[[{“value”:”
PACE Equity Provides $22.5M in Financing for Energy-Efficient Hotel in Washington, D.C.
Milwaukee-based PACE Equity has provided $22.5 million in C-PACE financing for Sixty DC, a new boutique hotel located in the Dupont Circle neighborhood of Northwest Washington, D.C.
The C-PACE (Commercial Property Assessed Clean Energy) funding has been used to support the installation of a highly efficient HVAC system, enhanced insulation, LED lighting, and water-saving fixtures. These upgrades are projected to yield nearly $50,000 in annual utility cost savings. In addition to its environmental benefits, the project is expected to generate approximately 150 jobs in the hospitality sector.
Sixty DC is a 73-room luxury hotel situated at 1337 Connecticut Avenue NW. The 44,076-square-foot property previously housed The Gryphon, a bar and restaurant that closed in 2020.
“The benefits of PACE financing go far beyond providing low-cost, strategic capital — it is a funding solution that helps make developments like Sixty DC happen,” said Beau Engman, president and founder of PACE Equity.
This investment reflects the growing trend of integrating sustainability and economic development in commercial real estate projects.
“}]]
