Neighborhood Development Center (2020)

Saint Paul,

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NMTC Amount: $9,000,000

Est. Total Project Cost: $11,677,765

COMMUNITY IMPACT

The NMTC proceeds are to be used to finance the construction of an appoximately 19,820 SF building to be leased by Borrower to Project Sponsor (12,000 SF) for use serving low-income entrepreneurs as a small business incubator and entrepreneur training center in Saint Paul, MN. The NDC Entrepreneur Training Center building is part of a more comprehensive 90,000 SF development which will have 40 units of affordable family housing on top of the commercial office space. The housing units will be affordable to families at 40-60% of the area median income. The housing portion of the development will be a separate condominium and will be funded by separate sources.

Project Map