For the last several months Greenscape Capital Group, via it’s energy efficiency retrofit company Green.Swtich, has been building a solid reputation as a first mover in this space.

We’ve written extensively about the massive potential in the energy efficiency market and the work that Green.Switch is doing.

So far Green.Switch has been very focused on the parking lot industry.  For a number of reasons, energy efficiency upgrades for parking lots are a no-brainer.  It’s an easy sell.    A parking lot has one very large capital cost to consider: energy.  Green.Switch provides a turnkey solution to reducing this capital cost and increasing bottom line profits.

Not so long ago Greenscape was approached by ProPark America with an interesting idea.  Now, ProPark has been in the parking business for 25 years, operates more than 330 locations, manages a labour force of 1200 employees, and generates revenue in excess of $100 million per year.  So when they contacted Greenscape management, Greenscape management listened.

ProPark wanted to build “the world’s greenest parking lot” at the Denver International Airport and they needed someone to finance it.

Greenscape Capital Group Inc. (“Greenscape”) TSXV: ‐ GRN is pleased to announce that Green.Switch Capital Corp., a wholly‐owned Greenscape company, has entered into an agreement to build, operate and own, this facility.

Highlights of the deal:

Green Park DIA, owned and operated by Greenscape Capital Group

• 4200 stall lot to serve Denver International Airport , the largest airport in the US
• Cushman & Wakefield appraised value of $31,700,000 upon completion of construction, with market value upon stabilization of $42,400,000
• 7 month construction period, fixed cost contract, guaranteed price by large commercial contractor that has been in business for 49 years in the Denver area
• Project is “shovel‐ready” and is fully permitted for construction to begin
• management contract in place with a leading American parking lot management company that has been in the parking business for twenty five years, operating 330 locations
• land lease in place for 25 years with 20 additional years of renewal optionsGreen.Switch to own 90% of the entity. The 10% minority interest will be owned by ProPark USA
• total capital required $18,600,000 of which $16,300,000 is for fixed price development and construction costs with $2,300,000 in place for operating capital and future contingencies
• $12,100,000 (65% of total capitalization) targeted to come via debt issuance from a major, chartered Canadian bank
• average projected Net Operating Income in years 2‐10 of $5.1 million annually
• project life of 25 years minimum with opportunity to extend to 45 years
• average projected Sales in years 2‐10 of $19 million annually

Greenscape CEO Bryan Slusarchuk states,

This will be the world’s greenest parking facility, a world‐class asset, at a world‐class location. While this asset alone creates substantial potential upside for Greenscape shareholders via the project value and the targeted net income, it should be noted that this will also serve as a showpiece and as a model for future corporate expansion plans. In addition to showcasing Greenscape, today’s announcement also highlights the fact that British Columbia, Canada is a leading source of talent, entrepreneurial spirit and capital in the environmental world and for that, I congratulate the environmental professionals and management of Green.Switch for getting this agreement signed

Access the full press release at: www.greenscapecapital.com/news/greenscapecapital/january062010/