TPA’s First-Ever Multiple-Tranche TX-PACE Project

Kimpton Hotel at The Meuse – City of Fredericksburg
In 2025, TPA closed its first multi-tranche TX-PACE transaction, supporting the Kimpton Hotel at The Meuse. This complex capital structure demonstrated TX-PACE’s flexibility and ability to align with phased development and construction timelines, expanding how PACE can support sophisticated hospitality and mixed-use projects.
Why it matters: Multi-tranche capability opens the door for larger, more complex developments to leverage TX-PACE without sacrificing project timing or financial efficiency.

First TX-PACE Commercial Condominium Approved and Administered by TPA

Garages of America – Garland, Texas
In 2025, Texas PACE Authority approved and closed its first TX-PACE-financed commercial condominium project, which will be administered by TPA on behalf of Dallas County PACE Program. The Garages of America development introduces a premium garage condominium ownership model designed for high-end vehicle storage.
Why it matters: This milestone proved TX-PACE can adapt to emerging ownership models, supporting innovative real estate concepts while maintaining program integrity.

Building Momentum: First Projects and New Program Creation

2025 marked first-ever TX-PACE projects in several participating jurisdictions, including the City of Abilene, City of Fredericksburg, City of Greenville, Anderson County and Nueces County. In parallel, TPA worked alongside cities, counties, and regional partners to establish multiple new TX-PACE programs across the state, each of which will be administered by Texas PACE Authority. New programs established in 2025 include: Stephens County, Llano County, Montgomery County, Uvalde County City of Huntsville, and the North Central Texas Council of Governments’ regional PACE program. TPA now serves 110 cities and counties covering approximately 80% of the population of the State of Texas.
From initial adoption through program launch, these efforts expanded access to TX-PACE financing while ensuring consistent policies, disciplined administration, and a strong foundation for long-term growth.
Why it matters: Every new project, and every new program, strengthens the statewide TX-PACE ecosystem and brings proven, long-term financing tools to more Texas communities.

First Private Owner to Complete 5th TX-PACE Transactions, Closing 4 projects in 2025

A single private owner completed five TX-PACE transactions—each under $500K—proving the program works for smaller, repeat projects. This concentrated reinvestment along West Vickery Boulevard in Fort Worth shows how TX-PACE can drive meaningful revitalization at scale.
Why it matters: Repeat participation like this highlights TX-PACE as a practical, repeatable capital solution for portfolio owners and incremental improvements.

First Leadership Transition in TPA History

2025 also marked a historic internal milestone for Texas PACE Authority. Founding President Charlene Heydinger retired, passing the baton to Dub Taylor, former COO, who now serves as President.
Charlene’s leadership was instrumental in establishing TX-PACE legislation and building TPA from inception. Dub’s appointment ensures continuity, deep institutional knowledge, and a forward-looking approach as TX-PACE continues to mature.
Why it matters: This transition reflects the strength and stability of the organization, honoring its foundation while positioning TPA for the next phase of growth.

Looking Ahead

Each “first” in 2025 represents more than a milestone, it signals what’s possible when strong public-private partnerships, thoughtful program administration, and market innovation come together.
As we enter the new year, Texas PACE Authority remains committed to expanding access, refining processes, and supporting projects of all sizes across Texas.

Here’s to building on a year of “firsts” and shaping what comes next!