Historic Tax Credits

$700,000 Federal
$775,000 State

New Markets Tax Credits

$2 Million

Total Development Cost

$4.9 Million

Project Partner

Whitney Group, LLC

Impact

Rural Investment, and more.

The J.H. Needless Wagon and Carriage Factory
History

The J.H. Needless Wagon and Carriage Factory

The Whitney first opened in 1879 and operated in its early days as the J.H. Needless wagon and carriage factory. In 1931, Edward A. Boss, the owner of the Boss Hotel System, dramatically altered the building into a hotel, making additional enhancements including the addition of a third story and a remodeled primary entrance. The adaptation of the building into a hotel during the Great Depression reflected an economical approach to filling a local void for clean and comfortable accommodations. After being used as a hotel through the mid-1970s, the building was sold to the Iowa Rehabilitation Center, which housed recovering alcoholics in the rooms that once hosted overnight motorists and local community groups. In more recent years, the building had been utilized for apartments, with a restaurant occupying the coffee shop area on the first floor until it became vacant in 2016.

Bringing Life to Atlantic
Revitalization Efforts

Bringing Life to Atlantic

The adaptive reuse of The Whitney is now providing a mix of residential and commercial uses. The first floor hosts a restaurant as well as offices and community space for building residents. The residential units on the top two floors offer a mix of 16 one- and two-bedroom units; All units are offered at rents that are 80% or less of area median income; four of the units are rent restricted to no more than 30% of household income. The remaining 12 units are available at rents considered affordable to households earning no more than 80% area median income.

Community Impact

Rural Investment

The Whitney’s rehabilitation delivered multiple community benefits and promoted further economic development in Atlantic, a small town of 7,000 people roughly 80 miles west of Des Moines and 55 miles east of Omaha. It is located downtown on Chestnut Street, Atlantic’s “Main Street”, in a census tract where the median family income is 59% of the area median income and the poverty rate is 24%. The project has created 23 permanent jobs, many of which are in a restaurant and accessible to people without college degrees.

In addition to commercial uses, the project is the first significant

delivery of market rate apartments in downtown Atlantic in over 20 years. According to research by the National Main Street Center, there is a huge multiplier impact of having residents in downtown areas, as they will typically concentrate a greater proportion of their consumer spending in the downtown on retail/services. Additionally, demonstrating that there is a demand for market rate housing in downtown creates a catalytic effect on surrounding redevelopments. The project’s potential has been recognized by the city of Atlantic, which enabled the creation of a TIF district that has allowed the project to access an additional $538,000 in funds.

7,000

Population in Atlantic

24%

Poverty Rate in Census Tract

$538,000

Additional Funds Secured

23

Permanent Jobs Created

NTCIC & Progress

Economic Impact

The Whitney was made possible, in part, by NTCIC through an equity investment in the $700,000 in federal Historic Tax Credits and $775,000 in state Historic Tax Credits generated by the project as well as a $2 million New Markets Tax Credit (NMTC) allocation. This project was the first to utilize the Irvin Henderson Main Street Revitalization Fund.

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Historic Tax Credits

$4 Million Federal

New Markets Tax Credits

$10 Million

Total Development Cost

$30.2 Million

Project Partner

Community Solutions International

Impact

Economic Development, and more.

Home of the M. Swift & Sons Company
History

Home of the M. Swift & Sons Company

The M. Swift & Sons Company Historic District was founded and constructed between 1887 to 1948 in Northeast Hartford, CT. The district’s factory complex, called Swift Factory, consisted of five interconnected buildings and two historic residences. The Swift Factory once functioned as the home of the M. Swift & Sons Company throughout its over one-hundred-year story, making it a significant component of the City’s industrial heritage. Over its history, the products manufactured at the site included gold and silver leaf, hot dye stamping foils, and gold plating products.

Once a hub of economic vitality for the community, the factory was eventually closed and has been vacant for more than a decade. A new vision for revitalization is now emerging. Together with local residents and community organizers, nonprofit Community Solutions is redeveloping the complex to capitalize on the assets of the community and address needs for high quality jobs and community services.

A Vacant Factory Comes to Life
Revitalization Efforts

A Vacant Factory Comes to Life

The adaptive reuse of the former Swift Factory returned the vacant manufacturing space into a state-of-the-art facility that provides high-quality jobs for residents of the surrounding community, specifically those considered low-income. The space also includes a commercial food manufacturing kitchen, a food business incubator, community space and non-profit office space.

Community Impact

Generating Local Jobs

The renewed Swift Factory hosts tenants that provide a range of job opportunities. The project generated 45 full-time-equivalent construction jobs and created 100 permanent jobs.

The anchor tenant is the manufacturing arm of Bears Smokehouse Barbecue, a locally owned, Missouri-style barbecue restaurant and a condiments and spice producer. The new location allowed them to expand their retail, wholesale, and online sales of sauces and meats and created roughly 60 manufacturing jobs. Bears Smokehouse is committed to hiring members of the local community including individuals with barriers to employment such as those who have been formerly incarcerated.

The Swift Factory also provides space for FreshBox Farms, an established regional hydroponic operator that provides fresh produce for the community. Additional healthy food options are generated

through a food business incubator that provides 10 certified food production spaces for local entrepreneurs who have access to a shared commercial cooler and freezer, a co-packing facility, training, and a mentorship network for small businesses.

Additional space hosts several non-profit organizations. Tenants include Food Corps, Girls for Technology, and Community Solutions. Visiting artists, chefs, storytellers, physicians, and farmers also have access to dedicated community and art space.

Environmentally sustainable practices such as ecological surface storm water management, water conservation in common areas, improved thermal performance of all onsite windows, air sealing at all openings, high-efficiency HVAC, and energy efficient light fixtures in common spaces were also incorporated into the rehabilitation of Swift Factory.

10

Food Production Spaces

100

Permanent Jobs Created

45

Construction Jobs Created

60

Manufacturing Jobs Supported

NTCIC & Progress

Economic Impact

Swift Factory was made possible, in part, by NTCIC through an equity investment in the $4 million in federal Historic Tax Credits (HTC) generated by the project as well as a $10 million New Markets Tax Credit (NMTC) allocation.

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Historic Tax Credits

$6.7 Million Federal

New Markets Tax Credits

$10 Million

Total Development Cost

$41.5 Million

Project Partner

Brokaw Development

Impact

Job Creation/Retention, and more.

Akron's South Main Street Historic District
History

Akron's South Main Street Historic District

The Bowery project consists of six previously city-owned buildings along Akron’s downtown corridor. Among them stands the 158-foot-tall Landmark Building at the corner of Main and Bowery, which opened in 1923 as the Akron Savings & Loan Company. One of the more prominent buildings in the district, it was designed by New York architect Alfred Hopkins, who at the time was primarily known for his economical, yet complex approach to architecture, as well as his specialization in farming complexes. The buildings are located at the center of Akron’s South Main Street Historic District and played a major role in establishing the area as Akron’s primary commercial district – particularly in the rubber industry. The city of Akron was the birthplace of Goodrich, Firestone, and General Tire.

The other buildings included in the revitalization project consist of various historic shops and office buildings that once housed furniture showrooms, doctors, and jewelers, but have since sat vacant for over two decades. The Akron Civic Theater, located a few doors down from the Landmark Building, was the blocks only heartbeat for nearly twenty years.

Activating Akron
Revitalization Efforts

Activating Akron

This catalytic, mixed-use project features 92 mixed-income apartments, office space for local businesses, and over 39,000 square feet of storefront and commercial space, much of which was pre-leased prior to closing. The buildings are connected and have access to an adjacent parking structure owned by the city. Among the new tenants of the Bowery project is a local fresh food grocer and café that occupies 8,400 square feet of space.

The Akron Civic Theater, known as the “Jewel on Main Street” also played a significant role in the redevelopment. They leased 7,127 square feet of space from the development for a new box office, offices, space for small community events, and additional theatre space for small-scale performances.

In an effort to continue the activation of Akron’s Main Street, the City of Akron also used a portion of the development to create an indoor promenade connecting Main Street to the Lock 4 Park on the canal level behind the Bowery. The promenade features pop up retail spaces and community events and encourages pedestrians to take advantage of the scenic canal, which has also seen recent revitalization.

Community Impact

Lifting Up a Community

The downtown corridor of Akron has suffered considerable disinvestment for decades and is one of the most important components to the Downtown Akron Vision and Redevelopment 10-year action plan, which was created in collaboration with the city and community residents. Residents and officials have long identified the need for jobs, access to healthy food, and affordable housing as a top priority. The Bowery project addresses all these issues while eliminating blight and spurring additional revitalization for the historic Main Street of Akron.

The project is located in a severely distressed low-income area suffering from high unemployment and poverty rates. To support the availability of affordable housing in the area, the Bowery project dedicated 23 of the available rental units to low-income individuals and families (80% AMI). To ensure the inclusion of healthy food, the development team leased a significant portion of the commercial space to a local fresh food grocer. Before this project, downtown Akron had no substantial grocer to support local residents and was considered a food desert.

10-Year Action Plan

for Downtown Akron

39,000 Square Feet

of Commercial Space

23

Low-Income Apartments

92

Mixed-Income Apartments

NTCIC & Progress

Economic Impact

The Bowery was made possible, in part, by NTCIC through an equity investment in the $6.7 million in federal Historic Tax Credits (HTC) generated by the project as well as a $10 million New Markets Tax Credit (NMTC) allocation.

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Historic Tax Credits

$1.29 Million Federal

New Markets Tax Credits

$2 Million

Total Development Cost

$8.37 Million

Project Partner

Shenandoah Manager, LLC

Impact

Small Business Support, and more.

The Former Shenandoah Hotel
History

The Former Shenandoah Hotel

Originally a railroad industry town during and after the Civil War, by the 1920s, Martinsburg, West Virginia became a leader in textile manufacturing, with large commercial businesses rapidly opening in the downtown corridor. The former Shenandoah Hotel is the only surviving building of its kind in Martinsburg, West Virginia. The building itself sits on the site of the Blondel Mansion, which was constructed in the early 1800s by the plantation owner and Haitian Revolution refugee Anthony Blondel. The home was purchased for $45,000 in 1923 after his death and subsequently torn down. Local community investors raised $600,000 to build the Shenandoah Hotel, a luxurious 104-key boutique hotel that opened to the public on George Washington’s birthday, February 22, 1926. Located in the heart of Martinsburg, the hotel became a cornerstone of Martinsburg’s social scenes, making it a popular destination for tourists and celebrities.

The hotel featured a “Crystal Dining Room” which could seat up to 175 people and a “Gold Ball Room” for dancing and events. The spaces were specifically designed to complement guests’ gowns. The hotel also included a coffee shop and six rentable storefronts that faced Queen Street and two storefronts that faced Martin Street. The hotel eventually changed hands and became the Gateway Inn during the 1960s, where it remained for about 20 years. However, transfers in ownership eventually saw the permanent closing of the hotel space and the eventual shuttering of the first-floor commercial use. The building has remained largely vacant since.

A Vibrant Mixed-Use Space
Revitalization Efforts

A Vibrant Mixed-Use Space

The project transformed the former Shenandoah Hotel into a vibrant mixed-use space in the heart of the Martinsburg Main Street. This was the fourth project in NTCIC’s Irvin Henderson Main Street Revitalization Fund.

The historic building was revitalized into 38 residential units and 16,000 square feet of commercial space. Ten thousand square feet on the ground floor house multiple tenants, with a focus on small businesses graduating from a nearby incubator, as well as restaurant space. The basement includes 6,000 square feet of additional specialized commercial space.

NTCIC’s investment goal with the Shenandoah project was to promote a small deal in a tertiary market by creating community-serving commercial space and setting aside affordable residential units to benefit the local community. The project sponsors worked directly with Martinsburg’s local Main Street Association to find commercial tenants for the space.

Community Impact

Martinsburg Main Street

Known as the “Gateway to the Shenandoah Valley,” Martinsburg boasts a historic downtown that covers about 52 blocks and consists of commercial sites, retail, office buildings, warehouses, and storage buildings in which the Shenandoah centrally sits. Main Street Martinsburg is a collaboration of dedicated volunteers, business and property owners, concerned citizens, and local governments that work together, promotes, and enhances the economic strength of historic downtown Martinsburg. Martinsburg Main Street strongly supports the revitalization efforts as a way to connect members of the community to key destinations, hiking trails, and adjacent neighborhoods, while developing a new and much needed tenant mix that will allow the community to take the next step toward revitalizing the historic downtown. Martinsburg Main Street will be directly

involved in the selection and approval of all commercial tenants looking to take space in the new Shenandoah Hotel building.

The project created over 16,000 square feet of commercial office and retail space in a formerly vacant, underutilized building. The space allowed small, local, minority-owned, and women-owned businesses to expand and meet the economic demand for new restaurants, retail shops, and professional offices. The project also provided much needed mixed-income housing in the downtown district, with 38 residential units of which 20% are income-restricted to households earning 80% or less of AMI. The project created roughly 40 permanent positions and 57 jobs during construction.

52 Blocks

of Historic Main Street

16,000 Square Feet

of Commercial Space

57

Construction Jobs Created

40

Permanent Jobs Created

38

Residential Units

NTCIC & Progress

Economic Impact

The Shenandoah was made possible, in part, by NTCIC through an equity investment in the $1.29 million in federal Historic Tax Credits (HTC) generated by the project as well as a $2 million New Markets Tax Credit (NMTC) allocation. This was the fourth project in NTCIC’s Irvin Henderson Main Street Revitalization Fund.

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Historic Tax Credits

$2.9 Million Federal
$2.9 Million State

New Markets Tax Credits

$2 Million

Total Project Cost

$17.4 Million

Project Partner

Housing Visions & David Yaman Real Estate

Impacts

Job Creation/Retention, etc.

History

Manufacturing 'Lady Lyke' Corsets

The Crescent Corset Company was one of the first wholly-owned subsidiaries of the JC Penny Company, manufacturing their private label ‘Lady Lyke’ corsets in the building. Selling private label brands such as these led JC Penny to become one of the country’s leading retailers of the 20th century.

The Crescent Company factory, located at 165-177 Main Street in Cortland, New York, served as a significant employer in the City of Cortland. Women from Italy made up much of the labor force. Through kinship networks, the promise of jobs brought workers from Italy directly to Cortland, where the men found work in nearby factories, and women found immediate placement at the Crescent Corset Company. At the company’s height in the late 1920s, it provided jobs for over 700 women.

The company was sold out of local control in 1971. The building changed hands several times before finally becoming fully vacant in the late 1990s.

Supporting the Cortland Community
Revitalization & Community Impact

Supporting the Cortland Community

Crescent Commons was a 2-year, multi-phase Historic Tax Credit (HTC) investment and the 5th project supported through the Irvin Henderson Main Street Revitalization Fund. This adaptive reuse initiative restored the former factory building into ground-level nonprofit and commercial space, as well as loft apartments on the upper floors. The building is anchored by Family Counseling Services (FCS), a private nonprofit organization founded in 1971 that provides professional counseling and prevention services to Cortland County, including mental health and chemical dependency counseling programs for youth, adults, and families. Additional tenants include the Franciscan Health Support Group and several locally owned businesses.

The residential aspect, which was completed in 2017 utilizing state and federal HTCs supported by NTCIC, includes 47 apartments, three units of which are restricted to households earning 80% of AMI. They feature loft designs with high ceilings, large windows, and open floor plans to keep with the historic nature of the building.

The project has supported 125 permanent career-track jobs, with a majority paying a living wage for the area and providing benefits such as paid leave and health insurance.

NTCIC & Progress

Economic Impact

The development of Crescent Commons was completed in two separate phases of financing, both of which were supported by NTCIC. The initial development of the building was completed in 2017 and generated nearly $6 million in combined federal and state HTCs to restore the ground floor commercial space and upper floor residential units.

After the first phase of residential and commercial development stabilized, the project sponsors sought additional funding sources to realize the full potential of the building’s lower level for commercial

occupancy that wasn’t possible within the initial development budget. However, having exhausted all federal, state, and local funding sources; coupled with the strain traditional financing sources would have on the project’s operating capabilities, NTCIC identified the project as an ideal match for the Irvin Henderson Main Street Revitalization Fund. NTCIC provided $2 million in NMTC allocation through the Fund to support additional tenant improvement costs and the development of the lower level space. All improvements will entice more significant economic activity to the neighborhood, and further enhance the capabilities of the nonprofit tenants.

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Historic Tax Credits

$4.8 Million Federal

New Markets Tax Credits

$11 Million

Total Project Cost

$28.4 Million

Project Partner

Boyd Jones Construction

USPS Railway Mail Service
History

USPS Railway Mail Service

The building that would become the Rail & Commerce building was originally built in 1925 as a three-story sorting facility for the United States Postal Service’s (“USPS”) Railway Mail Service (“RMS”). Located along the former Chicago, Burlington, and Quincy Railroad, the facility was designed by W.T. Krausch, an engineer who worked for the railroad. The RMS played a central role in America’s postal system from the Civil War through the 1970s.

The RMS reached its height in the 1930s before succumbing to a gradual decline induced by shifts to airline and truck mail transport. The slowly diminishing importance of the RMS led to a declining demand for the Omaha sorting facility building. In 1956 the USPS converted the building from a sorting facility into a storage facility, and then finally abandoned the building in the mid-1970s. Prior to its current renovation, the building had largely remained vacant since the USPS’ departure and at one time was slated for demolition and condemned by the City of Omaha.

Fostering Creativity & Entrepreneurship
Revitalization Efforts

Fostering Creativity & Entrepreneurship

The Rail & Commerce building saw the conversion of a former mail sorting and storage facility into commercial and office uses. The original first floor’s high ceiling height allowed the floor to be divided and resulted in the creation of a new mezzanine. This lower floor is home to Commerce Village, a co-working space that fosters a creative environment for startup companies and entrepreneurs. The space is fully leased and supporting 25 incubator tenants that have access to 13 individual office suites, 55 desks, and collaborative workspaces as well as common areas, conference rooms, a communal kitchen, a café, and break rooms. The new second floor contains office space occupied by the project’s developer.

Community Impact

Creating a Community Asset

The renovation into the Rail and Commerce building provided a variety of benefits to the surrounding communities. During construction, the construction team actively sought qualified minority and women-owned businesses to bid for available contracts. This created 217 construction jobs, 70% of which were awarded to local businesses and 4% of which were awarded to women-owned businesses. The rehabilitated building now hosts 209 permanent jobs with 50% of jobs available to those without a formal education or those with significant barriers to the workforce. All Jobs offered at the project are quality, career-track positions with extensive benefits such as health insurance, paid leave, retirement benefits, and job training.

The operators of Commerce Village have a successful track record of supporting the local startup community. The co-working space includes office suites priced below market with flexible leasing

terms and has hosted nonprofits, community-based groups, startups, and businesses of various sizes. Additionally, the building provides space to the Omaha chapter of the Service Corps of Retired Executives (SCORE). SCORE is a national non-profit association that provides mentoring and other services to small businesses. These services are available to the incubator tenants which will help their business grow and thrive. In 2017, SCORE provided an estimated 100 individual sessions and 6 separate group classes with 15-20 incubator employees.

The project has restored a historic landmark, transformed a vacant, underutilized building into a valued community asset, and connected the community of Little Italy to the growth and opportunites of greater Omaha.

217

Construction Jobs Created

209

Permanent Jobs Created

100% of Permanent Jobs

are Career Track Positions

81,000+ sq ft

of Leasable Space

NTCIC & Progress

Economic Impact

The Rail & Commerce Building was made possible, in part, by NTCIC through an equity investment in the $4.8 million in federal Historic Tax Credits (HTC) generated by the project as well as a $11 million New Markets Tax Credit (NMTC) allocation.

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Historic Tax Credits

$1.5 Million Federal

New Markets Tax Credits

$9.5 Million

Total Project Cost

$10.2 Million

Project Partner

Self-Help Ventures

Impact

Small Business Support

Historic Angier Avenue
History

Historic Angier Avenue

In the 1880s, the founding members of Angier Avenue Baptist held Sunday school classes out of a “small wooden structure known as the Oak Grove School.” At this time, East Durham had not yet been incorporated into the city of Durham. It was a separate town with its own officials and did not yet have electricity, running water, or paved streets. In search of a permanent location for the church, the founders decided that the intersection of Angier Avenue and Driver Street would be the location for their new church. It was completed in 1889 and lit with kerosene lamps and heated with coal-burning stoves. The sanctuary was further expanded in 1924 and remained a community fixture for nearly a century.

The project also includes the revitalization of three additional storefront buildings lining the central thoroughfare. They’ve hosted many local businesses since they were originally constructed in the 1920s but have been vacant or underutilized for years. The parish experienced declining memberships in recent years, and the building was purchased along with the neighboring buildings by Self-Help Credit Union, a locally headquartered member-owned mission-driven credit union, nonprofit loan fund, and policy advocacy organization.

A Hub of Support
Revitalization Efforts

A Hub of Support

The former church and collection of buildings are now the Angier Business & Children’s Center (ABC), a hub of support for the children and families of East Durham, as well as a space for local businesses and nonprofits to grow. The five historic buildings representing 45,000 square feet of office and retail space are now leased to businesses owned or nonprofits run by community members.

Community Impact

Supporting Children and the Community

The creation of the ABC Center provided new space for the Durham Children’s Initiative (DCI) and All my Children to grow and better serve their predominantly low-income community. DCI was able to roughly double the number of children and families they support on an annual basis, bringing the number to around 2,000. The revitalized commercial spaces have been home to a variety of businesses

that are desperately needed in the community including independent pharmacies and affordable office and retail space for local entrepreneurs. In total, the project created 40 construction jobs and 120 permanent jobs in the community and helped to revitalize the historic East Durham business district.

2,000

Individuals Supported by DCI Annually

45,000 sq ft

of Leasable Space

40

Construction Jobs Created

120

Permanent Jobs Created

NTCIC & Progress

Economic Impact

The ABC Center was made possible, in part, by NTCIC through an equity investment in the $1.5 million in federal Historic Tax Credits (HTC) generated by the project as well as a $9.5 million New Markets Tax Credit (NMTC) allocation.

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Historic Tax Credits

$3.7 Million Federal

New Markets Tax Credits

$4 Million

Total Project Cost

$27 Million

Project Partner

The Model Group

Impact

Affordable Housing
Small Business Support
Economic Development

Over-The-Rhine
History

Over-The-Rhine

Over-The-Rhine (“OTR”) is one of the country’s largest, most intact, nineteenth-century urban historic districts and is believed to contain the nation’s largest contiguous collection of nineteenth-century Italianate Architecture. While the specific details of the eight buildings included in the Jobs Cafe at Findlay Market project aren’t fully known, most of OTR’s ornate brick buildings were originally built by German immigrants from 1865 to the 1880s.

The neighborhood has suffered from significant neglect in preserving the historic heritage of the community and its economic condition. Since 1930, approximately half of OTR’s historic buildings have been destroyed, and in 2006, the National Trust for Historic Preservation named OTR one of the eleven most endangered historic places in America.

Transforming a Neighborhood
Revitalization Efforts

Transforming a Neighborhood

The Model Group, one of the most experienced developers in Cincinnati, led the transformation efforts of these historic scattered buildings into connective services that help nurture new businesses, grow the housing stock, and further revitalize the nearby Findlay Market. These transformations become the catalysts for or the continued momentum of broader neighborhood revitalization strategies.

The Model Group began acquiring the scattered historic properties over a two year period starting in 2014 with a vision of a vibrant, mixed-use, and mixed-income Market District anchored by Findlay Market, Ohio’s oldest continually operated public market.

Today, the Jobs Café project has created a mixture of  nearly 70 mixed-income residential units, as well as an expansion on the greater Jobs Café at Findlay Market project, a social enterprise restaurant concept that provides job training and placement for restaurant industry positions.

Several of the restored storefronts are leased back to graduates of the existing Findlay Kitchen incubator program at below-market rates, so small businesses can grow to scale and maintain their own street-facing storefronts.

Community Impact

Nurturing a Community

The eight mixed-use apartment buildings restored by this development include a mixture of residential and commercial elements, helping to transform this community into a true live/work environment.

The residential component created housing opportunities for individuals and families at a mix of income levels; 30% of the units are restricted to households earning 120% of area median income; 26% are restricted to those earning 80% of area median income; and the remaining 44% are market-rate.

The Jobs Café is part of the greater Jobs Café at Findlay Market project, and provides job training and placement for positions that pay a livable wage with benefits and offer advancement opportunity within the local restaurant industry. This program targets low-income persons and residents of the surrounding severely distressed low-income community. It is a partnership between CityLink Center, an integrative social services nonprofit devoted to breaking the cycle of poverty in Cincinnati, and the Corporation for Findlay Market. The Jobs Café trains and places 75-100 individuals annually.

The Corporation for Findlay Market leases several retail storefront spaces and subleases back to graduates of their existing Findlay Kitchen incubator at below market rates as part of a small business development program. Findlay Kitchen is a non-profit organization that supports local new and existing food entrepreneurs by providing affordable access to commercial-grade kitchen equipment and ample storage space, all within a licensed kitchen facility adjacent to the Project. Findlay Kitchen partners with external programs and organizations to provide the necessary training, mentorship, and resources to aid business growth. Findlay Kitchen also serves as a conduit to wholesale and institutional customers, helping local entrepreneurs to get their products in more places.

Other retail tenants include local small businesses and a restaurant that staffs with graduates of the Jobs Café program. The office space is leased in its entirety by a local architecture firm that was already located adjacent to the Project, but it required additional space to grow its business.

68

Housing Units

56%

Income Restricted

75-100

Jobs Cafe Participants Annually

22,687 sq ft

of Commercial Space

NTCIC & Progress

Economic Impact

Jobs Cafe at Findlay Market was made possible, in part, by NTCIC through an equity investment in the $3.7 million in federal Historic Tax Credits (HTC) generated by the project as well as a $4 million New Markets Tax Credit (NMTC) allocation.

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Historic Tax Credits

$18.2 Million Federal
$5 Million State

New Markets Tax Credits

$5 Million

Total Project Cost

$110 Million

Project Partner

Buffalo Urban Development Corporation

Impact

Workforce Development

Niagara Machine and Tool Works
History

Niagara Machine and Tool Works

The Project was originally home to Niagara Machine and Tool Works (NM&TW) that built stamping presses and press brakes for sheet metal. Its equipment was shipped to automobile and appliance manufacturers worldwide. NM&TW’s facility consists of three distinct contributing buildings related to specific functions of the manufacturing facility and the factory evolution: the Headquarters and Main Factory, built in multiple building campaigns from 1910-1981, the Pattern Shop, built in 1913, and the Metal Fabricating Plant, built in 1953. The Headquarters, the Main Factory, and the Pattern shop are what makeup Northland Central. The multiple building campaigns consist of a continuous series of irregular masses and volumes that were added as capacity, technology, and manufacturing needs were required. Depending on the time construction took place, the spaces vary in style and design from utilitarian industrial, ceremonial, and purely utilitarian. NM&TW was sold to a London-based international manufacturing company in 1992 and most of the company’s manufacturing activities ceased around 1999 and the buildings remained vacant.

Supporting the Local Economy
Revitalization Efforts

Supporting the Local Economy

The 683 Northland development transformed the historic Niagara Machine and Tool Works complex through major stabilization, remediation, and redevelopment efforts. Anchored by the Northland Workforce Training Center, part of New York’s $1 billion “Buffalo Billion” initiative, the project serves as the centerpiece of revitalization in Buffalo’s 35‑acre Northland Corridor. This investment responds to a growing need in the region’s manufacturing sector, which employs over 66,000 people but faces more than 20,000 projected job vacancies over the next decade. The rehabilitated 240,000‑square‑foot facility now provides essential space for training a skilled workforce and supporting innovation-driven manufacturing and energy businesses.

Community Impact

Providing a Path Forward

683 Northland houses two co-located training facilities: The Workforce Training Center for Advanced Manufacturing and Electric Utilities and the Utility of the Future & Clean Energy Training Center, to increase the number and quality of local candidates prepared for energy and advanced manufacturing careers. Northland provides for-credit, certificate, and degree programs as core offerings through its educational partners, SUNY Alfred State College and SUNY Erie Community College, incorporating evidence-based placement strategies, such as co-ops, apprenticeships and internships, and an emphasis on permanent employment.

Northland Workforce Training Center (“WTC”) is uniquely designed to reduce all the major barriers that prohibit students from enrolling and completing post-secondary education such as transportation, childcare, academic readiness, and affordability. Northland Workforce Training Center is committed to providing for-credit education at little to no cost to all individuals with financial needs and supporting students throughout the process by providing intensive wraparound and supportive services.

The WTC hosts roughly 300 annual participants, of which at least 90% are low-income people or residents of the surrounding low-income community. At the WTC, students train for entry-level operator jobs in

machinery, welding, and other positions. Program managers help graduating students secure unionized positions at the local electric utility and other manufacturing companies. The WTC targets high school graduates, current workers who seek to improve their skills, and members of high-distress communities. It also works in partnership with local community and faith-based organizations and public agencies to coordinate wrap-around services, such as GED-support, transportation assistance, child-care assistance, and other soft skills for participants in the training program.

Buffalo Manufacturing Works (“BMW”), one of the building tenants, partners with at least 100 businesses annually. These partnerships allow businesses working with BMW to deliver better products, grow, and better compete. The project created and retained 191 quality jobs paying the City of Buffalo’s Living wage with benefits at financial closing.

Buffalo Urban Development Corporation, the project sponsor, pledged to recruit up to 20 individuals into the Buffalo Building Trades Pre-Apprenticeship Program for the City of Buffalo. The pre-apprentices are provided paid instruction in a trade of their selection and a direct entry into selected trade upon completing the program.

300

Annual Participants

90%

Low Income Individuals

100

Business Partnerships Annually

191

Quality Jobs Created Annually

20

Individuals in Buffalo Apprenticeship

NTCIC & Progress

Economic Impact

The Northland Workforce Training Center was made possible, in part, by NTCIC through an equity investment in the $18.2 million in federal Historic Tax Credits (HTC) and $5 million in state Historic Tax Credits (HTC) generated by the project as well as a $5 million New Markets Tax Credit (NMTC) allocation.

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Historic Tax Credits

$900,000 Federal

New Markets Tax Credits

$1.2 Million

Total Project Cost

$5.7 Million

Project Partner

Shiawassee Chamber of Commerce

Impact

Rural Investment

Constructed in 1915
History

Constructed in 1915

The Owosso Michigan National Guard Armory was constructed in 1915. During World War I, Company M deployed from the Armory for France. These soldiers took part in the Battle of Argonne-Seuse and were among the first American troops to set foot on German soil during the war. By mid-century, the Armory was home to the 144th National Guard unit. In addition to housing the 144th, the Armory served as a community space by hosting debates, prize fights, weddings, and artists including Grand Funk Railroad and Alice Cooper. In 2007 the 144th left the nearly century-old building for a modern facility and the Armory has been vacant since. The Armory is located in the Owosso Downtown Historic District.

Supporting the Local Economy
Revitalization Efforts

Supporting the Local Economy

The Owosso Armory project is led by the local community and designed to catalyze economic development. The idea for the project originated from within the Shiawassee Chamber of Commerce whose mission is to stimulate economic development in Owosso and Shiawassee County. The goal of the Armory is to create and spin out new businesses into the community by offering a range of office spaces including turnkey office spaces, cubicle-like spaces, and individual desks. Businesses who relocated to the Armory include the Shiawassee Chamber of Commerce (Chamber) and the Shiawassee Economic Development Partnership (SEDP), as well as nine other local business owners.

Community Impact

By the Community, for the Community

The project has received overwhelmingly strong support from the City of Owosso financially and organizationally. It was approved for a Brownfield Reimbursement Agreement that functions in a manner similar to a tax abatement; a “call to action letter” generated $12,000 in annual sponsorship income in under a month; the Michigan Strategic Fund provided a $1,402,000 grant under its Michigan Community Revitalization Program; and letters of support have been provided by Owosso Mayor Christopher T. Eveleth and State Rep. Ben Frederick of the 85th District.

The Armory serves as a hub to encourage small business development

and entrepreneurship. The Chamber, SEDP, and Kettering University made contributions to hire a part-time small business development counselor dedicated to supporting 70 people and helping start-up businesses secure over $700,000 in capital. The Chamber also hosts numerous networking and professional development to support young professional and members of the business community. Additional events at the community space include a winter farmer’s market, nutrition classes, dance classes, and a micro-business development class for teenage entrepreneurs.

NTCIC & Progress

Economic Impact

Without the capital made possible with the Historic and New Markets tax credits, this project would not have been possible. Prior to receiving tax credit commitments, the development team had exhausted all options in assembling public and private sources. The relatively small size of the project precluded the project from favorable historic tax credit pricing on a stand-alone basis. Despite the range of sources including funds from the Michigan Strategic Fund and a local bank, a financing gap persisted as the loan-to-value

calculation did not support additional debt financing for the unique office use and the sponsor had modest means to close the gap.

The Owosso Armory was made possible, in part, by NTCIC through an equity investment in the $900,000 in federal Historic Tax Credits (HTC) generated by the project as well as a $1.2 million New Markets Tax Credit (NMTC) allocation.

 

Want to Discuss Your Next Project? Talk With Our Team Today.

We bring clear insight, deep experience, and strategic focus to every project, whether you're structuring complex capital or shaping long-term, legacy-driven development.

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Want to Discuss Your Next Project? Talk With Our Team Today.