C-PACE Financing for Assisted Living and Senior Housing

Senior Housing and assisted living building owners and developers choose PACE financing because it:

  • Covers 100% up front financing, including project development costs
  • Provides long-term funding that can result in immediate benefit to cash flow
  • Solves split incentives by passing payments to tenants
  • Preserves working capital and can improve property NOI
  • Increases building value and marketability
  • Offers a range of accounting treatments

Many C-PACE programs across the U.S. now offer financing for senior housing new construction and gut rehab projects in addition to retrofits.


Property Assessed Clean Energy (PACE) is a financing mechanism that enables low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects. PACE financing is repaid as an assessment on the property’s regular tax bill, which generates benefits that aren’t available through conventional forms of funding.



  • PACE allows financing terms up to 20 years, not to exceed the average useful life of the improvements.
  • Enables deep retrofit projects with paybacks of 20 years, rather than only low-hanging fruit with quick paybacks.
  • Allows comprehensive senior housing projects with deeper impacts on energy usage and significant effects on the bottom line.
  • 20 year amortization makes it possible for annual energy savings to exceed annual PACE payments.


  • PACE assessments are part of a property’s regular tax bill, so the cost of financing (along with the benefits) can be shared with tenants under most lease forms.
  • PACE eliminates the split incentive issue that derails many energy projects.


  • PACE financing is attached to a building through a tax assessment; it’s not attached to an individual or business.
  • If the building is sold before the PACE assessment is paid off, it seamlessly transfers to the new owner as part of the taxes. The savings from the energy project transfer to the new owner too.

States that DO NOT have active PACE programs.

  • Idaho
  • Wyoming
  • Arizona
  • Kansas
  • South Dakota
  • North Dakota
  • Iowa
  • Louisiana
  • Mississippi
  • Tennessee
  • Indiana
  • West Virginia
  • South Carolina

Our sister company, HavenCo Capital can help you secure financing.