New Markets Tax Credit Coalition
â100 Prince was an opportunity for our team to bring affordable housing, grocery and local retail to an urban food desert which suffers from high rents and had not seen multi-family residential construction in over ten years. The project financing was complex, and without the New Markets Tax Credit subsidy, this project wouldnât have gotten off the ground. Throughout the process, Cherry Bekaertâs strategic financing team was instrumental in arranging the NMTC sources and guiding our team along with myriad funders through to a successful closing.â
The 100 Prince project is the redevelopment of the former St. Joseph’s Catholic Church into a mixedâuse site that includes: 34 housing units (10 units was 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.).
Address: 100 Prince Avenue, Athens, GA 30601
Census Tract: 13059001900
Formed in 2003, American Peanut Growers Group LLC is a farmer-owned cooperative shelling plant that returns the profit over the farmer stock price directly back to the growers through distributions,