Snouts & Stouts held its grand opening on Dec. 9 as the only indoor dog park and bar in Northern Virginia.
Snouts & Stouts building owner Anthony Henderson teamed with private capital provider Capital Bank for the bank’s first Arlington Commercial Property Assessed Clean Energy (C-PACE) project.
C-PACE enables Snouts & Stouts to make a series of sustainable energy upgrades, which will allow for updates to the building’s façade, HVAC system and water system.
Under C-PACE, owners of existing buildings can obtain financing for up to 100 percent of the cost of energy efficiency, renewable energy and water conservation projects for up to 25 years. Arlington County was the first county in Virginia to enact a C-PACE ordinance, launching the program in 2018 as part of the county’s Arlington Initiative to Rethink Energy (AIRE).
Daniel Ramos, founder of Snouts & Stouts, learned about C-PACE after reaching out to Arlington Economic Development.
“I saw the goal for this building and how we could work together on the energy programs. I was already initiating energy programs upgrades — such as better insulation and an all-electric HVAC system,” Ramos said. “I saw this innovative public-private partnership program as a way to finance additional sustainability measures and improve the comfort of the space for my customers.”
Beyond existing structures, commercial property developers can also access C-PACE financing for up to 20 percent of a new building’s total eligible construction cost.
“Building owners play an integral role in advancing the Arlington community’s sustainability goals, and even mundane improvements such as adding insulation, properly weatherizing the building shell, or installing a heat pump can have transformative impacts on energy use,” Arlington County Board Chair Christian Dorsey said. “This effort follows our first (and the Commonwealth’s first) successful C-PACE project, and is among the many actions taken to further goals in our Community Energy Plan.”
Sustainable Real Estate Solutions (SRS) partners with state and local governments to administer C-PACE programs. Founded in 2010 and based in Trumbull, Conn. by experienced commercial real estate and energy efficiency professionals, the company’s proprietary technology-enabled EPIC Platform streamlines the management of the data-intensive C-PACE technical and financial underwriting process. SRS’s Investor Confidence Project-credentialed quality assurance methodology has facilitated more than $475 million in C-PACE financing nationwide. SRS empowers C-PACE public-private partnerships across the country.
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Rebecca Barnabi
