Petros PACE Finance has closed on a record $153 million C-PACE financing as part of the $820 million, 580-acre world-class development, Black Desert Resort Project, in Ivins, Utah.
Located near Zion National Park in one of the fastest-growing metropolitan areas in the country, Phase 1 of Black Desert Resort will include a luxury resort hotel, approximately 1,000 condos, 190,000 square feet of retail, restaurants, and commercial space, 25,000 square feet of event space, a full clubhouse, and a Tom Weiskopf-designed 19-hole golf course. The development is currently under construction and upon completion will be the largest hospitality offering in the state of Utah. Phase I of the project is set to open in the fall of 2024.
Commercial Property Assessed Clean Energy (C-PACE) is a recognized financing mechanism for energy efficiency, water efficiency, renewable energy, and resilience projects. Through C-PACE, property owners can finance building retrofits, gut rehabilitatio