Financing Amount: $9,999,740
Sora West, a mixed-use complex proposed for 1 West Elm Street in Conshohocken, PA, has secured $9.9 million in financing as part of PA’s C-PACE Program. As the third-party administrator for Montgomery County, Sustainable Energy Fund oversaw the C-PACE project application process to ensure compliance with Act 30 Statute and the C-PACE Guidelines. Greenworks Lending executed the C-PACE transaction with Sora West. This two-parcel complex will include an 8-story, 127-room hotel, restaurant, rooftop lounge, and plaza and a restored fire station with a total footprint of 91,858 square feet. Together, the property meets the energy savings guidelines for new construction / substantial rehabilitation as outlined in the Montgomery County C PACE Guidelines with energy savings ranging from 7% to 61% better than current building code.