New Markets Tax Credit Coalition

  • San Jose,
  • CA
  • (2021)

Sacred Heart Community Services

District: Zoe Lofgren (D-CA18)

The NMTC financing supported the renovation of a two-story, 12,000 sq. ft. building in San Jose to provide additional space for a nonprofit's growing programs and services.

Investment

  • NMTC Amount: $9,500,000
  • Total Project Cost: $9,772,506

IMPACT

  • 114 FTE jobs
  • 10 construction jobs
  • 180,000 meals served per year, 40,000 total people served
  • 12,000 sq. ft. of real estate

CDEs

,

Investor

Project Description

The NMTC financing will allow for acquisition and renovation of a two-story, 12,000 sq. ft. building in San Jose to provide critically-needed additional space to support the nonprofit’s growing programs and services.

The building is located one mile from Sacred Heart’s existing headquarters in San Jose. The renovated building will house approximately 65 staff and will include 11 meeting rooms, along with space for community meetings and trainings. The renovation will also include installation of an elevator for accessibility to the second floor.

MAP

Address: 550 South First Street, San Jose, CA 95113

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