PACE Equity has achieved CIRRUS Low Carbon Verification for the Coliseum Building in downtown Minneapolis.
The historic building was funded with a complex capital stack that included Historic Tax Credits, New Market Tax Credits, multiple grants and other financing options that paired with PACE Equity’s C-PACE financing.
Originally built in 1917, the Coliseum Building is undergoing redevelopment on a main intersection of downtown Minneapolis. The building was vandalized during the civil unrest in 2020 and had been slated for demolition. Redesign, Inc., a community development services speciliast, revitalized the property.
Now listed on the National Registry of Historic Places, the building has earned status as CIRRUS Low Carbon Verified Building.
PACE Equity’s CIRRUS Low Carbon design specification made the building improvements possible. This specification takes advantage of the only financing option with lower rates recognized by greener building designs. The Coliseum Building now boasts a carbon emissions reduction of 4,070 metric tons.