Lancaster Promenade (2011)

Lancaster, CA

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NMTC Amount: $15,665,500

Est. Total Project Cost: $16,150,000

COMMUNITY IMPACT

Lancaster Promenade exemplifies downtown revitalization and the economic benefit created through New Markets Tax Credit financing. The welcoming pedestrian oriented promenade features renovated retail space for local businesses, a movie theater, restaurants, and an art history museum. Lancaster Promenade is a community event space which features weekly farmer’s markets, holiday celebrations, and promotional events.

Clearinghouse CDFI provided $19.5 million of New Markets Tax Credit allocation to transform the formerly blighted downtown Lancaster into the new Lancaster Promenade: a vibrant social and commercial hub.

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