Monday, January 6, 2025

Investment Group Secures $35 Million C-PACE Financing for Production Studio in Chesterfield, Missouri

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Investment Group Secures Million C-PACE Financing for Production Studio in Chesterfield, Missouri
PACE Loan Group (PLG) has secured a $35 million Commercial Property Assessed Clean Energy (C-PACE) loan for a new 300,000-square-foot studio complex in Chesterfield, Missouri, near St. Louis. Authorized by the St. Louis County Clean Energy Development Board through the Missouri Energy Savings Program (MO-ESP), the project will feature five sound stages tailored for the live events industry, providing essential rehearsal and production services for major tours. Construction, which began in August 2022, is set to take place in stages, with the first studio, Studio 80, anticipated to open for bookings in spring 2025. The Gateway Studios & Production Services development will cover 32 acres, cost approximately $111 million, and create over 100 jobs in the music and film production sectors. The loan will also finance energy-efficient upgrades, projected to save more than $50,000 annually, thus promoting sustainability in local business practices.
Original source:
https://rebusinessonline.com/pace-loan-group-provides-35m-c-pace-loan-for-production-studio-in-chesterfield-missouri/

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