New Markets Tax Credit Investments
Hub City LoftsHattiesburg, MS
Federal NMTC: $6,000,000
CityScape Capital Group assembled the key tax credit equity financing for the $13 million adaptive re-use of four historic, blighted buildings along the East Front Cheap Replica Watches TAG Heuer Street corridor in downtown Hattiesburg, MS.
Isis Development, LLC is rehabilitating four historic buildings into a market-rate apartment community consisting of 55 rental apartment units, 12,906 square feet of ground floor commercial space, and 43 adjacent parking spaces. It is estimated that the renovation project will create at least 80 temporary construction jobs and more than 50 new full-time permanent jobs in a census tract with 53% poverty rate, 36.1% median family income, and 15.7% unemployment rate.
The two sets of historic buildings are located approximately 220 feet apart on East Front Street, in the heart of downtown Hattiesburg. The rehabilitated buildings will offer a mixture of studio, one, and two bedroom units with a ground floor retail component that will include 1,275 sqft of commercial space cheap replica Cartier watches dedicated to the City of Hattiesburg who will offer children educational programs focused on the arts, reading, science and entrepreneurship. The restoration of these blighted buildings is expected to catalyze additional development in the downtown Hattiesburg.