Counterpointe Sustainable Real Estate, a leader in commercial real estate PACE financing, announced the launch of new financing program for the installation, service, and maintenance of Green Roofs and Living Roofs nationwide. This innovative new financing program will help property owners comply San Francisco’s new Living Roof Ordinance and is backed by property-tax assessments funding - known as Property Assessed Clean Energy (PACE) Financing - through which the local county or municipality offers a voluntary tax assessment increase in exchange for financing 100% of the costs to fund permanent green energy-saving, water-saving and seismic strengthening improvements.
The financing provided by Counterpointe Sustainable Real Estate provides financing for 100% of the costs of green roof installation. Through the CounterpointeSRE’s PACE program, the assessment that funds the improvements is repaid with long term, fixed rates through an additional line item on the property tax statement. This will allow hotels, offices, hospitals and other commercial properties to finance green roofs while preserving capital and potentially qualifying for off balance sheet treatment. Assessments are tied to the property, so they may be passed through to tenants, are non-recourse to owners and are transferrable upon sale of the property.
A highlighted feature of the new program is 100% financing that includes all related soft costs such as design, engineering, egress installation, and prepaid service or maintenance contracts for the green roof.
Green roofs provide enormous benefits to community, property owners and tenants. Whole building energy savings vary by climate, building size and green roof properties, but a City of San Francisco commissioned study estimates utility savings in cooling costs at 18%. Read more about costs and benefits at http://default.sfplanning.org/Citywide/livingroof/SFLivingRoofCost-BenefitStudyReport_060816.pdf
San Francisco has joined other North American cities promoting living roofs such as Toronto, Chicago, and Portland. “CounterpointeSRE is pleased to work in conjunction with city planners to helps reduce heat island effects, manage stormwater, and increase open space in commercial spaces,” said Eric Alini, managing partner at Counterpointe Sustainable Real Estate. “Through this program, property owners can increase ROI, property aesthetics and property value while making our cities more environmentally friendly.”
In 2014, the City of San Francisco selected CounterpointeSRE Program to become its official financing partner. The CounterpointeSRE Program™ has un-paralleled expertise in PACE financing and finances a variety of renewable energy, water conservation, energy efficiency and resiliency projects such as lighting and building automation, seismic retrofits and wind mitigation, energy efficiency windows and upgrading heating and air conditioning systems. Counterpointe’s new program for green roof installation permits inclusion of other eligible improvements in the financing of the green roof.
About Counterpointe Sustainable Real Estate, LLC
Counterpointe Sustainable Real Estate (CounterpointeSRE) is a leading PACE provider, financing commercial real estate clean energy and resiliency improvements nationwide from $100,000 to $50,000,000.
For more information, please visit www.CounterpointeSRE.com
Tel: (203) 717-0885