Alley North Office is a ground-up development in Oklahoma's historic "Automobile Alley." It will be the state's first multi-story mass timber office building and will help anchor a new mixed-use district. The building will serve as headquarters for C.H. Guernsey & Company, a leading diversified engineering, architectural, and consulting services firm. The building's construction substitutes mass timber for steel, which reduces embodied carbons and benefits the environment.
Highlights
Amalgamated Bank funded this $3.27M C-PACE transaction through the FASTPACE platform. The financing is the first adjustable-rate financing transacted in the Oklahoma County C-PACE Program. The transaction was awarded "Most Innovative Deal of the Year" by PACENation on the basis of its innovative execution and high-impact project profile.
Results
The mass timber construction approach reduces embodied carbon compared to traditional steel framing, while C-PACE financing supported the building envelope improvements that will deliver long-term energy performance benefits.