Lone Star PACE has announced $40-million in financing for the rehabilitation of the ViVa Center data hub in Houston, an investment intended to support the growth of AI technology.
The 774,000-square-foot facility at 11445 Compaq Center West Drive, originally the headquarters of Compaq Computer, will serve companies in the cloud computing and artificial intelligence sectors.
The loan will be used for the installation of energy-efficient windows, LED lighting, advanced HVAC systems, and high-efficiency plumbing upgrades at the facility.
“We are thrilled to have partnered with VivaVerse Solutions on this much-needed project," said Lone Star PACE president Lee McCormick in a news release. "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.”
Nuveen Green Capital served as the capital provider for the project. The first phase is scheduled for completion in Fall 2024.
When completed, the facility will generate offer 250 megawatts of power.
