Prosper Portland made history in July by closing on the first PropertyFit project using the never- before-used (in Oregon) Commercial Property Assessed Clean Energy (CPACE) financing structure, authorized by the state legislature in 2015.
The program design has been a collaborative effort between Prosper Portland, Multnomah County and Energy Trust of Oregon and brings a valuable new financing tool to Multnomah County that supports our equity, environmental sustainability, economic development and financial sustainability goals.
The project is the historic renovation of a building at 100 NE Martin Luther King Blvd into a 162-bed hostel with a ground floor gastro-pub. Stay tuned for updates as the project develops.
