One Community Bank Leader in C-PACE Financing
(September 2021)— One Community Bank is proud to announce the closing of a $7.5 million C-PACE transaction (Commercial Property Assessed Clean Energy) with Madison-based hotel developer, North Central Group. The new boutique hotel project known as, “The Trade Milwaukee”, is a 205 room Autograph Collection Hotel by Marriott located within the Deer District Entertainment Area in downtown Milwaukee, WI, which surrounds the Fiserv Forum, home of the Milwaukee Bucks.
With a focus on energy efficiencies, The Trade Milwaukee will generate costs savings of $7.7 million over the course of the hotel’s useful life. Energy design enhancements include roof, wall, lighting, & HVAC upgrades, as well as low flow water fixtures, among others.
“We value the relationship we have with North Central Group, a premier Madison-based hotel developer. This is a signature project for all parties involved and we are thankful for the opportunity to play a role in the funding. The utilization of PACE speaks to their ongoing efforts to design a top tier hotel facility with a cognizant focus on maximizing energy efficiencies.”, said Dan Carey, Senior Market President of One Community Bank. “As we’ve rapidly grown our C-PACE portfolio in Wisconsin, this marks the first transaction we’ve closed in the City of Milwaukee. We couldn’t ask for a better group and project to get started with.”
One Community Bank is Wisconsin’s leading PACE lender. Property assessed clean energy (PACE) financing is a groundbreaking program that allows property owners to obtain low-cost, long-term loans for energy efficiency, renewable energy, and water conservation improvements.
“Our organization is committed to supporting sustainability and green building initiatives across Wisconsin”, added Steve Peotter, President and Chief Executive Officer at One Community Bank. “We are thrilled to be part of another wonderful project built with energy efficiencies at the heart of the development.”
In addition to C-PACE, One Community Bank is also partnering on a portion of the main construction facility.