The Maranello Luxury Garages development in Plano has secured $22.5 million in financing dedicated to improving the building's environmental efficiency. The funds come through Commercial Property Assessed Clean Energy, commonly known as C-PACE, which allows commercial property owners to pay for qualifying upgrades via a voluntary property assessment.
Lone Star PACE facilitated the deal, noting that the improvements are expected to cut the facility's annual energy consumption by 28 percent and reduce water usage by 14 percent. The financing will cover enhancements to the building envelope, interior and exterior lighting, heating and cooling systems, and low-flow plumbing fixtures.
The project involves a $73 million development located at the northeast corner of Mapleshade Lane and Ohio Drive. Plans call for a two-story structure spanning 255,000 square feet, which will contain 80 individually owned luxury garage condominiums. The design features an indoor, climate-controlled concourse allowing owners to access and display their vehicles.
Additional spaces within the complex include 7,000 square feet of office area and a 28,000-square-foot zone designated for retail and auto shop services. The development has evolved from earlier concepts into a destination tailored for high-end automotive collectors.
This transaction is part of a broader trend in Texas. During the first half of 2026, Lone Star PACE facilitated $64.8 million in financing across six projects, representing approximately $279 million in total commercial real estate investment. For new construction in Texas, the program can finance up to 35 percent of a project's capital stack.
