College Park

New Markets Tax Credit Coalition

Jacksonville,
FL
(2022)

College Park

Business Development, Community, Grocery and Fresh Food, Retail, Retail and Commercial

The $18 million rejuvenation of a shopping center creates over 100 jobs in Jacksonville, FL

Investment

NMTC Amount: $15,000,000
Total Project Cost: $18,154,910

IMPACT

96 FTE jobs
50 construction jobs
The expected impact on the racial equity on the College Park project is threefold - job creation, blight removal and healthy foods. The project and the new anchor tenant have committed to hiring community based LIP for the new jobs to be created by this p
183,421 sq. ft. of real estate

CDEs

Local Initiatives Support Corporation, RBC Community Development

Investor

PROPEL Investment Fund

Project Description

RBC and LISC provided $15 million in NMTC financing toward the $18 million rejuvenation of a shopping center. The project addresses community needs identified in Jacksonville’s Renew Arlington Community plan.

A second phase of the project will involve the development of housing and a food court with alternative financing.