Nuveen Green Capital has closed on a $68.6 million Commercial Property Assessed Clean Energy (C-PACE) financing package for The Meuse, a planned mixed-use development in Fredericksburg, Texas. The financing is being administered through the Texas PACE Authority and will support the ground-up construction of the project. DC Partners is identified as the project developer. Fredericksburg is located about 70 miles northwest of San Antonio.
The C-PACE financing is structured in two components tied to distinct elements of the development program. Approximately $53.2 million of the total proceeds will be allocated to the Kimpton Fredericksburg hotel, which serves as the anchor of The Meuse. The remaining $15.4 million will support the project’s retail component. According to the parties, once the project is complete, The Meuse will represent Fredericksburg’s first combined hotel-and-retail destination.
The Meuse is planned as a 22-acre mixed-use property at the corner of U.S. Highway 290 and Main Street in Fredericksburg. Its hospitality component, the Kimpton Fredericksburg Hotel, is expected to offer approximately 13,000 square feet of meeting and event space. The hotel program also calls for destination food-and-beverage offerings, resort-style amenities, and access to the global IHG reservation platform. These features are designed to position the property as a full-service lodging option within the local market.
The project’s retail district is planned at 70,000 square feet. The development team expects the retail component to include a mix of shops, markets, tasting rooms, and dining concepts. This concentration of retail and experiential uses is intended to complement the hotel and create a broader destination environment for visitors and residents.
The Meuse is scheduled to open in late 2027, adding new hospitality and retail supply to Fredericksburg’s commercial real estate landscape. The C-PACE structure enables the sponsor to finance eligible improvements through a long-term assessment mechanism administered by the Texas PACE Authority, tailored to support energy- and resource-related aspects of the development.
