New Markets Tax Credit Coalition

Search

One Hope United Joliet

The transformation of a vacant elementary school located on a federally designated brownfield site in a low-income community in Joliet into a holistic childcare center for children ages 6 weeks to 6 years operated by One Hope United.

Investment

  • NMTC Amount: $5,000,000
  • Total Project Cost: $6,323,979

IMPACT

  • 50 FTE jobs
  • 41 construction jobs
  • 208 children served.

CDEs

Investor

Project Description

The One Hope United Project involved the transformation of a vacant elementary school located on a federally designated brownfield site in a low-income community in Joliet into a holistic childcare center for children ages 6 weeks to 6 years operated by One Hope United. The nonprofit group provides high-quality early childhood care to predominately low-income individuals. Prior to funding, an IFF report ranked Joliet as first in need among Illinois municipalities for general childcare for children ages 0 to 5 years. Within this new facility, One Hope provides early childhood education services to 208 children per year, 90% of which are members of low-income families. The lack of quality childcare was a significant concern for this community experiencing unemployment and median household income average above national benchmarks. The Project brought a city asset back to life while providing a valuable service to the community.

MAP

Address: 500 Parks Avenue, Joliet, IL 60432

Census Tract: 17197881302

Other Illinois Projects

A million sq. ft. of new, rail-served manufacturing and warehousing space in the industrial development along the Mississippi River's Chain of Rocks shipping canal.
Jazz at Walter Circle is a four-story mixed-use facility that includes 74 apartments for senior citizens.
Financing for a manufacturer of customized countertops.
The purchase of and renovate a building which replaces its Portage Park clinic, provide more services to that patient population and attract a substantial number of new patients.