New Markets Tax Credits Portfolio & Approach
Approach
New Markets Tax Credits (NMTC) projects address local needs and strengthen the social and economic infrastructure of low-income neighborhoods, particularly in markets where Enterprise has a strong history of investment and staff on the ground.Projects will incorporate "green" characteristics that meet the Enterprise Green Communities Criteria or other recognized standards, reducing energy and operational costs and ensuring long-term viability. All of our NMTC investments provide measurable community impacts, including creating jobs and providing goods and services.
Portfolio
Our NMTC portfolio to date includes:- Placement of more than $600 million in commercial and mixed-use developments in urban centers and rural communities
- More than 7.3 million square feet of new or rehabilitated real estate
- 49 developments, including rental and for-sale housing, office, retail, hospitality, community centers, shelters, theatres and schools in 20 states and Washington, D.C.
California
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YWCA Job Corps Urban Campus Los Angeles $15.5 million, New Markets Tax Credits 155,000 square feet New construction; Mixed-use community services facility |
Illinois
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The Ray and Joan Kroc Corps Community Center Quincy, Ill. $33.9 million 96,000 square feet community center |
Maryland
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Belvedere Square Baltimore $11.5 million Senior and subordinate debt Retail, Mixed-Use Commercial |
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CASA Multicultural Center Langley Park, Md. $7.9 million Rehabilitation; Office/Community Center |
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East Baltimore Development Inc. Baltimore $15 million loan (Phase I - 2004) $18.4 million loan (Phase II - 2007) Office, Residential, Retail; New Construction |
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Miller's Court Baltimore $9.4 million Rehabilitation; Mixed-Use with Rental Housing Component |
Massachusetts
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Whittier Street Health Center Boston $15 million New Construction: Community Health Center |
Michigan
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The Argonaut Building Detroit $15 million Rehabilitation; Mixed-Use |
Missouri
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Crown Square St. Louis, Missouri $12.5 million Mixed-Use - Commercial and Residential Rental |
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Fashion Square St. Louis $25 million Senior and subordinate debt Tax credit equity Commercial, Loft Apartments |
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Green Park Broadway St. Louis $11 million Service Center/Retail/Office |
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The Old Post Office St. Louis $8.2 million Senior debt Historic Rehabilitation, Commercial and Retail Development |
Nebraska
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Tip Top Building Omaha, Neb. $12 million Senior and subordinate debt Residential/Loft Apartments, Commercial |
New York
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Anheuser Busch Wholesale Distribution Facility Bronx, N.Y. $20 million Senior debt Industrial; New Construction |
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Bathgate Early Learning Center New York $14.8 million Senior and subordinate debt School Rehabilitation |
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Boricua College Bronx, N.Y. $11 million Junior subordinated debt financing Educational Facility/Commercial Space |
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College Park Schenectady, N.Y. $10 million Commercial, New Construction |
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Ellicott Commons/Oak Street School Buffalo, N.Y. $10.5 million Senior and subordinate debt Tax credit equity Mixed-Use, Historic Rehab, New Construction |
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Harrison Circle-Morris Heights Health Center Bronx, N.Y. $10 million |
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Urban Health Plan (UHP) South Bronx, N.Y. $15 million Rehabilitation, New Construction; Healthcare 54,000 square feet |
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VOA Domestic Violence Shelter New York $7.7 million Emergency Shelter with Supportive Services |
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North Carolina
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American Tobacco - Phase II Durham, N.C. $19.5 million Senior and subordinate debt Mixed-Use; Rehabilitation |
Ohio
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Columbus Housing Partnership Columbus, Ohio $9.5 million Residential/Single-family Homeownership |
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Oberlin-East College Street Oberlin, Ohio $5 million New Construction; Mixed-Use with Rental and For-Sale Housing |
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Shaker Square Cleveland $10.5 million Senior and subordinate debt Historic Rehabilitation, Retail Center |
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South Campus Gateway Columbus, Ohio $12 million Senior debt Mixed-Use, Retail and Residential |
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Uptown at University Circle Cleveland $10 million New construction; mixed-income residential and retail |
Oregon
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Rosa Parks Elementary Portland, Ore. $13.2 million Structured financing Public school facility |
Pennsylvania
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Monessen Riverfront Development Monessen, Pa. $7 million Senior debt Manufacturing Facility |
Tennessee
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Court Square Center Memphis, Tenn. $22.35 million Residential/Office/Retail |
Texas
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Drury Alamo San Antonio $25 million Permanent debt Redevelopment of Alamo National Bank building into Hotel |
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Eleven East Corporation - Curve & Waller Buildings Austin, Texas $7.8 million Bridge loan and subordinate debt Retail, Mixed-Use Commercial |
Utah
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Artspace Commons North Salt Lake City $20 million New Construction; Commercial and Residential |
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YWCA of Salt Lake City Expansion Salt Lake City $15 million New Construction; Shelter and Transitional Housing with Services |
Virginia
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Our Health Community Services Complex Phase II Winchester, Va. $10 million Rehabilitation; Health Care and Social Services Campus |
Washington
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Hope Place Seattle $10 million Mixed-use, Transitional Housing, Retail; New Construction |
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Martin Woldson at The Fox Theater Spokane, Wash. $16 million 1,730 seat historic theater renovation |
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Squire Park Plaza Seattle $15.5 million Mixed Income Residential/Office/Retail/ Parking; New Construction |
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Jim Wiley Community Center White Center, Wash. $11.5 million Community Center |
Washington, D.C.
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Ontario Court Washington, D.C. $9.4 million Mixed-use; affordable residential rental, early childhood center |
Wisconsin
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33 East Main Street Madison, Wis. $16.9 million Senior and subordinate debt Retail/Office; New Construction |
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Submit a Deal
Is your project eligible for Enterprise's NMTC program?
To learn more, submit your preliminary project information:
To learn more, submit your preliminary project information:
- Complete the Project Summary Form
- Email it to the NMTC team
Portfolio Updates
Whittier Street Health Center is now open!
Thanks in part to Enterprise's NMTC allocation. www.boston.com
Thanks in part to Enterprise's NMTC allocation. www.boston.com