Barnett Center for Innovation
The Barnett Center for Innovation, is a Chase Bank anchored $50 million historic and New Markets Tax Credit development project, reactivating an 18 story Landmark and vacant former Bank building in the central business district of downtown Jacksonville, Florida.
Urban Trust Capital advised on the $8.1 million of historic and the $6.6 million of New Markets Tax Credits. Along with the historic preservation of the building, a new mixed use program, including a downtown location for the University of North Florida’s School of Business, the One 12 Collaborative a business Incubator tenant and a Florida SBDC office, and approximately 110 residential units and supporting retail uses will be developed as part of this unique catalytic driver for downtown Jacksonville.
The Thompson Building
Hot Springs, AR
The Thompson Building project is a rehabilitation of one of Arkansas’s landmark historic buildings in the Central Avenue Historic District of Hot Springs, AR by TKZ, LLC, Urban Trust repeat clients in Hot Springs, AR.
The Thompson Building has been renovated into The Waters a boutique hotel with an Ascent flag and opened in January 2017. The $9.8 million project generated $1.8 million in historic tax credits.
An $18.5 million renovation of a 93,000 square foot 1910 Historic Wilson-Jones Loose Leaf Company building (“Building”) located in the East Garfield Park neighborhood of Chicago, IL as a Charter School.
Urban Trust secured and placed the $2.1 million of historic tax credits for L.E.A.R.N. and assisted in coordinating the historic tax credit investment with the New Markets Tax Credit team.
Swift Mill Lofts
$6 million historic rehabilitation for Phase One of the historic 1891-1941 Swift Mill Complex in Columbus, Georgia.
Urban Trust placed the $1.2 million in federal historic tax credits and the $300,000 in State historic tax credits with a Georgia closely held corporation for the 60 unit rental apartment project.
A $3.5 million historic rehabilitation of a former Belk’s Department store in Milledgeville, Georgia. In addition to placing the $737,000 in federal credits and the $300,000 in State credits Urban Trust arranged the bank financing for the client and managed the construction and development of the project through an affiliated company.
Hot Springs, AR
A $3.8 million rehabilitation of a 1920’s National Landmark Bathhouse in Hot Springs, AR. The Quapaw is one of seven historic landmark bathhouses on Bathhouse Row in the Hot Springs National Park and the downtown Central Avenue Historic District.
Grandfathered as a 25% historic tax credit the Quapaw has been rehabilitated as a SPA. Owned by the National Park Service a pass-through lease structure was used to lease the Quapaw to local developers and generate the $923,000 in historic tax credits.
Carnegie Marriott Courtyard
A $30 million rehabilitation of a 1920’s office building located in downtown Atlanta, GA into a 155 room Hotel Indigo.
Urban Trust is providing historic and New Markets Tax Credit services for the developers. The $3 million in historic tax credits were placed with a Fortune 500 company.
Eastside Loft Apartments Phase II
Little Rock, AR
Phase II of a historic high school rehabilitation into 34 one and two bedroom affordable and market rate apartments in Little Rock, AR. The $9.5 million Phase II project included the renovation of the high school auditorium, which generated $2.5 million of Low Income Tax Credit equity and $1.1 million of historic tax credits.
Urban Trust provided its non-profit tax credit financial advisory services to the Arc Arkansas, a nonprofit organization that provides services and affordable housing to individuals with disabilities and their families. The Eastside project is designed to a “universal design concept” standard so that all units are accessible for the disabled.
Old Town Holiday Inn and Suites
Urban Trust provided its tax credit advisory services for the rehabilitation of the Old Town Bank building into a 70 room Holiday Inn and Suites in downtown, Baltimore, MD.
The $11.9 million renovation generated $1.9 million in federal historic tax credits and $840,000 in Maryland state credits. Urban Trust assisted in structuring the tax credit transaction, negotiated the investment price, terms and tax credit equity with investors and assisted in closing the transaction.
20 West Adams
A $9.9 million rehabilitation of a 1911 former Drug Company Building in downtown Jacksonville, FL. One of the few buildings constructed in Florida during the first two decades of the twentieth century to reflect design elements of a new commercial high-rise style referred to as the Chicago school, and identified as the forerunner of the modern skyscraper.
Urban Trust provided its services for the financial structuring of the project and secured the $1.6 million of historic tax credit equity.
A $7 million redevelopment of a former railroad hotel in Waycross, GA for downtown corporate office and retail uses. The Phoenix is a Waycross Downtown Development Authority owned property leased to a for-profit entity and managed by the Authority’s for-profit subsidiary.
In addition to securing $1,097,258 in federal tax credit equity investment for the Authority client Urban Trust assisted in the legal and financial structuring of the deal.
A $3.6 million rehabilitation of two turn- of-the-19th century downtown buildings in Rome, GA’s Main Street District for 18 luxury loft residential units and retail.
Urban Trust secured $600,000 in federal tax credit equity for the private client.
The $5.2 million historic rehabilitation of a 10 story 1923 skyscraper in downtown Anniston, AL for professional office and retail. The project is a partnership between a local utility authority and local investors/developers and includes historic tax credits estimated at $1,100,000. Urban Trust is providing its full range of tax credit services for the client.
Five Points Theatre and Office Building
A $5.9 million rehabilitation of a 1920’s building for office, retail and an events center in Jacksonville, FL. Urban Trust was responsible for soliciting and receiving five bids for the tax credit investment and negotiating the $692,000 equity investment price, terms and formula.
Georgia Children’s Museum
$6.4 million three-phase rehabilitation of two historic buildings in downtown Macon, GA into a Children’s Museum and Events center for children. The Museum buildings are owned by a nonprofit, leased to a for-profit entity, and managed by the nonprofit’s for-profit subsidiary as a part of the structuring of the tax credit project.
Urban Trust provided a full range of structuring, financial analysis and Tax Credit services and secured the placement of $1,108,799 in Tax Credit equity from one of the nation’s largest financial institutions.
$2.2 million rehabilitation of an 1892 National Register 17 room boutique hotel in Washington, GA. Due to the small amount of tax credits the owners could not find an investor and turned to Urban Trust.
We secured an investor specializing in small historic rehabs for the $315,000 tax credit equity investment. The Fitzpatrick is featured on the national Trust for Historic Preservation website as a case study of a small historic rehabilitation investment.