New Markets Tax Credit Coalition

Search

Carnival Center for Excellence

After 57 years of serving Miami in rental facilities, the Big Brothers Big Sisters Miami Foundation, Inc. secured a pledge to gain site control for a facility to become the organizations home.

Investment

  • NMTC Amount: $8,000,000
  • Total Project Cost: $12,645,543

IMPACT

  • 20 FTE jobs
  • 35 construction jobs
  • 23,000 sq. ft. of real estate

Investor

Project Description

After 57 years of serving Miami in rental facilities, the Big Brothers Big Sisters Miami Foundation, Inc. secured a pledge to gain site control for a facility to become the organizations home. Big Brothers Big Sisters of Greater Miami Valley utilized UDF’s investment to transform their new facility into an educational-mentoring resource center. Now known as the Carnival Center for Excellence, the new headquarters for Big Brothers Big Sisters of Miami provide a huge boost to kids that are mentored in the South Florida area. The building location was selected because it is conveniently located on a major thoroughfare with access to public transportation and free ground-level parking. The Carnival Center for Excellence opened early winter 2016 and costs for building and design totaled $7,000,000. The organization initially plans to use about 23,000 sq. ft. of the 43,000 sq. ft. facility and lease out the rest.

MAP

Address: 550 North Le Jeune Road, Miami, FL 33126

Census Tract: 12086004902

Other Florida Projects

Native American Bank provides NMTC-enhanced funding to a Tribal Business
NMTC financing for Care Resource Community Health Center to support a new facility.
Somerset Academy South Miami, SoMi, is a free, public charter school that opened its doors during the 2009-2010 school year.
Tthe adaptive reuse of a defunct greyhound racetrack on a 15-acre site in a severely distressed census tract