November 2, 2023

Bayview PACE Closes $2 Million in C-PACE

Bayview PACE Closes $2 Million in C-PACE to Convert Michigan Office 

 132,000 square-foot office property outside Grand Rapids MI uses flexible, innovative C-PACE to fund improvements in church conversion

Coral Gables, FL and Holland Township, MI – Bayview PACE today announced providing $2 million in C-PACE financing for key improvements in the conversion of a 132,000 square-foot former office building for Family Church, a West Michigan-based religious group active since 2014 with approximately 2,400 current members. Located at 10717 Adams Street, Holland Township, MI, the three-story former bank headquarters was recently fully renovated into a multi-use church facility with a large sanctuary, fellowship hall, café with commercial kitchen, new offices, classrooms, restrooms, and other supporting spaces. The C-PACE funding supported upgrades of primary building systems including HVAC, electrical, plumbing and more.

The new location for Family Church serves as the largest of three campuses in this growing Holland-area 30 miles west of Grand Rapids. Construction commenced on December 1, 2022, and the first services took place at the church on September 10, 2023.

“The C-PACE program has allowed us to proceed with additional renovation projects and yet lower our monthly debt service. This creates more cash flow for us to live out our church’s mission”, said Ryan Sietsema, Treasurer of Family Church Grace Chapel.

According to Coral Gables, FL-based Bayview PACE, its Commercial Property-Assessed Clean Energy financing (C-PACE) offers favorable and cost-effective terms for qualified improvements in energy, lighting, water systems, building envelope and other resiliency components, and it can be applied to new construction as well as renovations.