New Markets Tax Credit Coalition

POST Houston

Financing for the POST Houston revitalization in downtown Houston, Texas.

Investment

  • NMTC Amount: $26,500,000
  • Total Project Cost: $31,000,000

IMPACT

  • 840 FTE jobs
  • 1,500 construction jobs
  • Rehabilitation of a vacant or under-utilized historic structure.
  • 525,000 sq. ft. of real estate

Investor

Project Description

NTCIC is pleased to announce the successful closing on historic financing for the POST Houston revitalization in downtown Houston, Texas. NTCIC syndicated the federal Historic Tax Credits (HTCs) earned by the project which generated over $23.7 million in equity. These funds allows the project sponsors to turn the former Barbara Jordan Post Office in Houston’s downtown Arts District into a one of a kind urban ecosystem, including one of the world’s largest rooftop parks and farms. The 525,000 sq. ft. former headquarters of the Houston Post Office became a mixed-use cultural and entertainment epicenter for the downtown area. Designed by OMA, the world-renowned architecture firm founded by Rem Koolhaas, the project includes one of Houston’s largest food halls, co-working and tech incubator space, a music and entertainment venue, designer retail, office, and one of the world’s largest rooftop parks and farms.

MAP

Address: 401 Franklin St, Houston, TX 77201

Census Tract: 48201100000

Other Texas Projects

A food manufacturing facility increased local production and added jobs in El Campo, TX
Financing for a provider of a broad array of therapeutic services for children who are experiencing homelessness in the Dallas area.
Interfaith Family Services, a nonprofit dedicated to empowering families in crisis to break the cycle of poverty, used NMTC financing for facilities improvements.
The NMTC supported Rich Products’ new state-of-the-art frozen dessert processing center is located in Missouri City, Texas.