Historic Buildings or Energy Efficiency? Texas Gets Both, with TX-PACE Financing

Older buildings reflect the culture and history of a community, but typically are highly inefficient. Such was the case with the Butler Brothers Building in Dallas, a previously-abandoned 1910 structure that was often referred to as an eyesore. Through the Texas PACE Authority’s “PACE in a Box” model, Alterra International, real estate developer, was able to secure $23.9 million in PACE financing for upgrades that slashed carbon pollution, cutting energy use by about 40 percent and annual water use by almost 700,000 gallons.