New Markets Tax Credit Investments
France Road PortNew Orleans, Louisiana
CityScape Capital Group assembled the key tax credit equity financing for the $9.8 million France Road Port project located at 4010 France Road, New Orleans, LA.
Transportation Consultants, Inc. has successfully developed 200,000 square feet of warehouse and distribution center space and the installation of an integrated railcar unloading system on 27 acres of unimproved land acquired from the Port of New Orleans and adjacent to the 9th Ward. It is estimated that project created 30 new construction jobs and 50 new full-time permanent jobs while relocating another 115 full-time permanent jobs in a census tract with 22.2% poverty rate and 38.1% median family income.
The development complex includes the use of 10-to-15 acres serving as a containerized depot facility for Transportation Consultants, Inc. and another 4 acres serving as a distribution center for Triton Stone Group of New Orleans, LLC. A 150,000 square-foot warehouse facility was constructed to support both endeavors while 50,000 square-foot warehouse was constructed as a distribution center for a regional restaurant supply company. In addition, a New Orleans Public Belt railroad spur and railcar unloading system has been installed as part of the containerized depot facility for bulk railcar unloading.