Lancaster, CA (2011)

Lancaster Promenade

Financing to transform the formerly blighted downtown Lancaster into the new Lancaster Promenade: a vibrant social and commercial hub.

Investment

  • NMTC Amount: $15,665,500
  • Total Project Cost: $16,150,000

IMPACT

  • 46 FTE jobs
  • 250 construction jobs

Investor

Project Description

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 that 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.

MAP

Address: 653 WEST LANCASTER Boulevard, Lancaster, CA 93534

Census Tract: 6037900806

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