Gardner Capital recently announced its new Sugar Land senior residence, Gala at Four Corners, has received a funding commitment from the GCRE Impact Fund to install an on-site solar energy system as part of its sustainable energy commitment.
The GCRE Impact Fund is part of Gardner Capital’s Alternative Investments Platform, which provides funding for projects promoting clean energy for multi-family housing or upward social mobility, according to a press release.
Although solar energy is the fastest-growing energy source in the United States, its use in multi-family housing generally remains low. With its Alternative Investments Fund, Gardner Capital aims to change that with plans to deploy up to $500,000 annually to expand access to clean energy with grants and soft loans to individuals and businesses submitting innovative proposals.
“We are thrilled to announce this sizable funding commitment to install solar at Gala at Four Corners. The project will greatly boost the availability and benefits of solar energy for senior residents in Sugar Land and make a positive impact in their lives,” said Mike Koehler, vice president of solar business development at Gardner Capital.
Applicants can apply for funding from the GCRE Impact Fund through the Alternative Investments Fund on Gardner Capital’s website. Funding is capped at $25,000 for any specific proposal (subject to waiver for special considerations), the release noted.
All proposals that focus on increasing access to or adopting renewable energy (or related projects) will be considered with a preference for proposals that also focus on serving low- to moderate-income families or other underserved populations and communities.
Ninety units are planned for the Gala at Four Corners, located at 15010 Old Richmond Rd. in Sugar Land. In addition to the solar energy system, other property amenities include a fitness center, media center and a resort-style pool.