Enhanced Community Development, a subsidiary of Enhanced Capital, announced that it has been awarded $15 million in Louisiana New Markets Tax Credits (NMTC) allocation.

Throughout the first and second quarter of 2020, Enhanced Capital provided $72.9 million in funding through tax credit programs.

With support from Enhanced Capital, City Winery – a hospitality company specializing in mixed-use winery and entertainment venues – has completed the rehabilitation of the historic Montgomery Worsted Mill in Montgomery, New York. Enhanced provided critical project financing through the federal and New York Historic Rehabilitation Tax Credit programs in May 2020.

Enhanced Capital’s financial support has enabled Base Camp Coding Academy (BCCA) to continue its mission of addressing Mississippi’s need for more jobs and affordable education. BCCA is transforming a vacant historic building into a first-of-its-kind computer coding and distance learning facility called Everest through a $6.9 million redevelopment project. Enhanced Capital supported BCCA’s Everest project with $2.0 million in tax equity and debt funding through federal and state Historic Rehabilitation Tax Credits.

Enhanced Community Development, a subsidiary of Enhanced Capital, announced that it has been awarded $35 million in New Markets Tax Credits (NMTC) allocation. This award marks the eighth time Enhanced Community Development has been awarded federal New Markets Tax Credits.

Enhanced Capital is proud to collaborate with Alembic Community Development and Leona Tate Foundation for Change (LTFC) to support the redevelopment of the McDonogh 19 Elementary School into the Tate, Etienne & Prevost Center (TEP Center) in New Orleans’ Lower Ninth Ward. Enhanced Capital contributed $7.2 million in project financing through Louisiana and federal Historic Rehabilitation Tax Credits and a federal New Markets Tax Credit Allocation.

Through the Kentucky New Markets Tax Credit (NMTC) program, Enhanced Capital is providing critical financing to a transformative, job-creating project in rural Millersburg, Kentucky. In May 2020, Enhanced Capital closed financing on the Mustard Seed project.

Enhanced Capital partnered with Hunt Properties GP, a local, minority-owned developer, to develop a 74-room Hampton Inn hotel and a 20,000 SF retail center in the town of McMinnville, TN. To help support the rural community, Enhanced Capital provided financing for the project through a $5 million federal New Markets Tax Credit (NMTC) allocation.

The original Coca-Cola Bottling Plant, located at 850 Massachusetts Avenue in downtown Indianapolis, is on its way to becoming the largest private development of its kind in Indiana. As part of its community enrichment efforts, Enhanced Capital invested $29 million in the first phase of this rehabilitation project, set to be complete by summer 2020.

The Candler Hotel, a part of the Curio Collection by Hilton, is now open for business in downtown Atlanta, GA after undergoing a two-year-long rehabilitation financed in part by a state Historic Rehabilitation Tax Credit investment from Enhanced Capital.

Enhanced Capital has announced the launch of its national Commercial Property Assessed Clean Energy (C-PACE) financing platform.  Enhanced will finance eligible energy efficiency measures in qualifying programs throughout the U.S.  By offering C-PACE financing, Enhanced continues its mission of supporting and strengthening local communities.

Through its Utah Small Business Loan Fund and the federal New Markets Tax Credit program, Enhanced Community Development provided financing to Waterford.org, a nonprofit and education technology company that is now making national headlines after expanding its early education program to reach children in 15 states.

Early Education programs have become increasingly unaffordable and inaccessible for low-income families across the United States. Utah-based Waterford.org is bridging the gap through its kindergarten readiness program Waterford UPSTART.

Enhanced Community Development, a subsidiary of Enhanced Capital, has been awarded a $50 million allocation in the competitive federal New Markets Tax Credit (NMTC) program. Administered by the Community Development Financial Institutions Fund of the U.S. Department of the Treasury, the New Markets Tax Credits allocations for the 2018 allocation round were announced May 23.

Enhanced Community Development will utilize this allocation to continue catalyzing economic growth in both urban and rural, low-income and distressed communities nationwide. Enhanced has received multiple NMTC awards and has invested in projects that have brought critical goods, services and jobs to underserved communities.

A multimillion-dollar, mixed-use development in West Harlem, New York, is among the latest development activity transforming the neighborhood. Enhanced Capital provided an 18.2 million bridge loan supported by state brownfield tax credits to finance the construction of the new 13-story, 211,893 square-foot building. The space will include 155 condominiums, a grocery store, a rooftop lounge, fitness facilities, a lap pool, and more.

Three redevelopment projects financed by Enhanced Capital are making waves in the architecture world as some of the country’s “most brilliant factory revivifications.”

Featured in the recent Architectural Digest article “Architects Find New Inspiration in Abandoned American Factories,” historic rehabilitation efforts are reinventing decaying urban and industrial landscapes as they bring luxury hotels, retail spaces and galleries into operation. Enhanced Capital is proud to have invested in three of the eight projects that made the list.