
Amped Kitchens Project Lands $4.6M C-PACE Financing
Counterpointe Sustainable Real Estate (CounterpointeSRE) provided $4.6 million in Commercial Property Assessed Clean Energy (C-PACE) funding in support of completed energy-efficiency work at the recently opened Amped Kitchens Chicago facility in the Northwest Side’s Belmont-Cragin neighborhood.
The C-PACE funding was applied with the consent of a consortium of New Markets Tax Credit program investors. They included Local Initiatives Support Corporation, Southside Community Redevelopment Enterprise, FirstPathway Partners, Consortium America, Chicago Community Loan Fund, Blue Hub Capital and PNC Bank.
“The opportunity to provide a significant capital infusion to this project and its development team is valuable in that it both supports the energy-efficiency choices made by the Amped Kitchens and helps keep costs down for those that operate their businesses from this facility,” said Eric Alini, managing partner at CounterpointeSRE.
The project converted a former Zenith television factory into a 113,000-square-foot facility with 64 kitchens for leasing to food manufacturers.