HOUSTON, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Lone Star PACE, a leader of Texas' Commercial Property Assessed Clean Energy (C-PACE) program, helped arrange $40 million in C-PACE financing for the revitalization of ViVa Center, a 2.3-million-square-foot technology hub in Houston, supporting the development of data centers aimed at driving the growth of AI.
The 774,000-square-foot facility at 11445 Compaq Center West Drive is part of the recently rebranded ViVa Center, which was originally the headquarters for Compaq Computer and later acquired by Hewlett-Packard Enterprise. This turnkey data center will cater to hyperscale users in the cloud computing and artificial intelligence sectors.
Financing proceeds will be used to install sustainable building components to Phase 1 of the data center development. Improvements include energy-efficient windows, LED lighting, advanced HVAC systems, and high-efficiency plumbing upgrades.
Lee McCormick, president of Lone Star PACE, said: "We are thrilled to have partnered with VivaVerse Solutions on this much-needed project. Demand for data center infrastructure has exploded amid a rise in data consumption and technological innovation, and it's exciting to see C-PACE play a role in meeting that need."
C-PACE allows property owners to access low-cost, long-term financing for energy and water conservation systems at commercial ...
