C-PACE · Utah
C-PACE in Utah
A single statewide district run by the Governor's Office of Energy Development, with day-to-day administration by Sustainable Real Estate Solutions (branded PACEworx). Neither publishes a cumulative total, but the market is unusually concentrated and unusually large for its size: a handful of enormous hospitality and resort financings, several individually the largest C-PACE transaction in the country at the time they closed, account for essentially the whole record.
Verified 2026-09-15
- Program status
- Active
- A program list entry was confirmed
- Documented financing
- $606M at least
- Announced closings through 22 August 2026
- Properties financed
- 6 at least
- Across 7 separate closings
- Average deal
- $101M
- Per property, from the closings below
Read these as a floor, not a total. Sum of publicly announced C-PACE closings, each traced to a named source. This is a floor, not a programme total: neither the Governor's Office of Energy Development nor its programme administrator publishes a cumulative figure, and any unannounced or undersized deal is absent here.
Who administers C-PACE in Utah
C-PACE in Utah runs through a single program administrator.
Every C-PACE closing we can document in Utah
No one publishes a cumulative total for Utah, so this is built the other way round — from individual closings, each traced to a named source. It is the complete public record as far as we can establish it, which is not the same as the complete record.
| Date | Property | Amount | Capital provider |
|---|---|---|---|
| 30 December 2019 | Hyatt Regency Salt Lake City C-PACE portion of the $377M hotel project; the single largest C-PACE amount in the country at the time. | $54.7M | CleanFund Commercial PACE Capital source |
| 30 September 2022 | Black Desert Resort, Ivins C-PACE portion of the $820M Black Desert Resort development; called the largest single C-PACE transaction in history at the time. | $153M | Petros PACE Finance source |
| 22 May 2023 | Summit Vista, Taylorsville C-PACE financing for ongoing construction at Summit Vista, a life-plan senior living community; arranged with D.A. Davidson's Special District Group and called the largest C-PACE deal in history at the time. | $160M | Petros PACE Finance source |
| 12 September 2025 | SkyRidge Resort (Stelle Lodge), Deer Valley / Park City Mid-construction recapitalization for the SkyRidge luxury resort and mixed-use development. | $63.3M | PACE Equity source |
| 5 May 2026 | Ameyalli Wellbeing Resort, Midway C-PACE piece of a $130M wellness resort project; the balance was EB-5 senior construction financing from FirstPathway Partners, not C-PACE, and is excluded here. | $33M | Clearwater PACE source |
| 22 August 2026 | Marcella Landing at Deer Valley East Village, Park City Cumulative across two Rural PACE-X tranches on this one ski-community development: $75M of C-PACE in Phase I (closed 2026-01-20) plus $67M of C-PACE in Phase II (closed 2026-08-22). The conventional senior-secured portion of each tranche is not C-PACE and is excluded here. | $142M | CastleGreen Finance (an X-Caliber Rural Capital affiliate) source |
| Documented total — a floor, not a program total | $606M | 6 properties | |
Verified 2026-09-15 against Capital providers' own closing announcements and trade-press coverage (PR Newswire, Business Wire, Commercial Observer, REBusinessOnline). If you know of a closing missing from this table, tell us — we would rather the record were right than flattering.
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.
- Jurisdiction. Confirm the county or municipality has opted into the program. Statewide authorisation is not the same as local adoption.
- 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.
- Senior lender consent. Ask your mortgage holder early. This is the step that most often decides the timeline.
- 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 Utah: common questions
Is C-PACE available in Utah?
Yes — Utah 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 much C-PACE has been done in Utah?
At least $606M across 6 properties and 7 separate closings, through 22 August 2026. That is a floor rather than a total: no programme in Utah publishes a cumulative figure, so we built this from individual closings that each trace to a named public source, and an unannounced deal would not appear in it. The largest single assessment on the record is $160M.
Does my mortgage lender have to consent to C-PACE in Utah?
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 Utah?
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.
Does your Utah 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.
Thank you — we have your enquiry.
We reply within one business day, from a person, by email or phone. If the project does not fit any program, we will say so and tell you what would change that.