Lone Star PACE successfully facilitated a $46.6 million C-PACE financing for a new mixed-use development near Houston’s Buffalo Bayou Park. This sustainable financing option helps reduce energy consumption at commercial and industrial buildings by providing low-cost, long-term loans for upgrades such as building envelope, lighting, HVAC and plumbing improvements.
The loan provided by Lone Star PACE allowed property owner DC Partners to retire construction debt and invest in its buildings. A significant portion of the loan was allocated towards The Thompson Hotel, a luxurious 172-room establishment located at 1711 Allen Parkway. Additionally, an adjacent retail pavilion spanning over 53,000 square feet received more than $15 million in funding.
The Thompson Hotel serves as the anchor for The Allen – an upscale mixed-use destination developed by international real estate firm DC Partners. Along with high-end retail options and fine dining establishments within the pavilion area, residents can also enjoy access to a health and fitness club on-site. Furthermore,a condominium tower consisting of 99 units is also part of this development project.
In partnership with lender Nuveen Green Capital,Lone Star PACE played a crucial role in administering this substantial financing package that will contribute towards making Houston’s built environment more sustainable.The post highlights how C-PACE has been utilized effectively to support DC Partner’s ambitious vision for their latest venture without explicitly mentioning Connect CRE or any related entities.
