New Markets Tax Credit Investments
Second Line StagesNew Orleans, Louisiana
Federal NMTC: $10,000,000
CityScape Capital Group assembled the key tax credit equity financing for the $45.2 million renovation of the Second Line Stages located at 1600 Annunciation Street in New Orleans, LA.
SLS Redevelopment, LLC has successfully completed the development of New Orleans' first large-scale, state-of-the-art film production facility. Consisting of two historic warehouses and a new 18,000-square-foot building, the facility contains 90,000 square feet of production and office space. It is estimated that the renovation project created over 200 temporary construction jobs and more than 1,200 new high-paying full-time permanent jobs in a census tract with 24.2% poverty rate and 11.8% unemployment rate.
In partnership with the Kingsley House, a local community organization, Second Line Stages also directs several community initiatives including educational programming for at-risk youth, apprenticeship programs, and neighborhood security and safety initiatives.
As the only Hollywood-quality film studio in the Greater New Orleans region, Second Line Stages plays an important role in New Orleans' expanding film industry. The SLS facility is designed to house an entire film production, and contains office space for crew, actors' dressing rooms, soundstages and a 49-seat digital screening theater. Second Line Stages is also the first full-scale LEED-certified production studio in the US.