Enterprise Community Partners | New Markets Tax Credit Coalition

Atlantic Avenue Industrial Center

Greenpoint Manufacturing and Design Center (GMDC) renovated a 50,000 square foot industrial building to create a manufacturing facility for several small-scale manufacturers. Located in Crown Heights Brooklyn just a few blocks from public transportation, the facility provides affordable space, for woodworkers, custom frame builders, metal workers, ceramic artists, and other artisanal trades. The renovated facility will achieve LEED Silver certification.

Argonaut

An arts and design College and dorm, Charter Middle/High School and business accelerator: Located in downtown Detroit, MI, The Argonaut project converted a historic GM building into a 760,000 sq. ft. mixed-use educational facility. The College of Creative Studies’ expansion campus features educational facilities for undergraduate and graduate programs, residential facilities for up to 300 students and an arts and design middle and high school serving approximately 900 students annually. The project achieves LEED Certification for Existing Buildings, incorporates sustainability features, and may incorporate alternative energy generation once construction is complete. Six NMTC allocatees were involved in the transaction to overcome long-standing development hurdles. (NNMF NMTCs: $7.5 million)

CASA Multicultural Center

CASA de Maryland, Inc. (CASA), Maryland’s largest advocacy group for Latinos and immigrants, redeveloped the historic McCormick-Goodhart Mansion in Langley Park, Md., into the CASA Multicultural Center. The new center will allows CASA to double the number of beneficiaries the organization can serves each year from 3,000 to 6,000 and consolidated most of its staff into one location. CASA will also subleted 400 square feet of the new space to four of its non-profit nonprofit partner organizations.

Remington Row 1

Remington Row is a 250,000 square foot mixed-use, new construction project in the heart of the Remington neighborhood in Baltimore, Maryland. It is the first of several, planned redevelopment projects along three adjacent blocks, designed to fill a need for community services, retail and reasonably-priced apartments and to catalyze further investment in the neighborhood. The building features a 30,000 square foot health clinic, 15,000 square feet of retail, 108 apartments, and three floors of underground parking. The apartments are priced below-market, and 20 percent of the units are affordable to families earning less than 80 percent of area median income.

Pittsburgh Yards

In 2017, a $6,500,000 NMTC transaction allocated funds to finance the first phase of development of a business incubator for small businesses in the Pittsburgh neighborhood of Atlanta. Previously a 31-acre industrial site, the vision of this project is to develop an economic catalyst in an area where living-wage jobs and economic opportunities are scarce. Phase 1 of this development is set to create a commercial village with a wide variety of locally-owned businesses. Creating a business space and maker hub will fuel entrepreneurship and job creation at a grassroots level. The building will also be a community space for various neighborhood functions. In addition to the buildings, Phase 1 of this development includes establishing pedestrian-oriented infrastructure to provide easy access to and from the Pittsburgh neighborhood and the future BeltLine. More: In 2006, the Annie E. Casey Foundation (AECF) acquired a 31-acre industrial brownfield site from UPS, with a vision to develop an economic catalyst in an area where living-wage jobs and economic opportunities are scarce. The property is located in the Pittsburgh neighborhood of Atlanta and enjoys easy access to interstates I-75 and I-85. It is adjacent to the Atlanta BeltLine and close to both the downtown area and Hartsfield-Jackson International Airport. Once the multiple phases of the project are complete, Pittsburgh Yards is anticipated to be a vibrant, living-wage job ecosystem that clusters a range of businesses together, including industrial, office and administrative, artistic and creative enterprises. Columbia Ventures, in a joint venture partnership with Atlanta based Core Ventures, was brought on board by the Foundation to help bring this vision to life. Phase I of development will include the adaptive reuse of an existing 61,000 square foot structure into a commercial village of small businesses, a multi-purpose green space for youth soccer and community activation, a business-centric container yard along the BeltLine, three adaptable pad-ready sites for future tenants, and the infrastructure to support these components. This phase is funded by a combination of New Markets Tax Credit Equity and debt from the AECF. It will be completed in the Summer of 2019.

HealthRIGHT 360

HealthRIGHT 360’s project involved the acquisition and renovation of a 48,000 square foot building in the heart of San Francisco. The new building opened its doors in 2017 as an integrated health care center for low-income and safety-net patients, offering a comprehensive array of services including primary medical and chronic disease treatment, dentistry, mental health services, substance use disorder treatment services that address the social determinants of health (housing, employment, education, computer literacy and wellness), and a low-cost pharmacy. The facility includes 30,000 square feet of medical space which includes dental services and a pharmacy, 10,000 square feet of mental health and social service space and 10,000 square feet of administrative space.

100 Prince Avenue, LLC

The 100 Prince project is the redevelopment of the former St. Joseph’s Catholic Church into a mixed‐use site to include: 34 housing units (10 units will be affordable @ 80% AMI); a grocery space; three small shop spaces. The retail portion of the project consists of construction and development of 20,357 sq. ft. of retail space with subsidized rent space for a Piggly Wiggly Express (10,000 sq. ft.) and other subsidized retail/restaurant space (10,357 sq ft). The lead tenant, Piggly Wiggly is known as a low‐price food provider. They will provide fresh produce, meat, baker and dairy areas, as well as other standard food. The store will be a franchise store owned by a minority business enterprise that already operates several Georgia stores. Downtown Athens is a food desert. The ability for local residents to find fresh and healthy food alternatives has been limited. – none CBA: yes, the project is located in a severely underserved community and the availability of NMTCs has enabled lenders to provide the loan on terms and conditions that are flexible and non-traditional; and provide Residential rental units to income restricted (80% of MFI) individuals. Prince Avenue Market is the new construction of a four-story, mixed-use building with 20,500 square feet of retail and commercial space and 34 homes in Athens, Georgia. The retail space is anchored by the first full-service urban grocery store in the area, providing much needed access to affordable fresh food. The project is part of a larger multi-phase development and adaptive reuse of the former St. Joseph’s Catholic Church adjacent and surrounding properties.

Essex Crossing

Essex Crossing includes 1,000 residential for-sale and rental units, a 15,000 sf public park, a 10,000 sf rooftop urban farm and 1.9 million square feet of residential, commercial, and community space.

Madisonville Redevelopment

Madisonville Redevelopment aims to revitalize three buildings across three city blocks in the Madisonville neighborhood of Cincinnati, Ohio. The project is the first phase of a catalytic redevelopment of the Madisonville neighborhood. The project will include 106 apartments, 11,000 square feet of renovated and expanded Federally Qualified Health Center (FQHC) space,10,000 square feet of new construction office space and 24,500 square feet of new and renovated retail space. Almost a quarter of the homes will consist of below-market workforce apartments available to households earning 80% or less of Area Median Income (AMI).

Yakima YMCA

Yakima YMCA Association is constructing a new $20 million, 72,000 square foot YMCA facility in Yakima, Washington. The project will create living wage jobs and provide high quality programming to the city’s at-risk population. Yakima YMCA offers no-cost programs year-round for early childhood education and for drop-in youth that provide a safe, adult supervised space for social, recreational and academic support. The new facility will quadruple the number of individuals served by the YMCA and encourage more families to experience the YMCA as part of their everyday lives.