Cleveland's Agora Complex Becomes the First Project in the Nation to Access CIRRUS Low Carbon Financing
CLEVELAND, Oct. 19, 2022 /PRNewswire/ -- 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.
- 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 groundbreaking CIRRUS Low Carbon financing program is offered byMilwaukee-based PACE Equity, while the design specification was created by Portland, Ore.-based New Buildings Institute (NBI), which also provides technical support.
- "The CIRRUS Low Carbon specification was clear and achievable, and the lower rate made CIRRUS absolutely the right thing to do," said Shawn Neece , principal, Renew Partners.
- Buildings that pursue CIRRUS Low Carbon are verified by NBI, giving building owners and future occupants assurance they will enjoy lower energy costs and have a lower carbon footprint.