Auburn Research Park

New Markets Tax Credit Coalition

Auburn,
AL
(2019)

Auburn Research Park

Adult Education, Business Development, College or Vocational Training, Community, Daycare and Early Childhood, Incubator, Mixed-use, Nonprofit Hub, Research, Youth and Families

NMTC equity helped fund the construction of a 105,000-sq. ft. office building at Auburn University in Alabama.

Investment

NMTC Amount: $6,800,000
Total Project Cost: $44,626,106

IMPACT

101 FTE jobs
125 construction jobs
There will be a special focus on training for starting new businesses, entrepreneurship and small business development. The project and its tenants will work with community-based organizations to place low-income persons with jobs.
105,000 sq. ft. of real estate

CDEs

Truist, United Bank of Alabama

Investor

Truist

Project Description

NMTC equity helped fund the construction of a 105,000 sq. ft. office building at Auburn University in Alabama. SunTrust Community Capital invested $3.2 million in NMTC equity in the property, which is called the Research and Innovation Center in the Auburn Research Park. UB Community Development allocated NMTCs to the development, which opened the third quarter of 2020 and generated 125 temporary full-time construction jobs and 101 permanent full-time jobs.

MAP

Address: 570 Devall Dr #101, Auburn, AL 36832

Census Tract: 1081040700

PDF Profile

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