CDE: MBS Urban Initiatives

To all NMTC Coalition Members: If you would like to add projects, a description of your CDE, or anything else to this page, contact Paul Anderson.

Recent Allocation Awards:

Project Profiles and Stories

Dayton Arcade

Community, Grocery and Fresh Food, Mixed-use

CDE(s): Consortium America, Dayton Region New Markets Fund, MBS Urban Initiatives, RBC Community Development

Investment fills financing gap and ends 30 years of vacancy for iconic Dayton structure

Pittsburgh Glass Center

Pittsburgh,
PA
(2022)

Arts, Manufacturing, Vocational Training

CDE(s): Building America CDE, MBS Urban Initiatives

The project involves the $12.2 million renovation and/or expansion of two buildings supporting the work of the Pittsburgh Glass Center (“PGC”), a local nonprofit, public-access education center, art gallery and

Dayton Arcade – Final Phase

Dayton,
OH
(2023)

Mixed-use

CDE(s): Consortium America, Dayton Region New Markets Fund, MBS Urban Initiatives, RBC Community Development

Final phase. 7 buildings, $41 million overhaul. Retail marketplace with space for 15 retailers. Hotel, restaurant, bar.

Center for Transforming Lives: Riverside Campus

Fort Worth,
TX
(2023)

Healthcare, Nonprofit Hub

CDE(s): Capital Impact Partners, Capital One, MBS Urban Initiatives, Pacesetter CDE, PeopleFund NMTC

Center for Transforming Lives announces double-capacity expansion to change the landscape for women and children

Boston Square

Grand Rapids,
MI
(2023)

Nonprofit Hub

CDE(s): Cinnaire New Markets, MBS Urban Initiatives, Petros Community Impact Fund, PNC

Construction of a two-story 49,000 sq. ft. multi-purpose community hub includes an early childhood learning center, workforce development/ co‐working space, and a wellness center.

Northside Community Hub

Memphis,
TN
(2023)

Goodwill, Nonprofit Hub

CDE(s): Hope Enterprise, MBS Urban Initiatives, Pathway Lending, Rose Urban Green Fund, USBCDE

Led by the development team of CompCap Partners and the Works, the Northside Community Hub project will breathe new life into a high school building, shuttered since 2016. Once completed,

West Texas Food Bank

Midland,
TX
(2016)

Food Bank or Pantry

CDE(s): MBS Urban Initiatives, USBCDE

NMTC financing supported new construction of a 11,150 sq. ft. facility for food bank education and programming, food storage, and distribution.

Ponce Health Sciences University

Ponce,
PR
(2020)

College or Vocational Training, Community, FQHCs, Healthcare, Higher Education

CDE(s): Community Hospitality Healthcare Services, MBS Urban Initiatives, Primary Care Development Corporation, The Valued Advisor Fund

The development of a state of the art 134,251 sq. ft. Academic Center, replacing and expanding facilities destroyed during Hurricane Maria.

Aerofarms – VEGS1

Newark,
NJ
(2018)

Timber and Agriculture

CDE(s): GS New Markets Fund, MBS Urban Initiatives, New Jersey Community Loan Fund

Improvement of a light industrial building and its temperature control systems to improve the operations of aeroponic vertical farming company; Industrial facility anchored by fresh food grower and distributor.

Sunwheel Energy + Sustainability, an affiliate of McCormack Baron Salazar, receives St. Louis Mayor’s Sustainability Award

Energy, Environment, Solar

CDE(s): MBS Urban Initiatives

Axiom Construction Scores Financing for Downtown Homestead Station Project

Arts, Community, Infrastructure, Library, Mixed-use, Theaters and Performing Arts Spaces, Transportation and Ports

CDE(s): Capital One, MBS Urban Initiatives, Popular Community Capital

San Jose Educare Project Shows Importance of the NMTC for Nonprofits Community Facilities

Behavioral Health, Community, Daycare and Early Childhood, Healthcare, Youth and Families

CDE(s): MBS Urban Initiatives, PeopleFund NMTC, Texas Mezzanine Fund

Mission Foods to Open Massive Hub in Texas

Business Development, Food Manufacturing, Manufacturing

CDE(s): MBS Urban Initiatives, Texas Mezzanine Fund, The Valued Advisor Fund, USBCDE

Citi, New Markets Community Capital, and MBS Urban Initiatives Partner with rPlanet Earth to Create High-Quality Jobs and Increase Availability of Recycled Materials in Southern California

Business Development, Manufacturing, Waste Management

CDE(s): Citibank, MBS Urban Initiatives, TELACU

Rhino Health USA

Fort Worth,
TX
(2022)

Manufacturing

CDE(s): MBS Urban Initiatives, Pacesetter CDE, Prestamos CDFI, Stonehenge Community Development, Texas Mezzanine Fund

The mixed-use home and headquarters for Kone Company.

Mission Plaza – Foundation Communities

Austin,
TX
(2019)

Affordable Housing, College or Vocational Training, Daycare and Early Childhood, Nonprofit Hub

CDE(s): MBS Urban Initiatives, PeopleFund NMTC

This $17 million NMTC financing, in partnership with PeopleFund, MBS Urban Initiatives CDE, and US Bancorp Community Development Corporation, allowed Foundation Communities, a non-profit affordable housing developer, to acquire Mission

Brooklyn Navy Yard, Building 127

Brooklyn,
NY
(2018)

Arts, Business Development, Community, Manufacturing, Mixed-use, Mixed-use and Commercial, Theaters and Performing Arts Spaces

CDE(s): Dudley Ventures, GS New Markets Fund, MBS Urban Initiatives, NYC Neighborhood Capital Corporation, NYCR-CDE

Renovation of Building 127 into a light industrial and innovative office space

Wheatley School Facility Foundation, Inc.

New Orleans,
LA
(2013)

Affordable Housing, Community, Healthcare, Housing, Schools, Theaters and Performing Arts Spaces, Youth and Families

CDE(s): GS New Markets Fund, MBS Urban Initiatives

The Phillis Wheatley pre-K-8 School project brought a state-of-the-art facility to the impoverished Iberville-Tremé neighborhood of New Orleans.

Variety Boys & Girls Club

Los Angeles,
CA
(2010)

Boys and Girls Clubs, Community, Youth and Families

CDE(s): MBS Urban Initiatives

Founded in 1949, Variety Boys & Girls Club serves children in the Boyle Heights neighborhood of Los Angeles.

Terasaki Budokan

Los Angeles,
CA
(2018)

Community, Daycare and Early Childhood, Recreation, Youth and Families

CDE(s): Accion Opportunity Fund, Los Angeles Development Fund, MBS Urban Initiatives

Financing for Budokan, a multi-purpose community facility in a highly distressed area of downtown Los Angeles.

GRUMA Grand Prairie, LLC

Grand Parairie,
TX
(2019)

Business Development, Food Manufacturing, Manufacturing

CDE(s): MBS Urban Initiatives, Texas Mezzanine Fund, The Valued Advisor Fund, USBCDE

The construction of three additional production lines, line expansions, new distribution, and the purchase of shipping and material handling equipment for food manufacturing facility.

National Dance Institute Center for Learning and the Arts

New York,
NY
(2010)

Affordable Housing, Arts, College or Vocational Training, Community, Housing, Mixed-use

CDE(s): MBS Urban Initiatives

Financing for the acquisition and development of a community space within PS 90 - a Harlem public school building abandoned for 30 years.

David L. Podell House – Educational Alliance of NY

New York,
NY
(2012)

Adult Education, Behavioral Health, College or Vocational Training, Community, Daycare and Early Childhood, Healthcare, Mixed-use, Youth and Families

CDE(s): Consortium America, Dudley Ventures, GS New Markets Fund, MBS Urban Initiatives

A $51.5 million one-of-a-kind community facility is now home to early childhood education programs, youth development and education programs, mental health counseling, art education programs for young artists and seniors,

MacArthur Park Transit-Oriented Development

Los Angeles,
CA
(2010)

Affordable Housing, Community, Mixed-use, Retail, Transit Oriented Development

CDE(s): MBS Urban Initiatives

NMTC financing supported the construction of the MacArthur Park Transit-Oriented Development

Friend Health Woodlawn HQ

Chicago,
IL
(2020)

Affordable Housing, Community, FQHCs, Healthcare, Mixed-use, Racial Equity, Retail, Retail and Commercial, Targeted Populations

CDE(s): MBS Urban Initiatives, SCORE, Urban Development Fund (Aries Capital)

Construction of a 38,000 square foot new medical clinic and corporate offices located in the economically distressed and medically underserved neighborhood of Woodlawn on Chicago’s south side.

Green Era Sustainability Campus

Chicago,
IL
(2020)

Adult Education, Brownfield Remediation, Business Development, College or Vocational Training, Community, Daycare and Early Childhood, Environment, Food Manufacturing, HFFI, Incubator, Manufacturing, Timber and Agriculture, Youth and Families

CDE(s): Dudley Ventures, MBS Urban Initiatives, SCORE, USBCDE

An innovative project redeveloped a vacant 9-acre brownfield site into a sustainability campus which includes a biodigester, greenhouse space, community garden with a fresh produce stand and a visitor’s center

San Antonio Food Bank Phase 2

San Antonio,
TX
(2020)

Adult Education, College or Vocational Training, Community, Community Kitchen, Culinary Entrepreneurship, Food Bank or Pantry, Food Manufacturing, HFFI, Homeless Services, Manufacturing, Shelters and Community Food

CDE(s): MBS Urban Initiatives, PeopleFund NMTC, Texas Mezzanine Fund

Financing for a new 50,000 sq. ft. facility will house a production kitchen, an expanded area for culinary training, a vegetable prep plant, and a seasonal venison processing plant.

rPlanet Earth Los Angeles, LLC

Vernon,
CA
(2016)

Business Development, Food Manufacturing, Manufacturing, Plastics and Chemicals, Waste Management

CDE(s): Citibank, MBS Urban Initiatives, TELACU

NMTC financing supported a new facility for rPlanet Earth, a new company that is bringing more efficient polyethylene terephthalate (PET) recycling to the United States.

Childsafe

San Antonio,
TX
(2017)

Behavioral Health, Community, Daycare and Early Childhood, Healthcare, Youth and Families

CDE(s): MBS Urban Initiatives, PeopleFund NMTC, Texas Mezzanine Fund

The construction of new facility for ChildSafe, a children's advocacy center that provides care for child survivors of physical, emotional and sexual abuse and to their non-offending family members.

Sunwheel Energy

Saint Louis,
MO
(2009)

Energy, Environment, Solar

CDE(s): MBS Urban Initiatives

This project financed energy-efficient, water-efficient, and healthy homes.

St. Louis Housing Authority Central Office Building

Saint Louis,
MO
(2008)

Arts, Community, Infrastructure, Municipal Facilities

CDE(s): MBS Urban Initiatives

he St. Louis Housing Authority Central Office Building, located in the Midtown area of St. Louis at the north end of the Grand Center Arts District.

St. Louis Food Hub

Saint Louis,
MO
(2012)

Business Development, Community, Food Bank or Pantry, Food Manufacturing, Grocery and Fresh Food, HFFI, Homeless Services, Incubator, Manufacturing, Retail, Retail and Commercial, Shelters and Community Food

CDE(s): Central Bank of Kansas City, Enterprise Financial CDE, MBS Urban Initiatives, USBCDE

Financing for a grocery store and a food distribution, processing and aggregation facility.

KIPP High School

Saint Louis,
MO
(2017)

Community, Mixed-use, Schools

CDE(s): MBS Urban Initiatives

The renovation of a 110,000 sq. ft. building, which includes K-12 school facilities.

Habitat for Humanity St. Louis

Saint Louis,
MO
(2012)

Affordable Housing, Community, Grocery and Fresh Food, Habitat for Humanity, HFFI, Housing, Retail, Retail and Commercial

CDE(s): MBS Urban Initiatives

A development, completed in 2011, breathed new life into the JVL neighborhood, creating 71 construction jobs and generating $6.3 million in direct employee wages and income.

Crown Square

Saint Louis,
MO
(2007)

Affordable Housing, Historic Tax Credit, Mixed-use, Retail, Retail and Commercial

CDE(s): Enterprise Community Partners, MBS Urban Initiatives

The Crown Square redevelopment involved the historic rehabilitation of 11 buildings of the 14th Street Mall, an abandoned mall that formerly served as a pedestrian-oriented commercial district located in the

Better Family Life Cultural Educational and Business Center

Saint Louis,
MO
(2012)

Arts, Community, Racial Equity, Targeted Populations

CDE(s): MBS Urban Initiatives

Financing for a community development not-for-profit corporation dedicated to the prosperity and growth of the American family.