NNMF Projects

National New Markets Fund (NNMF) is an ten-time NMTC allocatee that has received $542 million in New Market Tax Credits allocation.  Our deployed allocation has funded thirty five high-impact projects throughout the U.S.  in areas with extreme poverty levels.  NNMF invests in all key asset categories including mixed-use, workforce and affordable housing, industrial, commercial retail, office buildings and hospitability and community facilities.

  • Responsible Stewards of Taxpayer Dollars
    We actively seek projects with the strongest economic and community impacts.
  • Expeditious Deployment of NMTCs
    We are committed to an efficient turnaround of taxpayer dollars with a goal of putting funding to work within 12 months.
  • Significant Environmental Sustainability
    Our minimum goal is LEED silver certification and/or achievement of significant energy savings.

NNMF's Investment Projects

Below you'll find a complete list of NNMF investment projects including our Award Winners. View all projects by scrolling down the page or for quick access to a specific project, please select from the dropdown menu.

Please select a project to view
  • American SpiralWeld Pipe
  • Swiss Krono
  • Flex-N-Gate
  • Date of closing December 2018
    Total Costs $90 million
    Total NMTCS $34 million
    American SpiralWeld Pipe (Paris,  TX) | View Map

    American SpiralWeld Pipe specializes in producing spiral-welded steel pipes for various heavy industrial applications, including water, waste-water, and hydropower. ASWP is a division of American Cast Iron Pipe Company, which was founded in 1905, in Birmingham, Alabama. This project will construct and equip a 290,000 sf facility that manufactures flat rolled steel coil which will be shipped to the plant via rail and manufactured into large-diameter steel pipe. The project is located in both the Paris Enterprise Zone and the Paris Opportunity Zone. When fully stabilized, the new American SpiralWeld Pipe plant will create up to 115 permanent jobs in a community designated as a distressed rural census tract, with a poverty rate of 21% and an unemployment rate of 4%. (NNMF NMTCs: $16 million)

  • Date of closing September 2018
    Total Costs $288 million
    Total NMTCS $45.25 million
    Swiss Krono (Barnwell,  SC) | View Map

    Swiss Krono Group is a leading manufacturer of engineered wood flooring products. It’s US subsidiary, Swiss Krono, LLC manufactures laminate wood flooring in Barnwell, SC. Currently, Swiss Krono purchases 100% of their high density and medium density fiberboard for use in the flooring lines from distant third parties. Their dependency on a small number of suppliers for the primary raw material in their products generates significant pricing risk, drives higher inventory levels, puts them at a competitive disadvantage and adds $7 million in annual transportation costs. This project seeks to expand their Barnwell location, installing a new manufacturing line that will allow them to produce high and medium density fiberboards on-site, thus eliminating the costs and risks of depending on their suppliers as well as eliminating thousands of truck trips annually and the related emissions. Barnwell and the surrounding counties have been struggling with persistent poverty (21.8%) and high unemployment (8.8%) from the loss of textile and tobacco jobs for 30 years. .  (NNMF NMTCs: $17 million)

  • Date of closing July 2018
    Total Costs $40 million
    Total NMTCS $40 million
    FLEX-N-GATE (Detroit,  MI) | View Map

    Flex-N-Gate produces a variety of products and systems for the automotive industry. The privately owned firm’s divisions include: plastics, metals, lighting and mechanical assemblies. Flex-N-Gate will construct a $135M+, 485,000 square-foot manufacturing facility on a 30.5 acre local-Brownfield site. Primary operations will be stamping, welding, injection molding and assembly of various car parts for original equipment manufacturers. This facility, located in a Michigan Renaissance Zone, I-94 Industrial Park Dev. District, and Detroit Brownfield Redevelopment Authority Zone has 51.9% poverty, 38.44% AMI, and Unemployment 3.24x national average, is projected to create 700 quality full-time jobs at stabilization, helping bring back lost auto industry jobs to Detroit.  (NNMF NMTCs: $17 million)

  • Date of closingJanuary 2016
    Total Costs$10.95 million
    Total NMTCS$10 million
    AMERICAN TUBING ARKANSAS (Springdale, AR) | View Map

    ATA was formed in 2015 and acquired equipment from American Tubing, Inc. – a Springdale-based company founded in 1976 to manufacture and fabricate components for refrigeration, HVAC (heating, ventilation and air conditioning), defense and automation products. The new Springdale plant will employ cutting-edge brazing technology that reduces the contamination between aluminum and copper. It will also enable the company to focus on transitioning its tubing from copper to aluminum, which is lighter and less susceptible to corrosion. This facility, located in TIF District and Local Economic Zone with 20.50% poverty, 70.51% AMI, and Unemployment 1.32x national average, is projected to increase headcount by approximately 100 people (highly minority based and majority Hispanic) over the next four years.  (NNMF NMTCs: $10 million)

  • Date of closing December 2015
    Total Costs $62 million
    Total NMTCS $51.5 million

    Founded in 1915, CMC is a scrap steel recycling and manufacturing company that is one of the largest and oldest recyclers of metals in the U.S. The project will build a Micro-Mill facility in Durant, OK, to efficiently process scrapped metal into metal rebar. The new facility will have an annual production capacity in excess of 380,000 tons and will be the single largest rural economic development project in the state of Oklahoma. The project will create 300 direct jobs in addition to other adjunct jobs (i.e. transportation) in a highly distressed rural community with 19.0% poverty, 79.7% AMI, and unemployment of 13.1%. The CMC Durant facility will utilize the most advanced technology to minimize its environmental footprint via the electric arc furnace process. (NNMF NMTCs: $21 million)


  • Date of closingDecember 2015
    Total Costs$24.8 million
    Total NMTCS$24 million
    PRAIRIE DOG PET PRODUCTS (Abilene, TX) | View Map

    Prairie Dog Pet Producers makes “premium” pet treats using 100% pure meats (farm-raised and grown in the USA). The project will establish a new technologically advanced and vertically integrated state-of-the-art manufacturing facility and purchase equipment and inventory. This initiative will enable the manufacturing of high quality “Made in the USA” product lines at price points that can compete with pet products manufactured or sourced overseas. The project will create 112 local construction jobs to complete the building, which is part of a city-owned industrial park. Overall, the project will create 215 FTE tenant jobs. This will have a great impact on the Abilene community, which is a Texas Enterprise Zone with a 52.87% AMI and a 27.2% poverty rate. (NNMF NMTCs: $24 million)

  • Date of closing February 2015
    Total Costs $67.4 million
    Total NMTCS $23 million
    PIZITZ BUILDING  (Birmingham, AL) | View Map


    Best Historic Challenge Winner 

    2018 Marvin Architect Challenge

    Merit Award Winner

    AIA Birmingham, Design Awards 2018

    2nd place in "Other Construction Less than $1M" 

    ABC Alabama Chapter, 2017 Excellence in Construction

    Best Projects 2017

    ENR Southeast


    The Pizitz represents a $67.4 million historic rehabilitation of a 253, 810 sq. ft., 7-story, designated historic landmark into a mixed-use, mixed-income, LEED Silver project in downtown Birmingham, Alabama. The ground floor will feature the Birmingham Public Market, a year-round, open-air market with ‘stalls’ individually leased to locally owned and operated small food-related businesses within Alabama. The building will also contain event space for community gatherings and teaching demonstrations. The mezzanine will be home to Beta, an innovative shared workspace, combining traditional office necessities with a flexible environment to better accommodate individuals, entrepreneurs and small businesses. Floors 2 – 7 will feature 143 residential units with 20% set aside for affordable housing   targeting 60% AMI. NMTC financing will fund the rehabilitation project. The project will be built with a LEED focus and will include the use of green building materials, energy efficient appliances and water reuse systems as well as being located two city blocks from the Birmingham Intermodal Facility to promote the use of public transportation. The project will create 270 direct FTE jobs, 675 indirect and induced FTE jobs and 1,758 construction jobs in a census tract with 44.6% poverty and 17.5% unemployment.

    (NNMF NMTCs: $23 million)


  • Date of closing August 2012
    Total Costs $26.5 million
    Total NMTCS $26 million
    GATEWAY MARKETPLACE (Detroit, MI) | View Map

    This project will construct a major retail center remediating a 36-acre Brownfield site at the Southeast corner of Woodward Avenue and Eight Mile Road in a severely distressed Detroit neighborhood.  The anchor tenant will be a 214, 000 sq. ft. Meijer Super Center that will provide affordable groceries to local residents in a federally designated food desert with a poverty rate of 48% and median family income of less than 30% of the area's median family income.  This is the first major grocery store built in Detroit in 50 years and is bordered by several consecutive federally designated food deserts.  A bus stop in the middle of the retail center will ensure available public transportation.  (NNMF NMTCs: $14 million)

  • download_20140724_154529
    Date of closingDecember 2014
    Total Costs$38 million
    Total NMTCS$22 million
    MIA Seating (Union City, TN) | View Map

    With the goal of bringing back to the United States most of its manufacturing needs, MIA Seating intends to establish a new Technologically Advanced and Vertically Integrated manufacturing facility in the United States; manufacturing a high quality “Made in the USA” product line of office chairs and furniture at prices that can compete with imported product from China. The NMTC financing provided to the project will provide the final funding component to complete the construction and purchase the equipment for the project. This funding will be crucial in providing the quality manufacturing facility and the state-of-the-art equipment needed to compete globally with international competition. Training and educational programs will be provided at no cost to the company as a site location incentive from the State of TN. The facility will be built with a LEED focus and every product has received GREENGUARD Certification. The project creates 510 new permanent jobs in a rural location with 24.4% poverty and 11% unemployment. (NNMF NMTCs: $17 million)



  • IMG_0437 
    Date of closingOctober 2014
    Total Costs$25 million
    Total NMTCS$23 million
    Detroit Manufacturing Systems (Detroit, MI) | View Map

    DMS manufactures automotive components and contracts with major automotive companies such as Ford Motor Company and General Motors. DMS will be manufacturing instrument clusters for various Ford platforms (vehicles). The existing manufacturing plant must be modified to accommodate the purchase and installation of welding and injection molding equipment. NMTC proceeds will allow them to expand to a number of other platforms. Included in the project is the creation of a greenbelt to accommodate neighborhood gardens, a playground and park. DMS consistently promotes advancement opportunities from within and also provides tuition assistance to employees, funding over $300,000 in assistance annually. The project creates 300 new permanent jobs in an area with 44.7% poverty and 20.5% unemployment.  (NNMF NMTCs: $20 million)

  • Date of closingMarch 2014
    Total Costs$33 million
    Total NMTCS$30 million
    BlueOak Resources, Inc. (Osceola, AR) | View Map

    2015 Non-Metro QLICI of the Year

    Novogradac Journal of Tax Credits Community Development Awards


    BlueOak Resources created a 73,100 sq. ft. electronic scrap recycling facility which recycles a total of 35,000 tons of electronic waste per year. The project won the Harvard Business School New Venture Award in 2011 and  uses proprietary and sustainable technologies to mine high value precious metals such as gold, copper, silver and palladium from electronic waste products such as circuit boards. This process is an energy efficient alternative to mining virgin ore, which has significant negative environmental impacts. In addition, the project diverts a significant amount of the e-scrap currently exported to developing countries which lack the requisite environmental infrastructure necessary for safe processing; informal e-recycling has been a major contributor to the UN’s recognition of Guiyu, China as the second most polluted site in the world. The project creates 75 permanent jobs in rural Osceola, AR which faces 44.3% poverty and 12.7% unemployment. (NNMF NMTCs: $15 million)

  • Sarla
    Date of closing December 2013
    Total Costs $15.2 million
    Total NMTCS $13 million
    SARLAFLEX (Walterboro, SC) | View Map

    Sarla Performance Fibers, based out of Mumbai, India, began the expansion of a new polyester yarn and thread manufacturing facility in rural South Carolina in early 2013. The manufacturing nature of the international project brings traditional textile industry back to South Carolina and is part of the state’s larger redevelopment efforts to attract manufacturing businesses that can effectively operate in rural areas.SarlaFlex will create 150 direct long term jobs in a highly distressed rural area with a 25.4% poverty rate and 17.6% unemployment rate. The project anchors a commercial park in Walterboro, attracting other resident companies and catalyzing critical economic development in the area. (NNMF NMTCs: $13 million)

  • Aker
    Date of closing

    December 2013

    Total Costs $35 million
    Total NMTCS $28 million
    AKER BIOMARINE   (Houston, TX) | View Map

    Aker BioMarine, a Norwegian biotechnology firm, is partnering with the French nutraceutical firm, Naturex Inc., to convert a vacant Dryer’s Grand Ice Cream facility into a biomarine manufacturing plant which will extract omega-3 from krill fish for human consumption. Aker has developed a unique and sustainable krill harvesting method which eliminates by-catch products and minimizes the impact on the ecosystem. The new facility allows the expansion of krill-derived products, such as krill oil, into the North American market. The Dryer’s plant was closed in the spring of 2010, displacing 168 manufacturing and distribution employees within the community. The project creates 50 new permanent jobs in an area of Houston, TX with 19.2% poverty and 14.2% unemployment. (NNMF NMTCs: $12 million)

  • Date of closing September 2013
    Total Costs $24 million
    Total NMTCS $22 million

    2014 Small Business of the Year

    Honorable Mention 
    Novogradac Journal of Tax Credits Community Development Awards


    Michigan Renewable Carbon is creating a facility capable of producing 4, 000 tons per year of activated carbon, and 4,000 tons per year of thermal carbon, a replacement fuel for coal. Both of these products are used to reduce the emissions of industrial power generation.  Located on the former Sawyer Air Force Base in Gwinn, the site has been designated a Michigan Renaissance Zone.  The project will support job creation in Michigan’s Upper Peninsula by utilizing the region’s abundant forestry resources and skilled local employees, who have endured high unemployment (26.1%) and poverty rates (30.4%) since the Air Force Base’s closure in 1995.  In addition to supporting the local forestry industry, the project will demonstrate that high tech companies can successfully operate in Michigan’s remote northern region.  (NNMF NMTCs: $20 million)

  • Date of closing

    September 2013

    Total Costs $37 million
    Total NMTCS $20 million
    NUCLEUS INNOVATION CENTER document.write(" helvetica, sans-serif;">(Louisville, KY) View Map

    2013 Commercial Real Estate “Deal of the Year” and “Project: Office”

    Louisville Business Journal


    The University of Louisville Foundation is constructing an eight-story, 202,510 gross square foot commercial office, information technology and laboratory building known as the Nucleus Innovation Center Building #1, the first of four buildings that will comprise the Nucleus Innovation Park Downtown in Louisville, KY.  Upon completion, the building will be leased to innovative companies, both revenue generating and start-up, in the technology and healthcare industries. Louisville already has the world's largest cluster of long-term care companies, and Nucleus will further enhance the city's status as a national and international hub for the wellness and aging care industry. (NNMF NMTCs: $15 million)

  • Date of closing August 2012
    Total Costs $49.7 million
    Total NMTCS $49.7 million
    DREAM CENTER (Los Angeles, CA) | View Map

    The Dream Center, a volunteer-driven organization, currently serves over 40,000 people each month. Services and programs offered include residential rehabilitation programs for teens and adults, a shelter for victims of human trafficking, a transitional shelter for homeless families, mobile hunger relief and medical programs, and a foster care intervention outreach that works closely with Los Angeles County’s Department of Children and Family Services to keep families intact by delivering the required furnishings, clothing and food to assure that their homes meet DCFS standards. Educational development programs such as adult basic education, job skills training and life skills counseling to homeless families and individuals make it a vital community development resource. (NNMF NMTCs: $16.3 million)

  • Date of closing August 2012
    Total Costs $12.7 million
    Total NMTCS $12.7 million

    2013 Operating Business QLICI of the Year

    Honorable Mention 
    Novogradac Journal of Tax Credits Community Development Awards


    San Antonio Lighthouse for the Blind will construct a new multi-purpose facility to house expansion of the Rehabilitation Services Department and Manufacturing Operation.  This positions the Lighthouse to be self-sustaining, expand rehabilitation services, generate jobs for the blind, increase economic impact on the community and improve the quality of life for the blind in Bexar County.  The Lighthouse currently serves 5,000 individuals annually.  By 2016, this project will enable the Lighthouse to serve an additional 2,000 per year with rehabilitation services, including technology training, job training and placement, independent life skills and more. (NNMF NMTCs: $12.7 million)

  • Date of closing July 2012
    Total Costs $13 million
    Total NMTCS $13 million

    Charter School of the Dunes (CSOD) will construct a new 50, 000 square foot facility to house its expanding student population and better serve and educate low-income students in the Gary, Indiana area.  Its current facility and future school site are located in the Miller neighborhood on the east side of Gary, a former industrial stronghold that has declined economically for decades.   The new school will be constructed using cutting-edge technology and will incorporate a high number of green features.  The school has been designed to achieve LEED-Silver certification and will provide additional environmental education opportunities for students.  (NNMF NMTCs: $13 million)

  • Date of closing June 2012
    Total Costs $27 million
    Total NMTCS $27 million
    SAN ANTONIO FOOD BANK (San Antonio, TX)  | View Map

    2012 Best Metro QLICI of the Year Honorable Mention 
    Novogradac Community Development Foundation


    The San Antonio Food Bank (SAFB) is a non-profit that serves as a clearinghouse, receiving and storing donated food, fresh produce and other groceries.  SAFB distributes these items to over 500 independent partner agencies that help people in need.  Every week, 58,000 people receive food through SAFB's programs.  The region served struggles with an average 20.5% poverty rate, with correspondingly high rates of food insecurity.  The Food Bank also operates programs to help people escape the poverty that results in chronic hunger and encourages better nutrition throughout the region via educational services. The expansion will double the size of the current facility, add additional parking, warehousing, refrigeration and freezer space and relocate SAFB's five-acre urban farm to a superior location adjacent to the enlarged parking lot. (NNMF NMTCs: $14 million)


  • Date of closing October 2011
    Total Costs $46 million
    Total NMTCS $21.25 million
    MOLINA HEALTHCARE DATACENTER (Albuquerque, NM)  | View Map

    The Data Center is an Information Technology (IT) project that will improve provision of healthcare to the poor by lowering operational costs.  Molina is nationally recognized as a leader in providing quality healthcare to low-income families. The data center will provide Molina with additional technological capacity enabling its customers, members, affiliates and internal operations to transact data across secure networks, thereby improving processing efficiency while protecting confidential patient data.  The Project will allow Molina to simultaneously improve the delivery of its services while reducing its costs. The Project will be LEED Gold-certified, utilizing innovative green building techniques that result in significant environmental impacts. (NNMF NMTCs: $3 million)

  • Date of closing July 2011
    Total Costs $21.08 million
    Total NMTCS $21 million
    B&C CASTINGS INC (Barberton, OH)  |  View Map

    The construction of a state-of-the-art cast-house will provide leading edge technology for Ohio, create direct full time new jobs, protect the existing job base by making the firm more cost competitive and efficient, while saving energy, cutting down on emissions, highway congestion and increasing the recycling rate of the waste aluminum. The NMTC financing puts the project into a competitive position lowering fixed and operations costs which will enable the project to compete on a cost basis against an international lower wage since the alternate location for the plant is in Mexico.  (NNMF NMTCs: $21 million)

  • Date of closing May 2011
    Total Costs $18 million
    Total NMTCS $18 million
    (Alexandria, LA) | View Map

    CLSH is a short?term stay hospital recently expanded and opened in May of 2010, providing quality and effective patient services to both the insured and uninsured. Roughly 47% of CLSH payments are derived from Medicare and Medicaid. Approximately 50% come from Blue Cross and other commercial providers. Nearly 1 in 5 of CLSH’s patients are impoverished Medicaid recipients. The new facility faces a number of operational challenges and is located in a rural census tract that is medically underserved with a poverty rate of 50.6%. CLSH is responsible for significant job creation; NMTC financing preserved 157 jobs, including over 100 physicians. (NNMF NMTCs: $18 million)

  • Date of closing May 2010
    Total Costs $15.3 million
    Total NMTCS $15 million
    NEXT GENERATION HEALTH CARE (Rural Ohio)  |  View Map

    Next Generation Health Care will deliver high?speed fiber optic connectivity to health care facilities located in Medically Underserved Areas in Northeast Ohio. The program will enable medical providers to collaborate and share resources, deliver telemedicine and remote diagnostic services, encourage the adoption of electronic medical records and enhance access to health and medical imaging records. HealthNet will help provide telemedicine services to more than 7 million citizens in Northeast Ohio. (NNMF NMTCs: $7 million)

  • Date of closing April 2010
    Total Costs $92.1 million
    Total NMTCS $92.1 million
    ST PAPER LLC (Oconto Falls, WI)  |  View Map

    ST Paper LLC is a locally-owned manufacturer that produces 100% recycled fiber tissue and  linerboard products. Wisconsin, the longtime national leader in paper production, suffered the closure of three major paper mills in 2008. Two additional major mills have announced their closures by the end of 2010, contributing to the trend of mill closures and job losses - roughly a third of the state’s papermaking jobs - since 1997. With 87 employees, ST Paper is currently the largest private employer in Oconto Falls where unemployment is 11.9%. Through the NMTC-facilitated debt refinance, ST Paper has created an opportunity for six low-income individuals to acquire a combined equity ownership interest totaling fifty percent of the company. (NNMF NMTCs: $15 million)

  • Date of closing December 2009
    Total Costs $81 million
    Total NMTCS $38.5 million
    HAVEN FOR HOPE (San Antonio, TX)  |  View Map

    2011 Special Housing Award 
    American Institute of Architects


    Haven for Hope is an independent 501(c)3 non-profit organization dedicated to providing homeless individuals and families with the training, skills and assistance needed to become self?sufficient. Upon completion, the Haven for Hope Campus will include over 70 partner agencies that will provide more than 145 functional services to its members, prospects, and local community. The campus will not only revitalize the neighborhood, but is expected to save taxpayers millions annually through improved service delivery to the local homeless population. New and existing buildings will incorporate design and operational features that will reduce energy consumption. (NNMF NMTCs: $15 million)

  • Date of closing November 2009
    Total Costs $56.8 million
    Total NMTCS $23 million
    CLEVELAND INSTITUTE OF ART (Cleveland, OH)  |  View Map

    Originally an historic Ford Model T factory, the McCullough Center project rehabilitated the 4-story 50, 000 sq. ft. building. The McCullough Center houses the Cleveland Institute of Art (CIA), a four-year undergraduate art college with an annual enrollment of approximately 500 students. CIA is one of the nation’s top 10 professional colleges of art and design. Phase II of the project will include an addition to the building which will consolidate the campus currently located in two buildings: the McCullough Center and the Gund Building. The project is designed to achieve LEED Silver Certification. (NNMF NMTCs: $13 million)

  • Date of closing July 2009
    Total Costs $10 million
    Total NMTCS $10 million
    HABITAT HOMES PROJECT (Jacksons and Gulf Coast, MS) |  View Map
    The Habitat Homes Project provided support to Habitat for Humanity (HFH) affiliates located in Metro Jackson and in the Mississippi Gulf Coast areas of Mississippi. These two HFH entities collaborated to build 85+ affordable single-family homes in Hurricane Katrina-impacted communities across Mississippi. Home designs incorporated water and energy-saving elements along with environmental sustainability features to lower owner operational expenses. The homes were built with volunteer labor and sold at affordable rates to low-income families earning 30-80% of the AMI. Home sales were financed with below-market rate mortgages. (NNMF NMTCs: $10 million)
  • Date of closing February 2009
    Total Costs $145.3 million
    Total NMTCS $69 million
    ARGONAUT BUILDING (Detroit, MI) |  View Map

    2009 “Best Real Estate QLICI of the Year” Award 
    Novogradac Community Development Foundation


    Located in downtown Detroit, MI, The Argonaut project converted a historic GM building into a 760,000 sq. ft. mixed-use educational facility. The College of Creative Studies’ expansion campus features educational facilities for undergraduate and graduate programs, residential facilities for up to 300 students and an arts and design middle and high school serving approximately 900 students annually. The project achieves LEED Certification for Existing Buildings, incorporates sustainability features, and may incorporate alternative energy generation once construction is complete. Six NMTC allocatees were involved in the transaction to overcome long-standing development hurdles. (NNMF NMTCs: $7.5 million)

  • Date of closing December 2008
    Total Costs $32.2 million
    Total NMTCS $24 million
    SECOND LINE STAGES (New Orleans, LA) |  View Map

    2009 “Practitioner’s Showcase” Award
    Council of Development Finance Agencies (CDFA)


    Second Line Stages is the first green, full service media production facility in the nation. This 90, 000 sq. ft. facility combines new construction with the restoration of a dilapidated warehouse. The facility design achieved LEED Silver Certification. The project provides apprenticeship and skilled employment opportunities for local residents and educational programs for at-risk youth. The completed facility now serves the burgeoning Louisiana film industry and has provided jobs and revenue to aid in the city’s economic recovery. (NNMF NMTCs: $6 million)

  • Date of closing December 2008
    Total Costs $9.6 million
    Total NMTCS $9 million
    PLAZA ADELANTE (San Francisco, CA) |  View Map

    2009 “Best Metro QLICI of the Year” Award 
    Novogradac Community Development Foundation


    This multi-tenant nonprofit complex, formerly a warehouse, located in San Francisco’s Mission District is a one-stop center of financial, legal, health, childcare and supportive services for low-income residents. By sharing common space and operating resources,  nonprofit tenants lower costs and eventually may become owners in the facility. (Good Samaritan Family Resource Center, Mission San Francisco Federal Credit Union, Central American Resource Center, Dolores Street Community Services, Mission Asset Fund, Mission Neighborhood Centers, Saint Peters Housing Committee, Caminos Pathways Learning Center, and Immigrant Legal Education Network) (NNMF NMTCs: $9 million)

  • Date of closing August 2008
    Total Costs $64.4 million
    Total NMTCS $30 million
    HAMMOND SQUARE MALL (Hammond, LA) |  View Map

    Located within a rural underserved GO Zone community, the Hammond Square Mall project in Tangipahoa Parish doubled the size of a previously enclosed mall, transforming it into an 870,000 sq. ft. open-air shopping center with five anchor stores. In the aftermath of Hurricane Katrina, the area’s population nearly doubled with the influx of more than 15,000 displaced New Orleans residents. The Mall, which opened in September 2009 provides much needed retail services and employment opportunities and is projected to generate 70% of the City’s tax revenues. The mall design incorporated significant sustainability features, including recycled materials from demolished sections of the former structure. The project is considered one of the county’s largest retail developments and biggest economic drivers relative to revenue and job creation. (NNMF NMTCs: $10 million)

  • Date of closing August 2008
    Total Costs $64.4 million
    Total NMTCS $30 million
    MERCY CORPS HEADQUARTERS (Portland, OR) |  View Map

    2008 “Best Metro QLICI of the Year” Award
    Novogradac Community Development Foundation


    The Mercy Corps project combines new construction with the rehabilitation of the historic 4-story Skidmore Fountain Building resulting in a contemporary utilitarian mixed-use facility. More than 80, 000 sq. ft. were developed to house Mercy Corps’ Global Headquarters and interactive public Action Center, Mercy Corps Northwest’s Small Business Development Center, community conference facilities and the Lemelson Foundation headquarters. The facility, which opened in October 2009, earned LEED Platinum Certification for its significant environmental impacts. (NNMF NMTCs: $7.5 million)

  • Date of closing February 2008
    Total Costs $87.8 million
    Total NMTCS $74.1 million
    (Jackson, MS) |  View Map

    2010 Developments of Distinction in Historic Rehabilitation Award
    Novogradac Journal of Tax Credits


    The King Edward Hotel is the redevelopment of a historic hotel that has been vacant for more than 40 years. The building has evolved into a 265, 000 sq. ft. mixed-use urban center that features a 186-room hotel with a restaurant and high-tech business center, a 64-unit apartment complex, and premium retail space. The building’s historic integrity and heritage was preserved and the project generates significant economic activity in an area with a 53.5% poverty rate. The hotel, which opened in 2009, incorporates sustainability within its design, construction, and operations. Design features include: energy efficient HVAC systems and an important waste diversion program as well as green housekeeping and maintenance practices. (NNMF NMTCs: $15 million)

  • Date of closing December 2007
    Total Costs $56.4 million
    Total NMTCS $40 million
    WORLD WAR II MUSEUM (New Orleans, LA) |  View Map

    The World War II museum has hosted more than 1.7 million visitors since 2000. Approximately 50% of visitors indicated that the museum was one of their top two reasons for visiting New Orleans. The multi-phase redevelopment and expansion of the World War II Museum is now a six-acre campus of exhibition pavilions that includes a 250-seat theater, a United Service Organizations-themed restaurant and performance space as well as major street improvements that will, in effect, quadruple the square footage of the outdated facility. NNMF funded this project because of the multi-level economic impacts to this blighted area. (NNMF NMTCs: $6.25 million)

  • Date of closing August 2007
    Total Costs $25 million
    Total NMTCS $25 million
    Prior to Hurricane Katrina, Ochsner Baptist Medical Center (formerly Memorial Medical) treated more uninsured patients than any other private hospital in the region. NNMF’s NMTC financing (two other allocatees invested) was structured as operational capacity to expand and re-open more than one million square feet of medical services space including: 100-bed surgical hospital, a senior living facility for 250 residents, outpatient imaging center, a radiation center and medical offices. The project is bringing much-needed health services and jobs back to New Orleans. (NNMF NMTCs: $3.75 million)