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$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.
- ◦Development
- ◦Financing

