PLG, a leading provider of financing solutions for commercial properties, has successfully secured a $4.45-million PACE loan for Lawson’s Landing in California. This loan will be used to fund various improvements at the nearly 70-year-old campground, including upgrades to its wastewater treatment system and implementation of solar energy and water efficiency measures.
The project is located on the scenic coast of Marin County and borders Point Reyes National Seashore. Through PLG’s partnership with the California Statewide Community Development Authority Open PACE program, this funding was made possible.
According to Mike Lawson, part of the family that owns and operates Lawson’s Landing: “Our goal is to make our property one of the top vacation destinations along Tomales Bay.” He also expressed his satisfaction with using C-PACE financing as it aligns with their mission to preserve and protect coastal areas.
This project received approval from the California Coastal Commission in April 2020 and is expected to be completed by December 2024. Jacob Roth from PLG stated that this transaction showcases their expertise in finding creative solutions for non-traditional assets like campgrounds.
In conclusion, PLG has successfully arranged financing through C-PACE for improvements at Lawson’s Landing without mentioning any specific locations or brands associated with Connect CRE.
