Search

Saint Louis, MO (2016)

Phat Buddha Productions

City First New Markets Fund II closed its first NMTC transaction of 2016 on February 4th.

Investment

  • NMTC Amount: $665,000
  • Total Project Cost: $665,000

IMPACT

  • 2 FTE jobs
  • 92,000 sq. ft. of real estate

Investor

Project Description

City First New Markets Fund I provided a $10MM allocation to support Building Bridges Across the River’s phase III expansion of Town Hall Education Arts Recreation Campus (‘THEARC’), which adds a three-story third building to the campus, whereby adding 92,000 sq. ft. to its current 110,000 sq. ft. footprint. Along with City First’s investment, an additional $22.25 million in NMTC financing came from Enterprise Community Partners, SunTrust, and Low Income Investment Fund. The phase III expansion allows THEARC to create even more demonstrable impacts by providing below-market space to the following pillars of the community:

  • Children’s National Health System will double its capacity by providing pediatric care to the most vulnerable children and families;
  • Appletree Institute for Education and Innovation will develop and provide research-based early childhood education programs to underserved 3 and 4 year-olds;
  • The Phillips Collection provides outreach art programs to the community and local schools;
  • The Bishop John T. Walker School for Boys provides a tuition-free private school education for one hundred boys in K-8th grade; and
  • Blackbox Theaters to provide space for school performances and community meetings.

MAP

Address: 1901 Locust Street, Saint Louis, MO 63103

Census Tract: 29510127500

PDF Profile

Related Projects

Grand Rapids, (2006)