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**Deer Valley’s SkyRidge Resort Secures $63.3M in C-PACE Financing**
PACE Equity has announced the successful mid-construction recapitalization of the SkyRidge Resort in Deer Valley, Utah, through $63.3 million in long-term, fixed-rate Commercial Property Assessed Clean Energy (C-PACE) financing.
The funding, which covers approximately 42% of the total loan-to-cost, will be used to support the ongoing construction of the resort’s lodge, clubhouse, and associated amenities. By integrating C-PACE financing into the capital stack during construction, the development team was able to significantly reduce its overall weighted average cost of capital while covering the remaining construction expenses.
SkyRidge Resort also earned PACE Equity’s proprietary CIRRUS Low Carbon certification. This designation not only provided lower financing rates but also ensured additional energy savings through high-performance upgrades in the building’s envelope and systems, including electrical, HVAC, lighting, and plumbing.
At the center of the development will be the Stelle Lodge—a six-story luxury resort that will feature upscale lodging for both transient and ownership guests. The property will include amenities such as elevated dining experiences, a rooftop bar, an immersive spa, and golf facilities.
The SkyRidge development marks a significant stride in sustainable luxury hospitality, aligning energy-efficient choices with forward-thinking capital strategies.
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