TAYLORSVILLE, UTAH — D.A. Davidson’s Special District Group, in partnership with Petros PACE Finance, has arranged $160 million in Commercial Property Assessed Clean Energy (C-PACE) financing for Summit Vista, Utah’s first life plan retirement community.
Representing the largest C-PACE deal in history, according to the arrangers, the proceeds will be dedicated toward ongoing construction with a focus on enhancing the development’s energy efficiency, renewable energy and water efficiency.
Owned in partnership with Gardner Group, Wasatch Group and Solamere Capital, Summit Vista offers a full continuum of care, including independent living, assisted living, memory care and comprehensive skilled nursing in conjunction with its affiliated healthcare campus. Upon full build-out, the community will feature nearly 1,600 units.
Approximately 13 miles south of downtown Salt Lake City, Summit Vista is nestled in the fast-growing region of Taylorsville. It is centrally located near major transportation corridors, enabling connectivity to surrounding neighborhoods.
C-PACE is a financing mechanism that allows property owners and developers to fund up to 100 percent of building retrofits and new construction to improve a building’s energy efficiency, renewable energy and water efficiency.