PaceZero Capital Partners provided Assembly with a $5 million credit facility. The funding will support Assembly as it delivers on its portfolio of development projects across the Greater Toronto Area.
“Canada needs to increase the availability of quality, affordable homes,” Jordan Peckham, founder and CEO of PaceZero, said. “By working with innovative partners like Assembly and The Atmospheric Fund (TAF), we’re excited to bring new technologies and production processes to market.”
Geoff Cape, CEO of Assembly, said, “Partnerships like this enable real change in how Canada delivers housing. With the support of PaceZero and TAF, we’re scaling an approach that marries speed, sustainability and community benefit. This credit facility allows Assembly to bring more affordable, low-carbon housing to the Greater Toronto Area, supporting people, municipalities and the environment.”
TAF, an early investor in Assembly, entered into a risk-sharing agreement with PaceZero, due to the high greenhouse gas reduction impacts of Assembly’s approach to housing construction.
Kristian Knibutat, vice president, impact investing for The Atmospheric Fund, said, “We’re always seeking ways to ‘crowd in’ private investment into low-carbon development. A partial loan guarantee is an excellent way for us to help catalyze this promising industry. Fast, affordable and low-carbon; this is the way Canada should be building homes.”
