How does an outdated engineering plant become a state-of-the-art, energy-efficient sports facility? And how is an industrial complex repurposed into a home for makers, artisans, and manufacturers?

Through innovative C-PACE financing,  Norwalk-based Spinnaker Real Estate Partners has harnessed the power of solar to reduce operating costs, exceed industry standards in sustainability, and give new life – and purpose – to older buildings.

Spinnaker is a privately owned real estate company engaged in the acquisition, development, ownership, and management of commercial properties and multi-unit housing communities for almost 70 years. With a focus on urban redevelopment opportunities, Spinnaker has a passion for projects that connect people, housing, business, jobs, and recreation. In fact, since taking over the business over three decades ago, chairman and CEO Clay Fowler has focused on a commitment to resilient and sustainable
building practices.

However, updating the energy profile of older buildings to lower energy use and improve operations is a challenge that can tie up capital and reduce the  return on investment that Spinnaker and its investment partners expect. That’s why 64 Solar, specialists in designing energy-saving solar systems for commercial real estate, suggested that C-PACE financing from the Connecticut Green Bank would be the perfect fit for Spinnaker.

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