--- title: Mid-Construction Use of C-PACE Creates Liquidity description: Case study of C-PACE financing for mid-construction multifamily project, Poway, California. image: https://blog.counterpointesre.com/hubfs/poway%20with%20rendering%20inset-1.jpg --- (855) 431 4400 [Contact Us](https://counterpointesre.com/contact-us)   [![CSRE Header Logo](https://blog.counterpointesre.com/hs-fs/hubfs/CSRE%20Header%20Logo.png?width=327&name=CSRE%20Header%20Logo.png)](https://counterpointesre.com/)   - [About](https://counterpointesre.com/company-overview/) - [Bridge Mortgage](https://counterpointesre.com/bridge-loan/) - [Commercial PACE](https://counterpointesre.com/csre/about-pace-financing/) - [Transactions](https://counterpointesre.com/transactions/) - [Contact Us](https://counterpointesre.com/contact/)   [![GET A QUOTE](https://no-cache.hubspot.com/cta/default/4293815/2f34dd70-43b2-4d05-aeb9-1025a253aec3.png)](https://cta-redirect.hubspot.com/cta/redirect/4293815/2f34dd70-43b2-4d05-aeb9-1025a253aec3)    [![APPLY NOW](https://no-cache.hubspot.com/cta/default/4293815/537d754d-e929-4862-adaa-c5f03432e6d6.png)](https://cta-redirect.hubspot.com/cta/redirect/4293815/537d754d-e929-4862-adaa-c5f03432e6d6)    [![LOGIN](https://no-cache.hubspot.com/cta/default/4293815/853d848f-e229-4428-9f62-51961c7160b2.png)](https://cta-redirect.hubspot.com/cta/redirect/4293815/853d848f-e229-4428-9f62-51961c7160b2)      [![CSRE Header Logo](https://blog.counterpointesre.com/hs-fs/hubfs/CSRE%20Header%20Logo.png?width=327&name=CSRE%20Header%20Logo.png)](https://counterpointesre.com/)   - [About](https://counterpointesre.com/company-overview/) - [Bridge Mortgage](https://counterpointesre.com/bridge-loan/) - [Commercial PACE](https://counterpointesre.com/csre/about-pace-financing/) - [Transactions](https://counterpointesre.com/transactions/) - [Contact Us](https://counterpointesre.com/contact/)   [![GET A QUOTE](https://no-cache.hubspot.com/cta/default/4293815/2f34dd70-43b2-4d05-aeb9-1025a253aec3.png)](https://cta-redirect.hubspot.com/cta/redirect/4293815/2f34dd70-43b2-4d05-aeb9-1025a253aec3) [![APPLY NOW](https://no-cache.hubspot.com/cta/default/4293815/537d754d-e929-4862-adaa-c5f03432e6d6.png)](https://cta-redirect.hubspot.com/cta/redirect/4293815/537d754d-e929-4862-adaa-c5f03432e6d6) [![LOGIN](https://no-cache.hubspot.com/cta/default/4293815/853d848f-e229-4428-9f62-51961c7160b2.png)](https://cta-redirect.hubspot.com/cta/redirect/4293815/853d848f-e229-4428-9f62-51961c7160b2)      [![CSRE Header Logo](https://blog.counterpointesre.com/hs-fs/hubfs/CSRE%20Header%20Logo.png?width=327&name=CSRE%20Header%20Logo.png)](https://counterpointesre.com/)   - Menu - [About](https://counterpointesre.com/company-overview/) - [Bridge Mortgage](https://counterpointesre.com/bridge-loan/) - [Commercial PACE](https://counterpointesre.com/csre/about-pace-financing/) - [Transactions](https://counterpointesre.com/transactions/) - [Contact Us](https://counterpointesre.com/contact/) Adam Lipkin on November 20, 2020 # Mid-Construction Use of C-PACE Creates Liquidity --- ![cpace-creates-liquidity-for-mid-construction-project---jpg](https://blog.counterpointesre.com/hs-fs/hubfs/cpace-creates-liquidity-for-mid-construction-project---jpg.jpg?width=1400&name=cpace-creates-liquidity-for-mid-construction-project---jpg.jpg)C-PACE programs encourage and incentivize the integration of energy-saving and renewable infrastructure in the built environment through long-term low-cost financing. Traditionally PACE financing is accessed for retrofits and new construction, but the development stage of a project isn't limited to future work.  PACE financing can be applied to completed and mid-construction projects, which makes it an extremely useful tool for projects that are experiencing cost overruns such as those experiencing delays and increased costs due to the COVID-19 public health crisis.   | The Poway Outpost, a 53-unit Class AAA luxury multifamily and retail project under development in Poway, California, a San Diego suburb, recently secured $13.7 million in mid-construction C-PACE financing from CounterpointeSRE. The project experienced cost overruns from unexpected groundwater issues and increased expenses attributed to the COVID-19 crises. With project specifications that included significant seismic resiliency work (a measured covered in California) and traditional  PACE-qualifying elements of HVAC, LED lighting, water conservation, and building envelope measures, the developer was well positioned to recapitalize a portion of the project with C-PACE.  Read more by clicking the [case study](https://blog.counterpointesre.com/hubfs/CaseStudies/CSRE/CSRE%20CASE%20STUDY_POWAY_Retroactive_NewConstruction.pdf) image at right.  | [![preview image poway case study](https://blog.counterpointesre.com/hs-fs/hubfs/preview%20image%20poway%20case%20study.png?width=147&name=preview%20image%20poway%20case%20study.png)](https://blog.counterpointesre.com/hubfs/CaseStudies/CSRE/CSRE%20CASE%20STUDY_POWAY_Retroactive_NewConstruction.pdf) | | --- | --- | --- ADVANTAGES TO USING PACE FOR RECENTLY COMPLETED OR MID-CONSTRUCTION PROJECTS | - can help cover construction overruns - ensures long-term stability of capital stack - method to extract working capital from completed energy-saving and resiliency elements of project - can reduce senior loan payments | **"For mid-construction projects we're able to help developers recapitalize, recover and keep moving towards a successful finish line."** - Adam Lipkin, Director, CounterpointeSRE[![Schedule a Call](https://no-cache.hubspot.com/cta/default/4293815/f2432d3e-792e-40aa-8501-c9ba7d328331.png)](https://cta-redirect.hubspot.com/cta/redirect/4293815/f2432d3e-792e-40aa-8501-c9ba7d328331) | | --- | --- | --- FINANCE TERMS - fixed-rate, non-recourse & prepayable with rates typically under 6% - ability to capitalize interest during entire bridge period - fully funded at closing - flexible prepayment terms available --- AVAILABILITY OF 'LOOK BACK' OR 'RETROACTIVE' PACE FINANCING - typically 1-3 years since completion - available in the following states AR, CA, CT, CO, DC, DE, FL, IL, KY, MD, MI, MO, MN, NE, NY, OH, OR, PA, RI, TX, UT, and WI  ![png look back ok-1](https://blog.counterpointesre.com/hs-fs/hubfs/png%20look%20back%20ok-1.png?width=487&name=png%20look%20back%20ok-1.png) Note 1: Bright/light green denotes PACE-enabled with look-back, darker green is PACE enabled without look-back, blue represents an enabled / non-active PACE state. Note 2: Some PACE policies only allow for in-flight projects, or require an energy evaluation to have been performed before evaluation.   --- Follow us [![Twitter](https://blog.counterpointesre.com/hubfs/CounterpointeSRE_March2018%20Theme/Images/twitter.png)](https://twitter.com/CPSustainable) [![Linkdin](https://blog.counterpointesre.com/hubfs/CounterpointeSRE_March2018%20Theme/Images/linkedin.png)](https://www.linkedin.com/company/counterpointesre.com) Powered by![counterpointe only](https://blog.counterpointesre.com/hs-fs/hubfs/counterpointe%20only.png?width=231&height=50&name=counterpointe%20only.png)   [Privacy Policy](https://counterpointesre.com/privacy) | [Terms & Conditions](https://counterpointesre.com/terms) Copyright (©) 2024 Counterpointe Sustainable Advisors LLC. All Rights Reserved.