The City of Asheville and Buncombe County have launched North Carolina C-PACE (Commercial Property Assessed Capital Expenditure). This powerful new financing tool is designed to help commercial property owners and developers fund energy efficiency, water conservation, and resiliency upgrades.
To help our development community and commercial property owners understand how to leverage this program, we are hosting a free information session.
No registration is required!
- When: March 18, 2026, from 9–10 am
- Where: 200 College St, Asheville, 1st Floor Conference Room
- Parking: Validated parking is available at the 164 College St. parking deck.
C-PACE is an innovative financing tool that allows owners of commercial, industrial, agricultural, and multi-family properties to access long-term, private capital for building improvements. Unlike traditional loans, C-PACE financing is secured by a voluntary assessment and lien on the property.
Why Consider C-PACE for Your Property?
C-PACE is designed to overcome a critical barrier to sustainable building upgrades: high upfront costs. Benefits include:
100% Financing: Covers both hard and soft costs (including audits and engineering) with little to no up-front investment.
Improved Cash Flow: Financing terms can last 20–30 years – matching the useful life of the improvements – which often results in energy savings that exceed the payments.
Transferability: Because the assessment is tied to the property, the repayment obligation automatically transfers to the next owner if the building is sold.
Increased Property Value: Upgrades to energy efficiency, resiliency, renewable energy, and water conservation enhance building longevity and attract tenants by lowering utility costs.
What Improvements Qualify?
Property owners can use C-PACE for a wide range of projects:
Energy Efficiency: High-efficiency lighting, HVAC systems, insulation, and energy-efficient windows.
Renewable Energy: Solar electric (PV), wind, and geothermal systems.
Resiliency: Flood mitigation, stormwater management, wind resistance (e.g., roof reinforcements), and indoor air quality improvements.
Water Conservation: Water-saving fixtures and measures to ensure safe drinking water.
How the Program Works
The program is administered by the Economic Development Partnership of North Carolina (EDPNC). While the local government authorizes the program, the funding comes from private capital providers.
Eligibility: Owners must be current on taxes and mortgages.
Lienholder Consent: Written consent from all existing mortgage holders is required before moving forward.
Limits: Financing can be provided for up to 35% of the property’s value.
For those unable to attend the session, more information and program toolkits can be found at the EDPNC website. We look forward to seeing you on March 18 to discuss how C-PACE can help grow your business and support Asheville’s clean energy goals!