After several decades of commercial strip malls and suburban single family home construction, the trend over the past several decades is toward the construction or renovation of mixed-use, multi-purpose facilities. Mixed-use projects have the following advantages:
- help foster walkable communities;
- allow for the co-location of housing, goods, and services;
- repurpose vacant and abandoned buildings or parcels of land; and
- generate local tax revenue.
The NMTC is commonly used for mixed-use and multi-purpose projects in distressed communities. In the Coalition’s 2021 Progress Report (Covering projects financed in 2020), 42% of projects included more than one component. Learn more:
Components of multi-purpose NMTC Projects, 2020Components2020