In the Pipeline

Ribbon cuttings and projects financed in 2019 as this report goes to press

In June of 2019, the CDFI Fund awarded $3.5B in NMTC allocation, but dozens of projects were financed in the winter and spring by CDEs with allocation remaining from their previous awards. Below are a few examples:

Santa Barbara Rescue Mission, Santa Barbara, CA

NMTC financing helped renovate one of the largest providers of homeless housing and services in the Santa Barbara area – the Santa Barbara Rescue Mission. Once renovated, this organization is projected to better serve an estimated 1,600 unique low-income individuals annually.

Casa de Maryland, Baltimore MD

CASA de Maryland broke ground in the spring of 2019 its second NMTC project, the $14 million renovation of the former Belnord Theater into an employment center for immigrant and minority city residents. Services will be significantly expanded, allowing CASA to serve an additional 7,000 low-income residents annually, for a total of 11,000 a year.

Responsive Surface Technology, Atlanta, GA

Responsive Surface Technology, an Atlanta-based Smart Bed and sleep technology innovator, received NMTC financing enabling the company to expand its marketing and research efforts and also help it open its first company-owned store in West Midtown.

Prince Avenue Market, Athens, GA

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.

Caritas Healing Place, Richmond, VA

Financing for the rehabilitation of the vacant Philip Morris Blended Leaf Complex in downtown Richmond, VA nto a new headquarters for Congregations Around Richmond To Assure Shelter (CARITAS). Once complete, the former tobacco processing warehouse will become a center of support and recovery for those experiencing homelessness and battling addiction or substance use disorders.