FCLF Provides NMTC for Armature Works Tampa Project

05 June 2017

Florida Community Loan Fund closed its latest New Markets Tax Credit (NMTC) project this week: the $21 million Armature Works project in Tampa, which includes The Heights Market Hall and Gathering.

ArmWorks rendering2Highlights of this project include:

  • 68,000 sq ft renovation of historic building that was once storage & maintenance for streetcars
  • Indoor food hall and farmers market in USDA Food Desert
  • 20+ emerging small businesses provided with low rental rates and shared space with state of the art technology
  • 750+ jobs created or retained
  • On site job training, employment counseling, nutrition/healthy foods training

“Projects such as Armature Works are integral to the revitalization of the Tampa Heights Riverfront District and help extend needed development northward from downtown Tampa into adjacent neighborhoods,” said Nelson Black, FCLF Chief Lending Officer. “The Armature Works project will bring significant job creation, stimulate local business, and provide fresh food access in the community.”

Florida Community Loan Fund provided $20 million in NMTC allocation for the Armature Works project. U.S. Bancorp Community Development Corporation and USAmeriBank are investors on the project. The developer is SoHo Capital.

The New Markets Tax Credit, or NMTC, Program encourages economic development in distressed neighborhoods. To date, FCLF has been awarded $271 million in Federal NMTC allocation authority, financing high social impact projects totaling $490 million in project costs and providing 4,900 jobs in low-income census tracts.

Pictured above, rendering of Armature Works upon completion.
Below, Armature Works site construction progress; plans are to open in 2017.

To learn more about FCLF and Armature Works, click here.


About Florida Community Loan Fund. FCLF provides financing and technical expertise to improve low income communities in areas such as safe, affordable housing ‒ homeless & special needs facilities ‒ education & healthcare facilities ‒ commercial & retail space to encourage new local businesses ‒ access to fresh, healthy foods. For 20+ years, FCLF has helped over organizations in Florida achieve success in their projects and missions. FCLF is nationally recognized for its work as a certified CDFI and CDE through the U.S. Department of Treasury and as a member of the Federal Home Loan Bank of Atlanta. FCLF has financed $278 million through 260 loans in Florida, making possible over $877 million in new investments in low-income communities. We look forward to continuing to build strong communities in Florida through NMTC and other projects that provide high impact in low-income areas. 

ArmWorks aerial

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Griffin Heights

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Third Federal Savings

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BankUnited

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Boys & Girls Clubs of Manatee County

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CenterState Bank

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TD Charitable Foundation

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Cade Museum for Creativity & Inventi…

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Wright's Natural Market

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Woodlawn Community Academy

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BBVA Compass

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Fathers Table Foundation

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Trinity Health

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Aida Palms

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FCLF Staff meet and greet friends at an FLACDC event.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
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FCLF projects create jobs and stimulate development in low-income communities.
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FCLF staff with local supporters at Metropolitan Ministries Tampa.
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FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
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Rep. Ander Crenshaw visited KIPP Jacksonville School
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DuPuis Pointe offers affordable, hurricane proof homes in Miami.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income communities.
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FCLF at Florida Housing Conference
FCLF Staff are on hand at conferences and events to discuss our programs.
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FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
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FCLF representatives are ready to talk about your project success.
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Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
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Boys & Girls Clubs of Manatee
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
RCRI Conference 2012
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Neighbor Up and FCLF
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
Emma Jewel Academy and FCLF
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
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Greater Heights Resident
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
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Housing Programs, Inc.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
Boys & Girls Clubs of Manatee
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
TD Charitable Foundation, TD Bank
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FCLF Board and Staff
FCLF Board Members represent our investors, borrowers, and technical experts.
TD Bank Charitable Foundation
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
Armature Works
FCLF and the NMTC Program renovated a historic building into a small business incubaor.
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Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.