New Markets Tax Credit Investments
Northgate Retail CenterBaton Rouge, Louisiana
CityScape Capital Group assembled the key tax credit equity financing for the $12.7 million development of the Northgate Retail Center project located at 3260 Highland Road in Baton Rouge, LA.
Campus-Northgate, LLC has successfully completed a new retail center consisting of four single-story concrete buildings totaling 31,085 square feet of retail space plus a surface parking lot consisting of 209 parking spaces. The retail center is centrally located in the heart of Louisiana State University's campus in Baton Rouge, LA, and will be targeted to nearby college students. It is estimated that the project created 125 new construction jobs and 100 new full-time permanent jobs in a census tract with 36.5% poverty rate, 48.5% median family income, and 9.4% unemployment rate.
The Northgate Retail Center has helped to address an increased demand for retail goods, services, and community healthcare in the area around the LSU campus. In fact, the retail center directly supports several new large-scale student housing developments which have been built in the immediate area. The Northgate Retail Center transformed a blighted empty lot into an important asset for the LSU area community.