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Chicago Hispanic Newspaper, Lawndale News, Hispanic Bilingual Newspapers, Su Noticiero Bilingual »Renovation project for Bridgeport’s Ramova Theater

The Cook County’s PACE program, administered by the Illinois Energy Conservation Authority NFP (“IECA”), a 501 (c) (3) tax-exempt not-for-profit organization in Illinois, announced that it is its first project with Commercial Property Assessed Clean Energy (“C-PACE”) funding to aid renovation of Chicago’s historic Ramova Theater. C-PACE funding is $ 7.4 million, or approximately 25 percent of the total $ 28 million project. The Ramova Theater is located at 3510-3520 South Halsted Street in the heart of Chicago’s Bridgeport neighborhood. The 36,000 square meter property was built in 1929 and has been vacant since 1985.

The site renovation is a collaboration between Chicago-based Our Revival LLC and Baum Revision in collaboration with local developers, contractors and architects. C-PACE’s capital included renovations that increase the thermal performance of the historic building envelope, upgrades to energy efficient HVAC systems, LED lighting, hot water systems and low flow fixtures. Twain Financial Partners, an investment management firm with more than $ 4 billion in assets under management in the public-private partnership sector, was PACE’s financier.

After its completion, the restored Ramova Theater will include a ground floor auditorium with 1,600 seats with additional seating on balcony level, a theater grill and an adjoining brewery and taproom. The venue will enhance Bridgeport’s established entertainment presence and provide schools and community groups in the area with an additional option for hosting events. To learn more about Cook County’s program, visit www.cookcountyil.gov/service/clean-energy-cpace-program.

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