Project Finance
HOME - Federal Block Grants for housing
HTC - Historic Tax Credits
LHTC - Low-Income Housing Tax Credits
NMTC - New Markets Tax Credits
At Next Street...
Cities are showing us what the future will be: instead of one culture, many cultures; instead of a mass market, many niche markets; instead of a business-school formula, a universe of dazzling experiments.
Recent transactions completed by the professionals of Next Street Capital span a wide variety of projects, partners, and sophisticated financing tools.
$100M Development of Affordable Housing and Community Retail - Washington, DC
Transformative NMTC project in a highly distressed area designated for redevelopment with two CDEs and government debt.
$43M Mixed Use Development with Retail & Charter School - Brooklyn, NY
Partnership with highly experienced real estate developer, local charter school operator and leading regional retailer with four CDEs, NMTCs and $24.8 million of market rate leverage debt.
$13M Mixed Use Development with Retail & Affordable Housing - Providence, RI
Redeveloped a former hotel into office space, restaurant, retail, art gallery, and 14 affordable apartments and 4 rental studios for low-income artists. Funding sources include New Markets Tax Credits, federal and state historic tax credits and Federal Home Loan Bank AHP funding.
$16M Mixed Use Development with Retail & Affordable Housing - South Providence, RI
This transaction transformed a long abandoned tire shop into 35 affordable retail apartments and 10,000 square feet of retail space. This project was financed by a mix of Low Income Housing Tax Credits, HOME Community Development Block Grant, along with several state and city funds.
$17M Adaptive Re-use of a Historic Manufacturing Facility Rehabilitation - Brooklyn, NY
Transaction involved NMTCs, HTCs, and hard and soft leverage debt with three CDEs
$10M Community Retail Facility - Bronx, NY
Over 50% of the building, adjacent to an affordable housing development, is leased to non-profit tenants that serve the local community. Building was nearly complete with minimal pre-leasing. Assisted project sponsor structure the transaction and attract a leverage lender, NMTC equity investor and required NMTC allocation. Financing allowed project sponsor to complete the build-out and lease-up of the project.
$6M Retail and Community Facility - Boston, MA
Partnership with local CDFI lender, real estate developer and bi-lingual early childhood education (one of building’s core tenants). Transaction involved NMTCs and soft leverage debt.
$9M Historic Affordable Housing Development - Cumberland, RI
The project involved the substantial renovation of several historic buildings and the construction of three new and historically compatible to the local Historic District in Cumberland, RI. This project was financed by a mix of Low Income Housing Tax Credits, Historic Tax Credits, HOME, Community Development Block Grant, Lead abatement, and Thresholds funds.
$14M Affordable Housing Development - Pawtucket, RI
A comprehensive neighborhood revitalization effort around a potential new commuter rail station. The project consists of 33 affordable rental housing units and over 4,000 square feet of community service facility space. Low Income Housing Tax Credits are the primary funding source, along with several federal, state and city sources.
$31M Rehabilitation of a Historic Theatre - Worcester, MA
Transaction involved four CDEs, two investment funds, NMTCs, HTCs, market rate leverage debt and soft leverage debt.
