Renew Partners LLC, along with PACE Equity and New Buildings Institute (NBI), announced it is leveraging the low cost of capital financing to lower the carbon footprint of the iconic Agora Theater building in Cleveland’s Midtown neighborhood.
The $15.5 million historic renovation is the first project in the nation designated as a CIRRUS™ Low Carbon project.
Scheduled to begin construction this fall, The Residences and Offices at the Agora will include 48 market-rate apartments and 21,000 square feet of office and restaurant space.
To qualify for CIRRUS Low Carbon financing, Renew Partners met a design specification that requires energy efficiency upgrades that will result in significantly reduced carbon emissions.
The CIRRUS Low Carbon financing program is offered by Milwaukee-based PACE Equity, while the design specification was created by Portland, Oregon-based NBI, which also provides technical support.
