HEBER CITY, Utah — After closing on $48 million in Commercial Property Assessed Clean Energy (CPACE) financing, Black Rock Mountain Resort is slated to build a new hockey arena and event center.
According to a report from Hotel Resource News (HRN) on December 27, the CPACE funding secured by Salt Lake City-based D.A. Davidson’s Special District Group will help to fund an NHL-sized hockey arena and event center at Black Rock Mountain Resort that will serve as the new home for the Utah Outliers hockey team.
“Black Rock Mountain Resort is primed to become a top-tier destination for recreation, entertainment, vacation, corporate events, and more. The resort’s full suite of on-site amenities, coupled with its sustainability-minded approach to its facilities, require a financing tool that can fund its green initiatives such as energy efficiency, renewable energy, and water conservation improvements,” Brennen Brown, managing director at D.A. Davidson, Special District Group, said in a press release. “As our partners prioritize smart growth, we look forward to the continued expansion of our CPACE portfolio and our diversified financing capabilities across the nation.”
The event center will boast a three-story, 12,000-square-foot fitness facility and will be able to convert ice sheets into an event venue.
“The proceeds of the CPACE financing are dedicated to cutting-edge technology that was sourced for the event center and will double as a renewable energy source for the resort,” said the HRN report. “Each time the ice refreezes, it generates the energy required to heat and cool the commercial spaces within the hotel, including the pools.”