New Markets Tax Credit Coalition

Vogel Alcove

Financing for a provider of a broad array of therapeutic services for children who are experiencing homelessness in the Dallas area.

Investment

  • NMTC Amount: $5,880,000
  • Total Project Cost: $5,880,000

IMPACT

  • 6 FTE jobs
  • 55,000 sq. ft. of real estate

Investor

Project Description

Vogel Alcove provides a broad array of therapeutic services for children who are experiencing homelessness in the Dallas area. Vogel Alcove’s previous facility at 1100 South Akard served 115 homeless children daily with a waitlist of over 40 children.

NMTC financing supported a new facility, allowing the organization to increase its capacity to meet the needs of homeless families. The project consisted a build out of approximately 55,000 sq. ft. of space leased from the Dallas Independent School District in the site of the former City Park Elementary School, as well as a portion of Sponsor’s operating expenditures made within the first 12 months after NMTC closing. The build out included 3 infant classrooms, 5 toddler classrooms, and 4 preschool classroom, as well as a significant expansion to the space dedicated to family support.

By financing operating expenditures, Dallas Development Fund allowed Vogel to more quickly and increase the expansion of its operations

MAP

Address: 1738 Gano Street, Dallas, TX 75215

Census Tract: 48113020400

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