Crescent Growth Capital, LLC
Structuring project financing to incorporate tax credit equity.
  • About Us
  • Your Project
  • Our Process
  • Our People
  • Past Projects
  • Home
  • Our Locations
  • Contact Us
  • News/Blog
Browse: Home / 2010 / January / 11 / St. Luke’s Medical Center

St. Luke’s Medical Center

By Crescent Growth Capital on January 11, 2010

4201 Woodland Drive; New Orleans, LA

St. Luke’s Medical Center was facing extinction, its existing nursing home destroyed by the flooding that engulfed New Orleans after Katrina’s passage. After St. Luke’s management successfully identified a new location for the facility, Crescent Growth Capital structured two transactions involving a total New Markets Tax Credit qualified equity investment of $13.8 million to generate a subsidy covering the shortfall in the project’s financing.

The project’s benefits are two-fold. St. Luke’s management team is regionally recognized for its experience and effectiveness, and New Orleans will reap ongoing benefits from an increase in the number of beds available for Medicaid recipients needing long-term nursing home care.

Additionally, St. Luke’s completion has established a significant new employer in New Orleans’ Algiers neighborhood. Algiers dates to the early 18th century but experienced most of its growth in the years following the completion, in 1958, of the first span of the Mississippi River Bridge. As is true for many suburban or suburban-style areas constructed in the 1950s and 60s, Algiers requires, in places, significant reinvestment. The inauguration of St. Luke’s Medical Center meaningfully abetted other ongoing economic development efforts in Algiers.




Posted in Past Projects | Tagged Adaptive Re-use, Healthcare/Wellness, New Markets Tax Credits, New Orleans

« Previous Next »

Categories

  • General
  • News Articles
  • Past Projects
  • Press Releases

Warning: Invalid argument supplied for foreach() in /home/cresce8/public_html/wp-content/themes/hybrid/library/classes/widget-tags.php on line 85

Adaptive Re-use Alabama Alabama State NMTC Alexandria CDEs Community Development Block Grants Cultural Economy Dallas Education Federal Historic Tax Credits Federal NMTCs Fresh Foods GO Zone Healthcare/Wellness Historic Preservation Historic Rehabilitation Houston Illinois State NMTCs Jackson Lafayette Live Performance Tax Credits Logistics/Warehousing/Transport Louisiana Cultural Districts Manufacturing Medically-Underserved Area Mixed Use Nebraska Nebraska State NMTC Nevada New Markets Tax Credits New Orleans Non-profits North Carolina Post-Katrina Recovery Project Sponsors Public-Private Partnerships Renewable Energy San Antonio Social Services State Historic Tax Credits State New Markets Tax Credits Tax Credit Equity Tax Credit Investors USDA Food Desert Virginia

Resources

  • Community Development Financial Institutions Fund
  • Louisiana State Division of Historic Preservation
  • National Trust for Historic Preservation
  • New Markets Tax Credit Coalition

Archives

  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008

New Orleans Office
201 St. Charles Avenue
Suite 4205
New Orleans, LA 70170
(504) 378-3470

Dallas Office
13355 Noel Road
Suite 1100
Dallas, TX 75240
(214) 746-5065

Copyright © 2022 Crescent Growth Capital, LLC. Web Design