Award recognizes the nation’s first C-PACE-financed data center
HOUSTON, Sept. 02, 2025 (GLOBE NEWSWIRE) — Nuveen Green Capital, a leader in sustainable commercial real estate financing solutions, and Lone Star PACE, a leading administrator of Texas C-PACE programs, are proud to announce that ViVa Center was named Green/LEED Development of the Year at the 2025 RedNews Houston CRE Awards.
The landmark project — financed in part by a $40 million Commercial Property Assessed Clean Energy (C-PACE) assessment — was the first data center in the U.S. to leverage C-PACE financing. Funded by Nuveen Green Capital and administered by Lone Star PACE, C-PACE helped support energy-efficient and water-conservation systems at the innovative mixed-use campus, developed by VivaVerse Solutions.
Freddy Vaca, President and Chief Technology Officer for VivaVerse Solutions, said: “ViVa Center isn’t just a redevelopment, it’s a renaissance. We’ve taken the bones of Compaq Computer, the birthplace of modern computing, and re-engineered them into a future-proof, AI-optimized powerhouse. This award is proof that with vision and the right capital partner, even yesterday’s infrastructure can fuel tomorrow’s breakthroughs in AI, blockchain, and high-performance computing. C-PACE wasn’t just a financing tool; it was the ignition switch.”
The award was presented at the REDNews annual awards ceremony on August 7, which honors the most impactful, sustainable and visionary commercial real estate projects across the Houston region.
The ViVa Center project demonstrated how C-PACE can help finance substantial sustainability measures in even the most power- and water-intensive developments. By leveraging long-term, fixed-rate C-PACE capital, the property owner will see improved operating efficiency and lowered utility demand, all while preserving capital for other needs.
Sean Ribble, Senior Director of Originations at Nuveen Green Capital, said: “We are thrilled that the landmark ViVa Center project and financing were honored at the Houston REDNews Awards. This energy-efficient property is a shining example of how an older building can be reimagined for an exciting new use such as a data center. As an increasing number of owners and developers recognize the value of C-PACE, this award underscores how it can be leveraged for sustainable construction, while enabling a Sponsor to realize significant savings.”
C-PACE financing allows developers and property owners to optimize their capital stacks with long-term, fixed-rate funding that fills a unique role alongside senior debt and equity. Utility reductions from C-PACE-eligible improvements are expected to save the property owners at ViVa Center more than $3.5 million over the course of the financing’s 30-year term.
Glenn Silva, COO of Lone Star PACE, said: “ViVa Center represents the cutting edge of what C-PACE can achieve. Not only did it deliver a highly efficient, future-ready asset, but it also set a national precedent for using C-PACE to reduce the resource footprint of one of the most resource-intensive property types. We’re honored to work alongside Nuveen Green Capital and VivaVerse Solutions to bring this transformative project to life, and we’re thrilled to see REDNews recognize its impact.”
About Nuveen Green Capital
With over $3.5 billion originated, Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the $1 trillion+1 asset manager and wholly owned subsidiary of TIAA. The company, which was founded by C-PACE industry pioneers who helped design the nation’s first successful statewide C-PACE program2, has grown to offer a market-leading suite of accretive CRE financing products and a full-service lending platform with all underwriting, legal, and asset management functions executed in-house.
About Lone Star PACE
Lone Star PACE serves as a program administrator for city and county Commercial Property Assessed Clean Energy (C-PACE) programs in Texas. LSP helps local governments, economic development corporations, chambers of commerce and trade associations promote economic development and resource conservation by facilitating C-PACE projects alongside property owners, C-PACE capital providers, contractors and other stakeholders. The company’s goal is to promote sustainability as well as increased property values while positively impacting cash flow and utility savings. For more information, visit www.lonestarpace.com.
About VivaVerse Solutions
VivaVerse Solutions is redefining the former HPE/Compaq Computer campus as a cutting-edge hub for next-generation applications, specializing in AI, blockchain, and High-Performance Compute solutions. Their ambitious plans include state-of-the-art facilities designed to transform the Texas data center landscape, setting new benchmarks for energy efficiency and operational reliability. With the data center market projected to reach $340.2 billion by 2024, VivaVerse Solutions is positioned to offer unparalleled facilities to top-tier AI hyperscalers.
Media Contacts
Lesley Osborn
Senior Manager, Marketing & Communications at Nuveen Green Capital
Lesley.Osborn@Nuveen.com
Olivia Lueckemeyer
Director of Marketing & Media Relations at Lone Star PACE
Olivia@LoneStarPACE.com
1 Total assets under management (AUM) as of 1/1/2025
2 The United States Department of Energy: 2016 C-PACE Report lists the Connecticut C-PACE program as the first statewide C-PACE program in the U.S.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4056bf5e-6bee-4e44-b383-df2c301c05ee
https://www.globenewswire.com/NewsRoom/AttachmentNg/c2a7925f-50d6-40cb-8ac7-41d160f73231
