Douglas County Commissioners have voted in favor to once again provide C-PACE financing for P3 Advisors’ Miller’s Landing project — one of Southeast Denver’s newest, mixed use commercial development projects. C-PACE (Colorado Commercial Property Assessed Clean Energy) is a program that connects commercial property owners with loans for energy and water efficiency technology, systems and upgrades.
“Miller’s Landing is committed to environmental sustainability, especially water conservation, and one of our tools in this effort is participation in the Colorado C-PACE program,” said Shawn Temple of P3 Advisors, the master developer of Miller’s Landing. “C-PACE provides important financing to invest in energy and water conservation technology and is one more way Miller’s Landing can help maintain Castle Rock’s well-earned ranking as one of the best places to live and start a business in Colorado, while becoming a tremendous tax revenue generator for the town. We applaud the vision of the County Commissioners to once again participate in this critical program.”
Miller’s Landing is transforming what was once a brownfield in Castle Rock into a dynamic, sustainable mixed-use commercial development, providing the opportunity to bring a substantial and favorable economic impact to the town and citizens. The development will feature an exciting, dynamic town center that mixes high-tech businesses with vibrant retail, entertainment, hospitality and outdoor recreation opportunities. It will truly be a world class destination.
The Public Private Partnership will build and deliver to the town an estimated $40- to $50-million in public infrastructure including the successful removal of the town landfill that stranded redevelopment of the property since the early 80’s. It will help to create an economic engine on the property so the citizens and town can gain a ROI on the Plum Creek interchange and the significant public investment in Philip Miller Park.
Today, mixed-use developments must include water and energy conservation measures. C-PACE is a state-sponsored program that encourages energy efficient buildings and technology, water conservation measures and renewable energy generation. C-PACE’s goals are to lower energy and water costs, increase renewable energy deployment, reduce greenhouse gas emissions and create local jobs.
Image courtesy of Millers Landing