Amalgamated Bank Closes $1.7M Retroactive C-Pace Deal to Revitalize Nashville Retail Space

Core Insights - Amalgamated Bank successfully closed a nearly $1.7 million retroactive C-PACE financing for a redevelopment project in Nashville, utilizing Allectrify's FASTPACE platform [2][4]. Company Overview - Amalgamated Bank is a mission-driven full-service commercial bank and a leader in climate lending, focusing on socially responsible banking and empowering organizations aligned with sustainable practices [7]. - Allectrify provides a platform that simplifies C-PACE financing for lenders and borrowers, enabling quick and cost-effective access to capital for energy efficiency projects [8]. Project Details - The financed project involved a gut rehabilitation of an 80-plus year-old retail structure, which now houses several small businesses, including M.L. Rose Craft Beer & Burger [2][3]. - Improvements made in the project include LED lighting, high-efficiency HVAC systems, enhanced insulation, energy-efficient windows, and storm resiliency measures [3]. Financing Mechanism - C-PACE financing supports long-term, competitive financing for commercial property improvements focused on energy efficiency, renewable energy, resiliency, and water conservation [5]. - Amalgamated Bank's partnership with Allectrify enhances the efficiency of closing C-PACE projects, making it accessible for projects of all sizes [5][6].