C-PACEDesk

C-PACE · Massachusetts

C-PACE in Massachusetts

Statewide program administered by MassDevelopment in consultation with the Department of Energy Resources, which reviews the technical side of each application. It is open to commercial and industrial buildings, multifamily properties of five or more units, and nonprofits, but only in municipalities that have opted in by a majority vote — eighty-nine cities and towns, including Boston, had done so by August 2026. MassDevelopment publishes no cumulative of its own, so the figure above is the C-PACE Alliance's 2024 dataset, and nowhere on this site is a figure more out of date: Massachusetts closed nothing at all in calendar 2024 and just under $2.4M across three projects in the program's first four years, and then in August 2026 Millennium Partners closed $281M on the Millennium Residences at Winthrop Center in downtown Boston through Nuveen Green Capital — the largest commercial PACE financing in New England's history, and more than a hundred times the entire cumulative shown above.

Verified 2026-09-15

Program status
Active
A program list entry was confirmed
Invested to date
$2M
Cumulative through 31 December 2024
Source: C-PACE Alliance, 2024 National C-PACE Program Volume Data
Projects
3
Ranks 27 of 27 reporting states
Average deal
$0.8M
Indicative, not a program limit

Who administers C-PACE in Massachusetts

C-PACE in Massachusetts runs through a single program administrator.

How to check your specific property

C-PACE availability is decided locally even when the enabling law is statewide. Work through these in order — each one can end the enquiry, so doing them out of order wastes time.

  1. Jurisdiction. Confirm the county or municipality has opted into the program. Statewide authorisation is not the same as local adoption.
  2. Eligible scope. Establish which parts of your project qualify — energy, water and resiliency measures, and in many states new construction and a look-back on recently completed work.
  3. Senior lender consent. Ask your mortgage holder early. This is the step that most often decides the timeline.
  4. Assessment mechanics. Understand how the assessment appears on the tax bill and how it is handled at closing when the property sells.

Is C-PACE the right tool for this project?

C-PACE solves a specific problem: long-term, fixed-cost capital for improvements to a building, secured by the property rather than by you. It is not a substitute for working capital and it is not fast money. Where it is strongest:

  • Hotel and multifamily renovations where the capital stack is already tight
  • Office-to-residential and other adaptive reuse conversions
  • New construction where C-PACE fills the gap between senior debt and equity
  • Owners who expect to sell before a conventional loan would amortize
  • Deferred maintenance that a bank will not lend against

If your project does not fit that shape, the honest answer may be a different program — or none of them yet. USDA B&I covers rural projects with terms up to 40 years, and SBA 504 covers owner-occupied real estate and equipment. Our C-PACE versus bridge loan comparison covers the case where the two are used together rather than as alternatives.

C-PACE in Massachusetts: common questions

Is C-PACE available in Massachusetts?

Yes — Massachusetts has an active C-PACE program. Availability inside the state is usually decided jurisdiction by jurisdiction, so the property's county or city must also have opted in. Confirm the specific address with the program administrator before assuming coverage.

How large is the C-PACE market in Massachusetts?

Cumulatively through 31 December 2024, Massachusetts recorded $2M of C-PACE investment across 3 projects — an average of about $0.8M per project. That ranks it 27 of 27 states with reported volume. Average deal size matters more than project count when you are judging whether your project is typical for the market.

Does my mortgage lender have to consent to C-PACE in Massachusetts?

In most programs, yes. The C-PACE assessment sits ahead of the mortgage in payment priority, so the senior lender is normally asked to consent in writing. Many commercial mortgage lenders now approve C-PACE routinely, but the consent conversation takes time and is the most common reason a deal stalls. Start it early.

What happens to the C-PACE assessment if I sell the property in Massachusetts?

The assessment runs with the property. When the building sells, the remaining payments transfer to the buyer along with the improvements they funded. This is the structural feature that makes a 30-year term sensible for an owner who plans to exit in five.

Eligibility check

Does your Massachusetts property qualify?

We will check the jurisdiction, the eligible scope and the senior lender consent path before anyone talks about rates.

  • Commercial and business purposes only — we do not place consumer loans.
  • If the project does not qualify, we say so and tell you what would change that.
  • No credit pull to get an answer on program eligibility.
  • We reply within one business day.

C-PACE eligibility is decided by the property — its address, its jurisdiction, the scope of work, and who holds the mortgage. That is why this form asks about the building rather than about you. The more of it you can answer, the more specific our first reply is.

1 Who you are
2 The property
3 The project What is being financed? tick all that apply
4 Existing debt

This is the part that most often decides the timeline. A C-PACE assessment sits ahead of the mortgage, so most programs require the senior lender's written consent.

5 Anything else
6 Required confirmations

Submitting this form is not an application and creates no obligation on either side. We are not a lender and this is not a commitment to lend. See our disclosures and privacy notice.