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

"We're thrilled to partner with FCLF to make our project a reality to serve generations of kids in our community." – Dawn Stanhope, President & CEO

Boys & Girls Clubs of Manatee County

"FCLF understands and is a part of what we are doing: helping families have the American dream of owning a home." – Isaac Simhon, Executive Director

Housing Programs, Inc.

“Thanks to FCLF we’re able to provide brand-new safe, affordable homes for 90 families in a sustainable mixed-use, mixed-income community." – Mitchell Rosenstein, Founder & Principal

Green Mills Group

“We cannot thank FCLF enough for this partnership, creating permanent housing for our neighbors in need, and their commitment to Florida communities.” – Shannon Nazworth, President & CEO

Ability Housing

"Our partnership with FCLF allows us to build an attractive, state of the art facility that patients, staff, and community will be proud of." – Bakari Burns, President-CEO

Orange Blossom Family Health

"Aida Palms will be a lasting asset to the City of Lakeland. This revitalization wouldn't be possible without financing partners like FCLF." – Mitchell Rosenstein, Principal, Green Mills Group

Aida Palms

"It is really working. FCLF is really touching low-income people." – Florida Community Loan Fund Founding Board Member

Sister Mary Heyser, RSHM

"Thanks to FCLF, we are one step closer to providing a permanent housing solution for veterans and others seeking quality housing at an affordable price." – Carrie Davis, Executive Director

Wealth Watchers

"FCLF has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

"When nobody else would take a chance on us, FCLF did. Woodlawn is thriving today and we will always be grateful for your part in that.." – PeterTollefson, Dean of Students

Woodlawn Community Academy

“FCLF will help us have significant ongoing impact in West Lakes as we help families set roots in this community.” – Camille Reynolds, Executive Director

Hannibal Square CLT

"FCLF demonstrates a mission-oriented philosophy that is compatible and supportive, broadens our platform and deepens our portfolio of products and services." – Kent Adcock, CEO

Habitat for Humanity of Lake-Sumter

"I appreciate FCLF for lending in rural areas, where many other lenders are exiting. From the first moment we spoke with FCLF staff, we felt we had a partner." – Jamie Kerr, President, AMCS Dev.

Griffin Heights

"We appreciate the accomplishments your organization attains." - Robert Sucher, Executive VP

Sabadell United Bank

"FCLF was instrumental in making this important project a reality, bringing us one step closer to ending chronic homelessness in Miami-Dade County." – Dr. Paul A. Ahr, President & CEO

Camillus House

"I recommend FCLF for attracting investment to the Florida Preservation Fund... I believe that says something about investor comfort." – Nancy Muller, Policy Director

Florida Housing Finance Corp.

"We couldn't achieve our mission of creating strong neighborhoods without FCLF's help. Their staff is always friendly, quick to respond, and efficient." – Bonnye Deese, Executive Director

BAND

“FCLF addresses local community needs, which aligns with our core values. We appreciate your commitment to our communities.” – Mellissa Slover-Athey, Comm Reinv Ofcr

CenterState Bank

"We are delighted to partner with you to serve those most in need in our communities." – Eileen S. Coogan, President & CEO

Allegany Franciscan Ministries

"FCLF is a difference maker! Their team provides solutions to bring about real change in a community." – Tim Marks, President & CEO

Metropolitan Ministries

Our Partners

ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
Neighbor Up, Affordable Housing
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Housing Programs, Inc.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income communities.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
KIPP Jacksonville
Rep. Ander Crenshaw visited KIPP Jacksonville School
duPont Fund and FCLF
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
Axiom Bank
Support from Axiom Bank helps FCLF build strong communities.
Valley Bank
Support from Valley Bank helps FCLF build strong communities.
Greater Heights Resident
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
Metro Min Grand Opening
FCLF staff with local supporters at Metropolitan Ministries Tampa.
RCRI Conference 2012
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
MTZ Carver Construction
FCLF projects create jobs and stimulate development in low-income communities.
FCLF Board and Staff
FCLF Board Members represent our investors, borrowers, and technical experts.
DuPuis Pointe Miami
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
Emma Jewel Academy and FCLF
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
FLACDC Conference
FCLF Staff meet and greet friends at an FLACDC event.
Boys & Girls Clubs of Manatee
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
Northern Trust Roundtable
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
TD Bank Charitable Foundation
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
FCLF at Florida Housing Conference
FCLF Staff are on hand at conferences and events to discuss our programs.
BNDC Greater Heights
Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
Neighbor Up and FCLF
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
Mathis Place Resident
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
Armature Works
FCLF and the NMTC Program renovated a historic building into a small business incubaor.
TD Charitable Foundation, TD Bank
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
FCLF and Florida Housing Coalition
FCLF representatives are ready to talk about your project success.
Boys & Girls Clubs of Manatee
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
Emma Jewel Charter Academy
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
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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.