Multi-Family Historic Renovation

Project Information


Close Date
November 30, 2015
Total C-PACE Financing
$600,000
C-PACE Tax Assessment (annual)
$54,179
Term
20 years
Interest Rate
6.34% (fixed)
Construction Timeline
14 months
C-PACE Administrator
Set the PACE St. Louis

Building Specs


Square Feet
61,946
Year Built
1906

Lafayette Lofts
815 Ann Avenue, St. Louis, MO

Lafayette Lofts

Project Summary

RAHILL Capital closed on the C-PACE financing for the historic renovation of a former public schoolhouse (Lafayette School) into 36 apartments  located in the Soulard neighborhood of Saint Louis, MO. The $600,000 special tax assessment enabled 815 Ann to significantly lower its energy and operating costs. The 815 Ann financing is RAHILL’s fifth successfully-closed C-PACE deal in the state of Missouri.

The property owner chose to use C-PACE on this project to reduce developer equity and maximize their ROI.

Qualifying Improvements

  • Interior Lighting (LEDs, CFLs)
  • Lighting controls
  • HVAC Units (13 SEER)
  • White TPO roof with R-11.4 insulation
  • 49.92 kW rooftop solar PV system