New Markets Tax Credit, Brownfield Tax Credits, City and State
Sponsor
MCB Real Estate LLC
Private Financing
Opportunity Zone Equity and Debt Financing
Closing Date
2018
Opportunity Zone, Brownfield Remediation, Retail Development
Yard 56 I is a commercial component of a large-scale community masterplan including medical, hospitality and up to 370 units of workforce housing. The minority firm lead project is a catalytic remediation of an Opportunity Zone, brownfield site which will provide significant services to historically under-retailed and served community. Tenants include Streets Market, LA Fitness, Chipotle, and local retailers.
Estimated Economic and Social Impact
Over 125 jobs and 100 construction jobs. Fresh food provider.