Arbor Park Place (2,008)

Cleveland, OH

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NMTC Amount: $5,298,300.00

Est. Total Project Cost: $6,321,658.00

COMMUNITY IMPACT

One of the exceptional aspects of the New Market Tax Credit (NMTC) is how it brings together public and private entities to funnel capital to low-income urban and rural areas where, in the past, the risk for investors would have been too great. A case in point is the $6.2 million revitalization of the Longwood Plaza (now renamed Arbor Park Place) shopping center in Cleveland, Ohio, of which $1.57 million was made possible by the NMTC program.

Project Map