Stamford Hotel Awarded For New Construction Project

Information via Connecticut Green Bank

STAMFORD, CT — Marriott Residence Inn in Stamford recently received a PACEsetter award for its new construction project.

According to a news release, the Connecticut Green Bank has announced the honorees of their annual PACEsetter Awards and the Smart-E Loan Top Performers in recognition of their contributions to the deployment of clean energy and demonstrated leadership in their industries in 2020. (To sign up for Stamford breaking news alerts and more, click here.)

Since 2012, the Green Bank has supported the creation of more than 23,000 job years and over 50,000 clean energy projects thanks to its network of contractors, interested home and building owners and lending partners.

"Connecticut’s clean energy workforce has been strong and growing since 2015, until the pandemic caused a major setback," Green Bank CEO Bryan Garcia said in a news release. "While the path to a full recovery will be long, our contractors are safely back to work — creating jobs, combatting climate change, and reducing energy burdens for families and building owners across the state. With this backdrop, we are particularly excited to recognize these projects and contractors that highlight the diverse ways our programs made a difference in our communities in 2020. From boutique inns, churches, and community centers, to our homes and neighborhoods, clean energy is powering our daily lives and helping us prosper. In the face of a challenging year, these leaders demonstrate that we can create a thriving future in Connecticut."

The Connecticut Green Bank's PACEsetter Awards acknowledge contractors, building owners and other stakeholders who are advancing the green energy movement through C-PACE, and whose leadership establishes a "pace" for others in their field to follow.

The award winners are a driving force behind the Green Bank's Commercial Property Assessed Clean Energy (C-PACE) program, which has surpassed 330 closed loans and $184 million in total close project financing that are estimated to save $295 million in energy costs. These are the sixth annual PACEsetter Awards.

Marriott Residence Inn in Stamford was acknowledged for their new construction project, which is an outstanding example of the ability of C-PACE to support ground up new construction projects in the hospitality industry. This is also an example of Connecticut's thriving open market for C-PACE, as Greenworks Lending, an active capital provider, made nearly $6.5 million in financing available to support the Marriot’s plan during COVID-19 and the economic challenges that it created.

C-PACE is an innovative program, administered by the Green Bank, which helps commercial, industrial, and non-profit property owners access affordable, long-term financing for qualifying energy efficiency and renewable energy improvements that are repaid through a voluntary assessment. As the program grows, more Connecticut businesses achieve lower energy costs and increase their bottom-line.

The Green Bank acknowledged both contractors and building owners across multiple categories for their work in 2020.