Kings Theatre Restoration Receives Platinum Reconstruction Award From Building Design+Construction Magazine
Bothell, WA- The city of Bothell invites the public to celebrate the completion of its new City Hallfrom 10 a.m. to noon on Nov. 7 at 18415 101st Ave NE in Bothell. A live band will kick things off at 10 a.m., followed by brief speeches, a plaque dedication and ribbon-cutting ceremony. The public will be encouraged to visit all floors of the building for an open house from about 10:45 a.m. until noon. Complimentary refreshments and activities for children, including supervised building with Lego blocks, will be available. The public also can purchase crepes from the Crisp Creperie food truck, which will be on 101st Avenue Northeast. A section of 101st Avenue from 183rd Street to 185th Street will be closed for the event from 7:30 a.m. until 12:30 p.m. More about the event HERE
Located in the heart of Bothell’s downtown, the city hall and multi-use campus is a key element of the City’s downtown revitalization plan that has already attracted over $200 million in private investment and is expected to stimulate an additional $450 million in private investment over the coming years.
We are thrilled to announce the University of Alaska Fairbanks (UAF) Wood Center Renovation/Expansion received the Society for College and University Planning (SCUP) and AIA 2015 Merit Award for Excellence in Architecture-Building Additions or Adaptive Reuse.
The Wood Center was the first phase of the University’s campus master plan and the first major renovation/addition to the facility since construction in 1972. Funding was provided through a Public Private Partnership (P3), the first P3 for UAF and to our knowledge, the first P3 Student Center in the country!
The northern lights served as design inspiration, stemming from UAF’s challenge to capture the essence of Alaska within the facility. The lights’ influence of color and light on sensory perceptions invigorates the center and creates a colorful, vibrant facility that is now the place to see and be seen on campus!
The expansion includes a new dining room, servery, coffee house, lounge space, monumental stairway and various study/collaboration areas. Innovative insulated panels and other energy-saving strategies were incorporated to help reduce energy use by 66%, achieving the goals of the 2030 Challenge.
University of Alaska Fairbanks – Jenny Campbell, Senior PM
National Development Council – John Finke, Financing Partner
Lorig Real Estate Development and Management – Joe Borden, Project Executive
General Contractor: GHEMM Company, Inc.
Design Alaska – Mechanical, Electrical and Plumbing
KPFF – Structural Engineer
DOWL HKM – Civil Engineer
Stafford Design Group – Food Service
Perkins+Will Design Team:
Anthony Gianopoulos, Managing Principal/Project Manager
Doug Streeter, Design Principal
David Damon, Planning Principal
Carsten Stinn, Devin Kleiner and Francesly Sierra, Project Architects/Designers
Krisan Osterby, Site Planning/Landscape
The Grow Olympia Fund’s First Borrower Re-Opens Their Expanded Downtown Location
Olympia, WA –On Thursday, October 22nd from noon to 1 pm, Olympia Coffee Roasting Company will host a grand re-opening of their newly expanded flagship location, located at the corner Cherry Street and 4th Avenue in Downtown Olympia. The company now occupies the neighboring building located on 4th Avenue, directly across the street from Olympia City Hall. The event celebrates their expanded facility and will feature samples of their award winning coffee along with free cake.
Olympia Coffee Roasting Company is an award winning, boutique coffee roaster that sources and roasts coffee in small batches. With three locations in Olympia, the expansion of the Cherry Street location provides increased space for the roasting and production facility. The facility includes a brand new roasting works anchored by a refurbished 23-kilo Gothot roaster from Germany along with training, cupping, and quality control lab facilities and offices for Olympia Coffee’s growing team.
“We are excited to invite folks to come see our newly expanded Olympia Coffee Roasters.” Said Oliver Stormshak, co-owner of Olympia Coffee Roasting, “We want to thank the Grow Olympia Fund for our loan that helped to make our dream a reality by expanding our facility and meeting the growing demand for our coffee while continuing to support our company mission of improving the quality of life for our coffee farmers, staff and customers.”
The owners, Oliver Stormshak and Sam Schroeder, received a loan in the amount of $320,000 from the Grow Olympia Fund to pay for tenant improvements and equipment. This is the first loan to close from the newly created loan fund, a partnership between the City of Olympia and the National Development Council’s Grow America Fund that provides lower cost financing to small businesses in Olympia, helping local businesses grow and create jobs.
“Working with local business entrepreneurs to expand and strengthen their operation is one of the priorities of the Grow Olympia Fund.” Said Olympia’s Mayor Stephen Buxbaum, “Our downtown strategy includes helping retail enterprises in our downtown to succeed. What the Olympia Coffee Roasters have been able to accomplish serves as a great example of what can happen when we partner with a local small business.”
“Congratulations are deserved to all involved,” said John Palyo, President of NDC Grow America Fund, “We are thrilled when one of our businesses is able to use our fund to achieve its full potential. Olympia Coffee Roasting Company has a bright future and we are honored to have played a part in helping them achieve their goals.”
Eleven new jobs are expected to be created as a product of Olympia Coffee Roasting Company’s expansion. As part of the City’s goals for economic development, the Grow Olympia Fund offers tangible support to local small businesses. It also coincides with the first few months of the City’s newly hired Economic Development Coordinator, who sees the Grow Olympia fund as a key tool in the City’s economic toolkit.
“The Grow Olympia Fund and its investment in Olympia Coffee Roasting Company is an example of the City’s commitment to Economic Development. This is exactly the kind of business we want to help grow in Olympia; a local business that is deepening their roots in our community”, said Renee Sunde, Economic Development Director.
About the City of Olympia’s Grow Olympia Fund
The Grow Olympia fund is part the Olympia City Council’s continuing efforts to support small business. The loan fund is managed by NDC Grow America Fund and a portion of the City of Olympia’s Community Development Block Grant (CDBG) funds are used to pay for the management of the fund. The actual loan monies come from the Grow America Fund (GAF) and are backed by the federal Small Business Administration. Businesses that receive a Grow Olympia Fund Loan can buy machinery or equipment, make improvements to leased space, refinance an existing loan or buy property.
About National Development Council and NDC Grow America Fund
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. NDC’s Grow America Fund (GAF) is a 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
About Olympia Coffee Roasting Company
Olympia Coffee Roasting was founded in 2005 and sold five years later to Oliver Stormshak and Sam Schroeder in 2010. While both owners gained their initial experience in other coffee shops, they have taken coffee roasting to new levels. In the past five years they have built up their business by investing in the quality of their coffee, increasing their staff to 30 people and expanding their business by over 100%. The Grow Olympia Fund monies will help them to triple the foot print in their flagship location downtown at Cherry and 4th Avenue by offering an expanded café, barista training center and storefront for wholesale activity. For more information, please visit: www.olympiacoffee.com
Seattle, WA – University of Washington’s School of Medicine and the National Development Council closed on the financing for the development of a $143 million biomedical research building in South Lake Union. The project is the fourth phase in a biomedical research campus and is located on two full city blocks in the South Lake Union neighborhood of Seattle.
The existing campus has established University of Washington as a national leader in biomedical research and consists of 3 state-of-the-art laboratory buildings and one administrative building, totaling over 400,000 square feet of usable space. In total, the projects represent an investment of more than $365 million.
The new building will provide approximately 165,000 square feet of biomedical research facilities, with three clinics and associated clinical research facilities. Research at the new site is expected to include new programs and the expansion of existing programs, including microbiology, global health, kidney research, immunology, biomedical informatics, neurosciences, protein design, gastrointestinal and behavioral assays. The new building will include a primary care clinic, as well as a diabetes clinic and an ophthalmology clinic focused on retinal diseases.
The project is being delivered using the National Development Council’s American model for public-private partnerships. The model uses tax-exempt bond financing and employs a private sector development team to maximize the benefits of private sector development expertise. The development team includes the UW School of Medicine, Vulcan Real Estate, Perkins+Will, Sellen Construction and National Development Council.
“This project will further ensure that the School of Medicine remains at the forefront of leading edge biomedical research focused on improving the health of the public.” Said John Slattery, Vice Dean for Research and Graduation, School of Medicine, University of Washington, “The presence of clinic space will also provide a unique opportunity to integrate clinical care and research in this vibrant area of the city.”
CHECK OUT this great article talking about how Public-private partnerships (P3) are gaining popularity across the country as governments tighten budgets. In the article, NDC’s John Finke described the NDC American Model for P3, a financing that is uniquely American: tax-exempt financing, typically through bonds.
Read Full Text HERE
NDC’s Corporate Equity Fund and New Markets Tax Credit project, 12th Avenue Arts was selected as one of ten real estate developments to win the 2015 Urban Land Institute Global Awards for Excellence. The award is widely recognized as one of the land use industry’s most prestigious award programs. 12th Avenue Arts was honored Tuesday (October 6, 2015) at the ULI Fall Meeting in San Francisco.
The awards competition, now in its 37th year, recognizes real estate projects that achieve a high standard of excellence in design, construction, economics, planning, and management. The program, open to all and not limited to ULI members, is viewed as the centerpiece of ULI’s efforts to identify and promote best practices in all types of real estate development.
“Each of this year’s finalists and winners demonstrates how innovation and design intersect with development performance,” said jury chair Michael Covarrubias, chairman and chief executive officer of TMG Partners in San Francisco, California. “The diversity of these projects is a reflection of the land use industry’s interdisciplinary nature, illustrating the variety of ways to stabilize a neighborhood, improve the streetscape, and create meaningful experiences for communities worldwide.”
NDC worked in collaboration with Capitol Hill Housing to complete the project, which transformed a 29,000-square-foot surface parking lot into a light-filled cultural center mixing arts, affordable housing, and public-safety needs. The bulk of the funding for this project was from public and private sources, including the City of Seattle, State of Washington, National Development Council Corporate Equity Fund (CEF), National Development Council HEDC New Markets (NMTC) and KeyBank. The affordable housing component was financed with a combination of tax exempt bonds and differed loans from the City of Seattle and the State of Washington. Capitol Hill Housing raised $4.1 million in donations for 12th Avenue Arts, the capital campaign combined with New Markets Tax Credit Equity, a 108 Loan from the City of Seattle and a conventional bank loan were used to finance the art space as well as the office and retail portion.
Today the project is active both day and night and has become an anchor of the community. Congratulations to the project and our partners on receiving this prestigious award!
For more information about the 2015 winners, finalists, and the development teams behind each project, visit the Global Awards for Excellence pageChuck Depew
National Development Council
(206) 842-7572 direct
(206) 419-3904 mobile
WASHINGTON–(BUSINESS WIRE)–Invest in the USA (IIUSA), the national not-for-profit industry trade association for the EB-5 Regional Center Program (the “Program”), today delivered its “EB-5 is Working” letter to Congress signed by more than 875 organizations supporting reauthorization of the EB-5 Immigrant Investor visa program. Unless Congress passes reauthorization legislation, the program will expire on September 30.
“The more than 875 organizations signing on to IIUSA’s letter of support for EB-5 reauthorization highlights the vital role that the EB-5 Regional Center Program plays in economic development across the country. EB-5 investments support job creation in sectors ranging from healthcare to construction to energy production. Reauthorization before September 30 is critical to maintain confidence in the program that is on track to generate $4 billion in investments this year,” said Peter Joseph, executive director of IIUSA.
The 875+ signatories include: National Association of Counties, U.S. Conference of Mayors, Council of Development Finance Agencies, and National Development Council. Also signing the letter are numerous city mayors, economic development agencies, port authorities, chambers of commerce, banking institutions and associations, energy organizations and associations, and more.
Read FULL RELEASE HERE
August and September 2015 mark the 10-year anniversary of Hurricanes Katrina and Rita. The regions’ geographic, economic and social landscapes were severely impacted by these events. In the years following, Not-for-profits played a pivotal role in rebuilding communities and lives in the great city of New Orleans.
On Friday September 25, 2015, Institute for Local Innovations (ILI) will host ILI OpenS.O.U.R.C.E. (Sharing of Understanding, Resources, and Connections Equitably) to facilitate a conversation between development experts and community based non-profit organizations. The program will discuss best practices for organizational sustainability including, but not limited to, communications, public policy, leadership, financial management, legal compliance and measurements of community impact. More information about the event can be found HERE.
The National Development Council (NDC) in its mission to support and strengthen communities across the U.S. is pleased to partner with ILI in support of its redevelopment efforts in the City of New Orleans. NDC’s sponsorship of the OpenS.O.U.R.C.E. event includes Technical Assistance and Training support to the nonprofit community in the city of New Orleans through the Institute for Local Innovations, Inc. (ILI).
In response to a letter signed by 24 organizations calling for Congress to keep the caps intact, NDD United issued a statement, available here. The statement points out that for every one of these 24 groups, there are over 100 talking about the importance of raising the caps for the economy and for Americans.
Additionally, The White House has put out a blog by OMB Director Shaun Donovan today on the importance of lifting sequestration caps to the economy. The text is available here.
Continue to spread the word through social media and by calling your representatives! Tell Congress to (1) raise the spending caps and (2) fully fund affordable housing and community development programs.
Leighton Landing- Big Lake, MN
In partnership with Central Minnesota Housing Partnership (CMHP) The NDC Corporate Equity Fund XI has closed the financial portion of Leighton Landing. The project is located in Big Lake, MN and provides 32 units of affordable housing to low-income families. NDC’s LIHTC investment recapitalized the project and supported the rehabilitation of the townhome units. CMHP will retire existing debt from the original investor in order to preserve financing and keep the development an affordable housing project under LIHTC tenant eligibility.
Kimbark Apartments- Longmont, CO
In partnership with Thistle Communities, The NDC Corporate Equity Fund XI has closed the financial portion of Kimbark Apartments. The project is located in Longmont, CO in an area abundant with shopping, recreation, government services and schools. NDC’s LIHTC investment supported the rehabilitation of 48 units of affordable housing. The improvements to be made under this transaction are to increase resident satisfaction. Thistle Communities will replace the roofs and all of the siding, repair and seal coat the parking lots, repair areas of concrete sidewalks, install new windows and sliding patio doors, update kitchen and baths with new cabinets, counter-tops and new Energy-Star rated appliances, replace flooring, upgrade plumbing and exterior lighting and install carbon-monoxide detectors in all units.
The Small Business Lending Arm for National Development Council Receives an award from the CDFI Fund of $1.75 Million
NEW YORK, NY – The Community Development non-profit, National Development Council’s small business lending arm, Grow America Fund, has been selected to receive a grant from the Community Development Financial Institutions Fund (CDFI Fund) in the amount of $1.75 million.
The CDFI Fund supports Community Development Finance Institutions or CDFI’s by issuing monetary awards that will be used to promote access to capital and local economic growth in low-income communities across the United States.
NDC Grow America Fund has loaned more than $195 million to over 530 small businesses across the United States, with a special focus on minority and women-owned companies. The program has created or retained more than 13,000 permanent jobs while increasing investment in underserved communities.
“We are thrilled to receive an award,” said Robert Davenport President of NDC. “We are proud of our program and its achievements, but more importantly we are ready to get this money invested in communities across the country.”
“We see the impact of small businesses and the jobs they create in communities first hand,” said John Palyo President of NDC Grow America Fund. “This grant will provide us with capital that we can use to make a positive impact in urban and rural low-income communities across America.”
About National Development Council and NDC Grow America Fund
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. NDC’s Grow America Fund (GAF) is a 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
(WASHINGTON, DC) Today, at 11 AM, Reps. Chris Van Hollen (MD-08), Rosa DeLauro (CT-03), and Barbara Lee (CA-13) will join advocates representing more than 2,500 national, state and local organizations for veterans, teachers, scientists, law enforcement, women’s rights, transportation safety, and others to call for Congress to avoid America’s next great budget crisis.
With the bi-partisan Murray-Ryan deal set to expire on October 1st, nondefense discretionary (NDD) programs—ranging from education and job training, to housing and science, to natural resources and veterans services, to public health, safety and security—are once again on a crash course to disaster as the true impact of sequestration will be felt by millions of Americans from all walks of life.
Leaders of NDD United will present a letter signed by more than 2,500 groups to Congressional leaders and Committee members demanding Congress raise the spending caps and end sequestration through a bipartisan budget deal. A deal would prevent drastic cuts to women’s health, early education, transportation safety, law enforcement, veterans, and other important sectors. NDD advocates will discuss some of the critical cuts our country will face if no deal is reached on the budget.
More Details about the event below,
Press Conference THURSDAY, September 10th, 11 AM
|WHAT:||Members of 2,500 NDD related groups to call on Congress to end sequestration, invest in critical programs|
|WHERE:||House Triangle (Rain location: Rayburn 2456)|
|WHEN:||September 10th, 2015, 11 AM|
NDC and our fellow partners in the #CapsHurt Communities campaign have organized National Call- IN Days on September 15 and 16 to educate Members of Congress on just how devastating these cuts are to low-income children, families, seniors, and veterans in our communities.
Please Mark Your Calendars!
#CapsHurt Communities National Call-In Days
September 15 and 16, 2015
9:00 A.M. to 5:00 P.M. EST
Call your Senators and Representative(s) to deliver a simple unified message: Tell Congress to (1) raise the spending caps and (2) fully fund affordable housing and community development programs.
For more information on funding levels for housing and community development programs please revisit the budget chart we released earlier this year.
NDC’s Bud Sweet will join fellow community development professionals September 13-15, 2015 for the N.E.D.A Annual Conference in Syracuse, NY.
The conference will bring together organizations from across the Northeast to discuss experiences, challenges and best practices for revitalizing communities across the region. The conference goal is to help attendees Re-Think the possibilities for their community, Re-Vive professional passion for everything from downtown revitalization, to tech incubation, to sustainable land use, and workforce development.
See you there!
- Empty the National Housing Trust Fund in 2016 and forever after (House bill).
- Effectively eliminate the HOME program with a 93% funding cut (Senate bill).
- Fail to renew existing vouchers (House bill would not renew 28,000 existing vouchers, Senate bill would not renew 50,000 existing vouchers).
- Insufficiently fund the renewal of all project-based rental assistance contracts (House bill).
- Cut public housing capital funds (House and Senate bills).
- Eliminate increases sought by HUD for Homeless Assistance Grants (House and Senate bills).
NDC Corporate Equity Fund (NDC CEF) is proud to announce its’ twelfth low-income housing tax credit (LIHTC) fund, NDC Corporate Equity Fund XII, L.P. The $60 – $75 million fund is scheduled to have its’ first Fund closing late summer 2015.
NDC CEF, provides equity capital for the construction and preservation of affordable housing using LIHTC, Federal and State Historic Preservation Tax Credits and Renewable Energy Credits.
“We owe great thanks to our partners and investors for their continued support of NDC Corporate Equity Fund” said Ann Vogt, Managing Director, NDC Corporate Equity Fund, L.P. “We look forward to investing our time, expertise and equity in projects across the country that will provide much needed quality affordable housing units.”
Over the past 20 years, NDC CEF has successfully subscribed eleven previous multi-investor funds (NDC CEF I through XI) raising and investing more than $550 million in housing for families, seniors and people with special needs nationwide. The 175 projects in NDC Corporate Equity Fund’s portfolio total over $1.5 billion in investments and include over 7,500 units of LIHTC housing in 29 states.
NDC Presents the 2015 Robert W. Davenport Community Development Leadership Award to Bellone at the Wyandanch MTA LIRR Parking Garage Ribbon Cutting
August 13, 2015 (Wyandanch, NY) – National Development Council (NDC) presented Suffolk County Executive, Steve Bellone with the Robert W. Davenport Community Development Leadership Award. Bellone is the first ever recipient of this award and is recognized for his incredible work and single-minded focus on making the Wyandanch Rising project on Long Island a reality.
“I am honored that I have been chosen to be the first recipient of the Robert W. Davenport Community Development Leadership Award for the Wyandanch Rising project,” said Suffolk County Executive Steve Bellone. “Robert Davenport is truly a committed community servant who has dedicated a large portion of his career to ensuring that underserved communities have access to the resources needed to alleviate pervasive poverty among its residents. The Wyandanch Rising project is an initiative which is aligned with the mission of the National Development Council and I thank you for finding me and the project a worthy candidate to receive this most prestigious award.”
Wyandanch is a hamlet in the Town of Babylon in Suffolk County, NY just 35 miles east of Manhattan and an hour from Penn Station on the Long Island Rail Road. Bellone’s focus has been to increase development and private capital flowing into Wyandanch. The Wyandanch Village development, the cornerstone project of the Wyandanch revitalization plan has spurred community revitalization, infrastructure investment in roads, sewers and a parking garage, and creates a transit oriented-brownfield redevelopment that will include affordable rental housing, planned public space, public services, and the Long Island Music Hall of Fame.
“As a result of Steve Bellone’s leadership, Wyandanch is experiencing an incredible transformation, evolving from Long Island’s most economically distressed community to a national best practice model of community inspired smart growth, transit-oriented development.” Said Daniel Marsh Executive Vice President of NDC “I want to commend Steve and celebrate Robert Davenport whose legacy will live on through this award”
About the Robert W. Davenport Community Development Leadership Award
The Robert W. Davenport Community Development Leadership Award is a biennial award named in honor of retiring NDC President Bob Davenport, a nationally recognized community development advocate who has helmed the organization since 1986. Under his leadership, NDC has achieved recognition as one of the Nation’s most innovative and respected economic development organizations, credited with introducing leading-edge financing techniques and programs designed to increase the flow of capital into economically underserved communities.
August 5, 2015 – NDC will join project partners, investors and supporters at the Grand Opening of Sunny View Village on Whidbey Island. The Event will take place today at 11am at 1667 Scenic Avenue in Freeland, Washington and is sponsored by the Housing Authority of Island County.
Sunny View Village is a newly constructed project that consists of one, two and three bedroom apartments and addresses the demand for affordable family housing on Whidbey Island. Seven units will have Project Based Section 8 rental vouchers and will be set aside for homeless families, the remaining units are set aside for those earning 50% of AMI and 60% of AMI.
The seven units set aside for homeless families are considered transitional housing and are supported by the non-profit Opportunity Council, to provide referrals, case management and other services at no cost to the project. These services will continue until residents either no longer need them or the family are ready to transition into a self-support program.
NDC CEF partnered with Common Ground and the Housing Authority of Island County, using a combination of Low-Income Housing Tax Credits, Tax-Exempt Bond Financing, Island County HOME Funds, and Island County 2063 Funds to help finance and develop the $6.3 Million project.
We are proud to be a part of Sunny View Village and would like to congratulate our partners and investors on this impactful project!