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GAF Borrower TO CELEBRATE GRAND “NEW” OPENING

After 40 plus years of operating a collision repair and towing business from 120 Union Avenue in Williamsburg, Brooklyn, NDC GAF borrower Knights Collision has expanded and found a new home within the Borough at 200 Eastern Parkway at Broadway.

Knights Collision is a locally owned and operated family business that provides towing and storage services for vehicles that are disabled, involved in accidents, seized in parking enforcement and involved in theft recovery. The auto-body repair and maintenance shop provides complete auto repair services. In 2007 NDC Grow America Fund provided Knights Collision a SBA guaranteed working capital loan to facilitate the growth of the company.

The event will take place tomorrow December 19th @2pm. More Details HERE

McFarland A. Bragg II, President of the Peoria Citizens Committee for Economic Development and an NDC EDFP and HDFP, Shares How His NDC Training Experience Produced, “A tremendous return on investment”

“The Economic Development Finance Professional Certification that I received in December 1994, the Housing Development Finance Professional Certification received in May 1999 as well as my attendance and participation in the biennial NDC Academies have proven to be invaluable to my professional development and PCCEO’s economic development.

The rigorous training required to complete the certifications is invaluable. Our development team of seven (all trained and certified by NDC), is responsible for the construction of 168 single family residences, using a combination of Low Income Housing Tax Credits and other affordable financing techniques, in several of Peoria’s most impoverished neighborhoods. The first project of 80 homes was funded at $6,812,600; the second project of 60 homes was funded at $5,966,654. We are currently initiating Year 16 activities for the OKPARA I project wherein we will begin to sell the homes to the residents that are prepared to purchase.

Through the relationships developed with Academy attendees, PCCEO’s development team was able to “pick the brains” of experts which enabled us to craft and execute a development agreement (The Spring Grove Subdivision) with the City of Peoria to complete a market rate project in an area that had been the victim of a stalled Urban Renewal Initiative which was dormant for a considerable period of time! The Spring Grove Development produced 28 “affordable” market rate homes which sold for an aggregate total of $3,883,185!!

I look at the National Development Council’s certification process and attendance at the NDC Academy as a knowledge and skill development investment which when used correctly, can produce has a tremendous return on investment for economically challenged areas of many communities!”

McFarland A. Bragg II, CCAP
President/CEO
PCCEO

NDC Certified Over 300 Development Finance Professionals in 2014

Congratulations to the following participants who became Economic Development Finance Professionals (EDFPs),  Housing Development Finance Professionals (HDFPs) or Rental Housing Development Finance Professionals (RHDFPs) in 2014!

Read more…

NDC Mentioned in US Treasury 2014 Agency Report

NDC’s project, Continental Tire in Sumter, SC is highlighted in the US Department of Treasury 2014 Agency Report! See Report HERE, and Continental Mention on page 16.

New Markets Tax Credit investments of over $58 million helped bridge a financing gap for the $542 million Continental Tire project, allowing plans for the production plant to move forward and begin on time. The one-million-square-foot production facility is located in a severely distressed, low-income community with an unemployment rate exceeding 1.5 times the national average.  National Development Council partnered with Chase New Markets Corporation, Community Reinvestment Fund, USA, People Inc. and UrbanAmerica Advisors to leverage the NMTC equity.

Senate Poised to Take Up Tax Extenders Legislation

The Senate may take up H.R 5771, the Tax Increase Prevention Act of 2014, as early as this evening. Please take a moment to reach out to your Senators and urge them to support passage of H.R. 5771, which includes retroactive extensions of expiring tax provisions, including the NMTC.

The most effective message you can deliver your Senators is to tell them compelling stories of how the NMTC created jobs, improved services, or revitalized communities in their state. If you need examples or project profiles, please see our NMTC project map. If you need state-specific statistics, please see our state post cards.

We also crafted broad talking points that you should feel free to use in your calls and emails to Senate offices:

 

Music Legend Diana Ross to Perform Inaugural Concert at Brooklyn’s Revitalized Kings Theatre

Today our project partners, ACE Theatrical, announced that the inaugural year of programming at the Kings Theatre will kick off with an opening concert by internationally acclaimed artist Diana Ross, as the newly revitalized entertainment palace opens to the public for the first time in nearly 40 years. The inaugural performance by Ms. Ross on February 3, 2015 at 8:00 p.m. follows an extensive $93.9 million restoration and renovation of the architectural gem.  The largest theatre in Brooklyn with more than 3,000 seats, the Kings Theatre will serve as a cultural and economic cornerstone of the community and an extension of the borough’s cultural renaissance. Tickets for An Evening with Diana Ross will go on sale Friday, December 12 at 12:00 p.m. at KingsTheatre.com, Ticketmaster.com, 800-745-3000, and all Ticketmaster outlets.

See official Press Release HERE! Press Announcement Inaugural Preformance Kings Theatre

 

About the Kings Theatre

The historic Kings Theatre will reopen its doors in 2015 as one of New York’s premier performing arts venues.  Providing a destination for large-scale popular entertainment and serving as a resource for local arts groups and community organizations, the City-owned Theatre will be a cultural and economic cornerstone of the Flatbush community and add a major fixture to Brooklyn’s vibrant cultural landscape. The Kings Theatre was originally designed by Rapp & Rapp in 1929 and was one of the five Loew’s ‘Wonder Theatres’ built in New York and New Jersey during that period. Featuring high curved ceilings, ornate plaster walls, wood paneling, pink marble, and a glazed terra-cotta ornamental façade, the classic 20th-century movie palace was inspired by the French Renaissance Revival style of the Palace of Versailles and the Paris Opera House. Spearheaded by ACE Theatrical Group and designed by Martinez+Johnson Architecture, with Gilbane Building Company serving as construction manager, the redevelopment project will both revive the historic structure’s original splendor and transform the Theatre into a state-of-the-art facility with over 3,000 seats—the largest of its kind in Brooklyn. The Theatre was recently selected as a recipient of the 2014 New York State Historic Preservation Award for excellence in preservation and revitalization.

The renovation and restoration of the Kings Theatre is a partnership between the New York City Economic Development Corporation and the Kings Theatre Redevelopment Company—a consortium of ACE Theatrical Group, Goldman Sachs Urban Investment Group, and the National Development Council. Public sector funding is provided by the City of New York, through the Office of the Mayor, the Office of the Brooklyn Borough President, the New York City Council and District 40 Council Member Dr. Mathieu Eugene, and by the State of New York. Additionally, the Kings Theatre is a Federal and New York State Rehabilitation Tax Credit project and a Federal New Markets Tax Credit project in partnership with Goldman Sachs Urban Investment Group, United Fund Advisors, and the National Development Council.  www.KingsTheatre.com.

 

Facebook: facebook.com/KingsTheatreBklyn

Twitter: @KingsBklyn

 

Kings Theatre Honored at 2014 New York State Historic Preservation Awards

Right, Andy Beers- Executive Deputy Commissioner, Seth Bongartz- NDC Board, Neil Heyman-Gilbane Construstion, David Terevisani-NDC, Adam Field- Martinez+Johnson Architecture, Peter Trozze-Martinex+Johnson Architecture, Toland Grinnell-Evergreen Architectural, Christina Derose-NYCEDC, Ruth Pierpont Director of NYSHPO

Established in 1980, the state preservation awards are given by State Parks each year to honor excellence in the protection and rejuvenation of New York’s historic and cultural resources.

NDC was an honored recipient of the NY State Preservation Award for their work on the Kings Theatre in Flatbush, Brooklyn. The theatre was recognized for the outstanding rehabilitation and restoration of the lavish early 20th century entertainment palace.  The awards were presented at a ceremony held at the award-winning Academy Lofts in Albany, an abandoned school that has been transformed into a vibrant living and work space for artists as well as a community arts center and business incubator for creative enterprises.

Seth Bongartz, Board Member, accepted the award on behalf of NDC. Seth stated “For us, being involved in the revitalization of the Loew’s Kings Theatre means returning home. The National Development Council was formed in 1969 to work in economically underserved communities throughout the United States. However, the inspiration for the founding of NDC was the late Senator Robert Kennedy’s work in inner city Brooklyn, which started in 1967 with the creation of the Bedford Stuyvesant Restoration Corporation.”

NDC would like to thank Goldman Sachs our investor, the City of New York our partner and primary grant provider, the Dormitory Authority of the State of New York for its generous grant, the Office of the Brooklyn Borough President who championed the project and provided a grant to complete some important improvements, ACE Theatrical for including us in their magnificent project, the State Historic Preservation Office for their support though the entire process and the hard working men and women who applied their skills to recreate this wonderful theatre.

Below are some photos of the event.

 

Seth Bongartz Accepts Award for NDC

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Academy Lofts, Albany NY

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Academy Lofts, Albany, NY

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THE NOVOGRADAC JOURNAL OF TAX CREDITS HONORS SPECIAL ACHIEVEMENT IN AFFORDABLE HOUSING DEVELOPMENT

NDC Corporate Equity Fund and Brownstone Affordable Housing Ltd. will receive honorable mention for the 2014 Developments of Distinction Awards, which will be presented at the Novogradac Tax Credit Developers Conference, Jan. 8-9, 2015 at the Mandarin Oriental Miami in Miami, Fla. The Developments of Distinction Awards were awarded to development teams for exceptional achievement in the development of properties using the low-income housing tax credit (LIHTC), and/or tax credit developments using U.S. Department of Housing and Urban Development (HUD) financing.

See official Press Release Here! Novogradac Award Winners 2014

NEW ASSISTED LIVING FACILITY TO OFFICIALLY BREAK GROUND IN NORTHAMPTON, MA

NDC Corporate Equity Fund will join local officials, project partners, developers and investors at the Official Groundbreaking for Christopher Heights of Northampton tomorrow, November 21st at the project site.

Christopher Heights Groundbreaking

The Christopher Heights of Northampton project is the new construction of an 50,000 square foot assisted living facility located in the Village Hill neighborhood of Northampton, MA. The 1.3 acre site formally housed a state hospital and is being redeveloped under the direction of Massachusetts Development Finance Authority (MassDev). The $13.4 million project will consist of 83- assisted living units, 17 of the units will be designated for individuals with incomes below 30% of AMI and 26 for residents with incomes below 60% of AMI. In partnership with the Grantham Group of Boston, NDC Corporate Equity Fund contributed LIHTC capital from NDC Corporate Equity Fund XI.

 

NDC teams up with the Broad Tax Extenders Coalition in Support of Extending Expired and Expiring Tax Provisions

Today, NDC along with over 500 organizations, representing millions of individuals, businesses of all sizes, community development organizations and non-profit organizations, urged Congress to act in the Lame Duck session to extend seamlessly the expired and expiring tax provisions this year to provide a necessary bridge to comprehensive tax reform. These tax provisions are critically important to U.S. jobs and the broader economy. Enacting a seamless extension of the expired tax provisions will provide important predictability necessary for economic growth.

See Tax Extender Sign On Letters Below:

Tax Extenders Sign On Letter November 18 2014_House

Tax Extenders Sign On Letter November 18 2014_Senate

New Affordable Housing Townhome Complex in Baxter, MN Announces Full Occupancy

Congratulations to our partners Central Minnesota Housing Partnership (CMHP) on the completion of Sprucewood Townhomes in Baxter, MN. All 34 townhome units available for residents earning 60% or less of AMI are filled, including the 4 units designated for Long Term Homeless families. Sprucewood is CMHP’s first project to incorporate solar energy to assist with electrical expenses. To date, the project has produced enough energy to light the Eiffel Tower for 60 hours.

NDC Corporate Equity Fund (CEF) contributed LIHTC Equity from NDC CEF Fund X, to assist in the project completion.

 

Sprucewood Townhomes Baxter, MN

Sprucewood Townhomes Baxter, MN

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Sprucewood Townhomes Baxter, MN

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Solar array on Sprucewood Townhomes Baxter, MN

CMHP will host an Open House Wednesday November 19th from 10am to noon at project location, 14304 Grand Oaks Dr. Baxter, MN. More about Sprucewood Townhomes HERE!

Black History Museum to Celebrate Official Groundbreaking at New Project Location

 

Richmond, VA- (November 6, 2014) The City of Richmond has officially announced the groundbreaking for the Black History Museum and Cultural Center of Virginia.   The museum occupies the historic Leigh Street Armory building that was redeveloped to house the museum and cultural center.  The ceremony will take place at the project location at 10am today.

Built in 1895, The Leigh Street Armory building holds significant historic importance to the City of Richmond’s African American Community. Originally built as an armory for African American militia, later the building was repurposed as a school for African American children. During World War II it served as a social hall and a reception center for black soldiers, before falling into a disrepair.

After renovations the Leigh Street Armory building will house the Black History Museum and Cultural Center of Virginia. The museum will have more than 12,000 square feet of exhibit space, to tell a story of African American Culture from 1619 to present day. In addition to permanent and temporary exhibit space the museum has a grand exhibit hall, which will double as a community space. The design incorporates a café that will invoke the ambiance of the old Woolworth’s lunch counter and other symbols of the Civil Rights Movement.

Working with the City of Richmond, The National Development Council provided technical assistance to the City’s Economic and Community Development Department, providing direction and assistance in budget development and devising an ownership structure for the museum. Redevelopment financing includes funding from federal and state historic rehabilitation tax credits, state grant funds, and a Section 108 loan from the City.

“Through our Technical Assistance contract with the City, National Development Council was able to secure a HUD Section 108 Loan and ensure the availability of funds crucial to completing the project” said Regina Celestin “We are proud to support the efforts of the City of Richmond in the redevelopment of Leigh Street Armory building, creating a permanent home for the Black History Museum”

About National Development Council 

Founded in 1969, the National Development Council (NDC) is a national non-profit organization that has evolved into one of the most progressive and innovative community and economic development organizations in the country.  From a seminal role in the earliest days of the community development movement, NDC has grown into one of the most comprehensive providers of financing, development expertise, technical assistance and training for community revitalization efforts throughout the U.S.  www.nationaldevelopmentcouncil.org

Tri-State Biodiesel Official Groundbreaking Generates Media Buzz in Bridgeport!

Check out our photos from the event!

Read more…

Mayor Williams Joined Discover Bank and National Development Council Announce the Grow Wilmington Fund

Mayor Dennis P. Williams joined James J. Roszkowski, President of Discover Bank; Bill Young of National Development Council; and the Mayor’s Office of Economic Development to announce the Grow Wilmington Fund, an innovative, loan fund for established small businesses. The fund has been created through the cooperation of Wilmington UDAG Corporation, Discover Bank and the National Development Council.

The Office of Economic Development looks to use the Grow Wilmington Fund to promote job growth and economic development in the City of Wilmington through the expansion of existing businesses and recruitment of new businesses. Grow Wilmington offers attractive interest rates, extended terms to benefit eligible Wilmington businesses.

“I would like to thank Discover Bank, the National Development Council and other community stakeholders for their commitment to supporting the economic vitality of the City of Wilmington,” said Mayor Williams. “The Grow Wilmington Fund will allow the City to support the expansion of existing businesses and attract new businesses to provide increased job opportunities to local residents.”

Discover Bank’s participation in this program represents its commitment to the continued economic development, growth and vitality in Delaware.

“Discover is proud to be part of this program that supports small size businesses and the City of Wilmington,” said James J. Roszkowski, president of Discover Bank. “We look forward to continuing to build upon our longstanding commitment to supporting local businesses and communities since we first established Discover Bank in Delaware.”

NDC will work with the City of Wilmington through its affiliate Community Development Financial Institution, the Grow America Fund (GAF), a SBA licensed Small Business Lending Company, to deliver professional underwriting, servicing, and portfolio management services; along with technical assistance to local established businesses.

“Participating in the Grow Wilmington Fund, a truly unique public/private business lending partnership, allows NDC to assist Wilmington small businesses and support Mayor Williams’ community revitalization efforts,” said Bill Young, board member of The National Development Council.

“NDC would like to thank both of our partners for their investment, and Discover Bank for their generous grant funding which makes this effort to promote investment and create jobs in the City of Wilmington possible,” said Daniel Marsh EVP of the National Development Council.

The Grow Wilmington Fund is available to qualified, existing businesses in operation for at least three years, with less than 500 employees, and revenues generally between $500,000 and $20 million.

Grow Wilmington Fund loans will range from $150,000 to $4,000,000. However, the amount a business can borrow is subject to underwriting guidelines and loan fund availability. Once obtained, loan funds may be used for:

  • Working Capital – to be repaid over 10 years
  • Machinery and Equipment – to be repaid over 10 years
  • Real estate acquisition and/or renovation of owner-occupied businesses – to be repaid over 25 years
  • Tenant improvements – to be repaid over the life of the lease

As a mission-driven loan fund, Grow Wilmington is focused on the creation of new jobs in the City. Serving as a mechanism to invite new businesses into the City of Wilmington, the Grow Wilmington loan fund can help generate commerce and foster a supportive environment for businesses to succeed.

 

More Media coverage below,

http://www.wdel.com/story.php?id=63637

http://www.delawareonline.com/story/opinion/editorials/2014/10/28/wilmingtons-smart-move-future-growth/18083499/

MAYOR TO HOLD GROUNDBREAKING CEREMONY AT BRIDGEPORT ECO-INDUSTRIAL PARK

Bridgeport, CT- Mayor Bill Finch will host a groundbreaking celebration today to mark the construction of a new manufacturing and distribution facility for Tri-State Biodiesel in Bridgeport, CT. The event will take place at The Bridgeport Eco-Industrial Park (Andover Street) on Friday October 24, 2014 at 10:30am.

 

The Tri-State Biodiesel project is part of a significant green investment into the Bridgeport Eco-Industrial Park that supports the creation of new “green collar” jobs. Tri-State Biodiesel expects to create an additional 25 jobs, targeted to residents of the low-income community, within the first two years of operation.

 

“We’re thrilled that Tri-State Biodiesel is expanding in Bridgeport, Conn.,” said Bridgeport Mayor Bill Finch. “In Bridgeport, we believe that cities need to take leadership in going green for the sake of future generations. And, we’re winning the future by developing Eco-Technology Park – an incubator for business growth and home to hundreds of green jobs – with the support of successful companies like Tri-State Biodiesel. It’s one of the many reasons why Bridgeport is getting better every day.”

 

Capital provided by NDC’s Grow America Fund will support the construction of a new state-of-the-art bio refinery, where Tri-State Biodiesel will manufacture and distribute biodiesel fuel. NDC’s Grow America Fund also partnered with the The JPMorgan Chase Foundation’s Collaboratives Program, which is designed to help small business lenders build capacity and to jumpstart job creation in low- and moderate-income communities.

 

“Tri-State Biodiesel is exactly the type of company which the Grow America Fund, NDC’s wholly-owned small business lending affiliate, seeks to support with long-term, low cost financing,” observes Kevin Gremse, an NDC field director who has worked in the Bridgeport market for over a decade. Gremse further states  “not only does this business perfectly complement Mayor Finch’s program to diversify the economy with an Eco-Industrial Park, Tri-State Biodiesel is a business that has one the highest job growth prospects in Bridgeport in several years.”

 

About National Development Council 

Founded in 1969, the National Development Council (NDC) is a national non-profit organization that has evolved into one of the most progressive and innovative community and economic development organizations in the country.  From a seminal role in the earliest days of the community development movement, NDC has grown into one of the most comprehensive providers of financing, development expertise, technical assistance and training for community revitalization efforts throughout the U.S.  www.nationaldevelopmentcouncil.org

 

About NDC’s Grow America Fund

NDC’s Grow America Fund (GAF) is a New York City Based Community Development Finance Institution (CDFI) licensed under US SBA preferred lenders program (PLP). GAF focuses on providing flexible and patient expansion loans to existing small businesses, manufacturers and distributors. www.ndcgaf.org

 

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SBA Loan to Empanada Manufacturer Brings Jobs to North Bergen

Nuchas, LLC uses SBA 504 Loan to purchase a new manufacturing facility in North Bergen, New Jersey

North Bergen, New Jersey - Nuchas, LLC Is the recipient of the first small business loan from a newly created SBA 504 Loan Fund established by NDC’s Grow America Fund in partnership with Edison Development Corporation.  Nuchas, LLC has been awarded a loan to help them purchase a new 8,000 square foot manufacturing facility in North Bergen, NJ.  NDC’s Grow America Fund also partnered with the The JPMorgan Chase Foundation’s Collaboratives Program, which is designed to help small business lenders build capacity and to jumpstart job creation in low- and moderate-income communities.

 
“The new manufacturing facility will bring an additional 20 jobs in the next 2 years to North Bergen” Said John Palyo, President of NDC Grow America Fund. “This is exactly the kind of business and impact we get excited about.  The SBA 504 Loan will give Nuchas the capital it needs to expand into the new wholesale business venture and in turn bring economic opportunity to North Bergen.”

 
Nuchas is a New York City based empanada vender.  The company was founded by Argentinian born Ariel Barbouth. During a trip home to Argentina he recognized the potential for an artisan inspired empanada niche market within the United States. Nuchas was founded in 2009, since then, the Nuchas brand has grown significantly. Today Barbouth serves customers in locations across New York City, Long Island and New Jersey.  The Nuchas Food Truck was winner of the people’s choice award for the 2014 Vendy Awards.

 
“We are honored to receive the loan from NDC’s Grow America Fund and Edison Development Corporation.” Said Ariel Barnouth “2014 has been a very terrific year for Nuchas, we look forward to our exciting future, expansion and creating job opportunities.”

 
GAF was introduced to Nuchas by Alek Marfisi of the Midtown Manhattan Small Business Development Center, one of GAF’s community partners. Capital for this loan was provided by PNC Bank through Edison County Development Corporation, New York Business Development Corporation and the JP Morgan Chase SME Collaborative Grant.

 
About National Development Council  
Founded in 1969, the National Development Council (NDC) is a national non-profit organization that has evolved into one of the most progressive and innovative community and economic development organizations in the country.  From a seminal role in the earliest days of the community development movement, NDC has grown into one of the most comprehensive providers of financing, development expertise, technical assistance and training for community revitalization efforts throughout the U.S.  www.nationaldevelopmentcouncil.org

About NDC’s Grow America Fund
NDC’s Grow America Fund (GAF) is a New York City Based Community Development Finance Institution (CDFI) licensed under US SBA preferred lenders program (PLP). GAF focuses on providing flexible and patient expansion loans to existing small businesses, manufacturers and distributors. www.ndcgaf.org

Makah Tribe Celebrates Grand Opening of New Dock Financed with New Markets Tax Credit Equity

Neah Bay, WA- The Makah Dock celebrated an official Grand Opening on Friday October 10th, 2014. The NDC New Markets Tax Credit Project and reciepient of Novogradac Journal of Tax Credits’s Community Development Award, supplies new capacity to the Neah Bay community, helping the Makah Tribe expand its fishing industry, create new jobs, and increase economic competitiveness of both tribal and non-tribal Pacific Northwest fisheries resources.

NDC’s Matt Calcavecchia and Michelle Morlan were able to attend the event held at the dock, below are some photos from the event.

 

Makah Dock 7 Dance NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

Makah Dock Celebration
NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

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NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

NMTC Project for the Makah Fishing Dock in Neah Bay, Washington

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About the Makah Dock

The Tribe partnered with The National Development Council and Wells Fargo to raise the equity necessary for this vital project. The National Development Council’s $7.8m qualified equity investment in the $13.7M project was combined with financing from Wells Fargo.

The Makah Docks Community Impacts Include:

  • Provision of critical facilities for over 90 different small businesses, mostly minority business enterprises that depend on the dock to offload their catch and sell to buyers.
  • Preservation of more than 400 FTEs currently employed by fishing operations who use the dock.
  • Approximately $7 million per year in direct and indirect economic benefits are generated from the value of the fish caught and off-loaded at the facility. This generates more than $600k per year in annual revenue for the Tribe.
  • Restoration of a critical emergency response launch site for vessel rescue and spill response operations in the area.
  • Creation of a safer working conditions for those working on the docks.

More Info HERE, from Wells Fargo Community Impact Video

UW Medicine South Lake Union Campus Celebrated

Seattle, Washington— Members of the development team for UW Medicine’s South Lake Union biomedical research campus, comprised of UW Medicine, Vulcan Real Estate Inc., Sellen Construction, Perkins+Will and National Development Council gathered together to receive awards from the National Council for Public-Private Partnership honoring UW Medicine’s south lake union biomedical research facility.  The project won the Innovation Project Award.  An award celebrating the best public-private partnership projects in the country.  The campus currently occupies two city blocks in South Lake Union and contains four buildings featuring state-of-the-art” biomedical research laboratories.

“The NCPPP Awards program recognizes those organizations and individuals going above and beyond to advance the concept and implementation of public-private partnerships across the country,” said NCPPP President Art Smith. “We are proud to recognize innovators and leaders whose work serves as exemplary partnership models.”

“UW Medicine’s interdisciplinary research facilities at South Lake Union are key to our ability to continue to be an international leader in biomedical research well into the 21st Century,” said Dr. Paul Ramsey, CEO of UW Medicine.  “Our most recently completed building supports research collaboration across organizational and disciplinary lines and is designed to accelerate the translation of basic science discoveries to improve human health.”

“UW Medicine South Lake Union is the model of what true P3 and a great team can accomplish.” Said Anthony Gianopoulos, Associate Principal at the architecture firm Perkins+Will, “It’s a stunning display of architecture, functionality and fiscal responsiveness.”

“We have been successful at UW Medicine South Lake union not only because our team is remarkably skilled and qualified but also because the collaborative nature of our approach allows us to sit down at the table together and combine our expertise, allowing us to work off each other.” Said John Finke, Team Leader of NDC’s HEDC Public-Private Partnerships.  “This is Public-Private Partnership at its best, producing optimal results for all involved.”

More about UW Medicine South Lake Union Campus

In the summer of 2003, University of Washington School of Medicine began renovating the Brotman Building.  The project was the first step in UW Medicine’s multi-phase development plan to build a state-of-the-art biomedical research campus in South Lake Union.  The development plan for the UW Medicine was an important catalyst in the redevelopment of the South Lake Union Neighborhood that has grown significantly with the addition of several mixed-use housing options, restaurants, retail stores, and the office headquarters for Amazon.com.

The currently completed campus consists of three state-of-the-art laboratory buildings and one office building. It totals 542,000 square-feet, with a total bond issue of more than $362 million.  Plans to continue development (Phases 3.2 and 3.3) will add two new buildings to the same city block as Phase 3.1.  With the completion of Phase 3.3, the entire UW Medicine Lake Union Campus will consist of six buildings and 903,000 square-feet of office and life sciences laboratory space.

More information on the Development Partners

NDC HEDC Public-Private Partnerships: www.ndcppp.org

Perkins+Will Seattle: http://perkinswill.com/work/perkins%20will-seattle-office.html

Sellen Construction: http://www.sellen.com/

UW Medicine: http://www.uwmedicine.org/research

Vulcan Real Estate: http://vulcanrealestate.com/

 

 

 

HILLTOP REGIONAL HEALTH CENTER ACHIEVES LEED GOLD CERTIFICATION

Congratulations to NDC’s NMTC Project, Hilltop Regional Health Center  in Tacoma, WA! Hilltop announced this week that they have achieved LEED gold certification under the LEED for New Construction Rating System with a total of 60 points. LEED certification identifies Community Health Care Hilltop Regional Health Center as a showcase example of sustainable design and demonstrates your leadership in transforming the building industry.

Hilltop Regional Health Center in Tacoma provides primary medical,dental and supportive health care services to low income and uninsured patients. The NMTC project involved the new construction of a 59,100 sq. ft. health care facility. It also included the construction of a parking structure adjacent to the center that provides 250 parking spaces for clinic staff and patients. The facility is located in a low – income, medically underserved neighborhood with a poverty rate of 40.8%, median family income of 48.1% and unemployment rate of 2.45 times the national average

NDC’s $10 million Qualified New Markets Tax Credit (NMTC) Equity Investment in the $26.7 million project was combined with financing from US Bank. Additional NMTC allocation provided by US Bancorp CDC and the Low Income Investment Fund, resulting in the creation of 60 construction jobs and 86 permanent jobs.

 

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