PACE Loan Funds Improvements at Seaside Campground
PACE Loan Group (PLG) has arranged a $4.45-million PACE loan secured by a special assessment for Lawson’s Landing, which will support the nearly 70-year-old California campground’s new wastewater treatment, solar energy and energy and water efficiency improvements. These improvements will facilitate and enhance new restrooms and rental cottages at the campground.
Located in the northwestern corner of Marin County, the 608-acre campground borders the Pacific Ocean just north of Point Reyes National Seashore. The PACE assessment was closed through the California Statewide Community Development Authority Open PACE program.
“The additions to the property are aimed at turning Lawson’s Landing into one of the most sought after vacation destinations on Tomales Bay,” said Mike Lawson, part of the current generation of the Lawson family who operates the campground. “The C-PACE funding source fits completely with our family’s mission to preserve and protect the coastland and wetlands.”
The project, which is expected to be completed by December 2024, received approval from the California Coastal Commission in April 2020. “This transaction really represents the flexibility of C-PACE financing and PLG, given that this was a non-traditional asset with a non-traditional capital structure,” said Jacob Roth, VP at PLG. “We were able to get creative to find the best way to support the improvements that the Lawson family wanted to implement.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).