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Florida & Gulf Coast  + Central Florida  + Finance  | 
PACE Loan Group closed a $13.82 million C-PACE loan for a 151-room conversion from a hotel into workforce housing in Kissimmee, FL

$13.8 Million Loan Closes for Hotel Conversion to Workforce Housing Near Disney

PACE Loan Group closed a $13.82 million C-PACE loan for a 151-room conversion from a hotel into workforce housing in Kissimmee, FL. The borrower plans to complete the renovation and open the low-rise/garden apartment complex at 2950 Reedy Creek Blvd. in May 2024.

PACE Loan Group partnered with the Florida Development Finance Corporation and their C-PACE Program, which allows property owners to obtain financing using a special assessment on their property tax bill as the repayment mechanism. This loan is the largest C-PACE for a renovation/retrofit in Central Florida and the third largest in the FDFC’s C-PACE program’s history.

The financing package also includes a $9.1 million loan from a regional bank. Infiniti Loft Investors bought the vacant, non-operating asset following a previous complete gutting of the interior following a hurricane.

The PACE proceeds will be used to finance energy conservation and renewable energy measures.

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

  • ◦Development
  • ◦Financing
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