Sacred Heart Community Services

New Markets Tax Credit Coalition

San Jose,
CA
(2021)

Sacred Heart Community Services

College or Vocational Training, Shelters and Community Food

The NMTC financing supported the renovation of a two-story, 12,000 sq. ft. building in San Jose to provide additional space for a nonprofit's growing programs and services.

Investment

NMTC Amount: $9,500,000
Total Project Cost: $9,772,506

IMPACT

114 FTE jobs
10 construction jobs
180,000 meals served per year, 40,000 total people served
12,000 sq. ft. of real estate

CDEs

Partners for the Common Good, USBCDE

Investor

US Bank

Project Description

The NMTC financing will allow for acquisition and renovation of a two-story, 12,000 sq. ft. building in San Jose to provide critically-needed additional space to support the nonprofit’s growing programs and services.

The building is located one mile from Sacred Heart’s existing headquarters in San Jose. The renovated building will house approximately 65 staff and will include 11 meeting rooms, along with space for community meetings and trainings. The renovation will also include installation of an elevator for accessibility to the second floor.

MAP

Address: 550 South First Street, San Jose, CA 95113

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