Nonprofit Offices & Residential - NoMa
BP serves as the development consultant for a nonprofit on its development of a new shelter to assist families (particularly low-income families) experiencing domestic violence. BP identified the site, assisted in obtaining acquisition funding and is involved in all aspects of pre-construction planning for the new development. BP is centrally involved in identifying sources of funds including conventional debt, New Market Tax Credits, grants and local “C-PACE” funding related to sustainable energy improvements.
Once complete, the facility will provide safe and supportive housing for as many as 700 survivors and their families each year, almost doubling the organization’s capacity to offer short-term housing for those in crisis. In addition to the shelter, the new facility will offer 16,800 square feet of nonprofit space. The $23 million dollar project will be financed by New Market Tax Credits, a $2.5 million dollar grant, permanent loan financing and a C-PACE loan.