-PACE projects with landowners, PACE lenders, marketers, and other stakeholders. Our goal is to promote sustainability and higher asset value while also making a significant impact on saving money and usage for homeowners.
Media Contact
Olivia Luckemeyer
Lone Star PACE Director of Marketing and Media Relations
Olivia@LoneStarPACE. com