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 / 2009 / May / 25 / Standard Life Apartments

Standard Life Apartments

By Crescent Growth Capital on May 25, 2009

127 S. Roach Street; Jackson, MS

Adaptive re-use of existing historic buildings is often the ace-in-the-hole of economically-distressed neighborhoods. Many of these were formerly prosperous districts which can now derive real competitive advantage through leveraging their existing stock of sturdy and distinctive historic structures.

The Standard Life Building in downtown Jackson, MS is a beautiful Art Deco skyscraper dating to 1929, for years abandoned and marooned within a highly-distressed census tract buckling under a 53.5% poverty rate and 21.3% unemployment. Hoping to spark the regeneration of the neighborhood, Crescent Growth Capital advised lead developer HRI Properties on a $17.5 million New Markets Tax Credit qualified equity investment that leveraged both federal and state historic tax credit equity to subsidize the conversion of the structure into 76 one- and two-bedroom apartments, with lower-floor retail.



Posted in Past Projects | Tagged Adaptive Re-use, Federal Historic Tax Credits, Historic Preservation, Historic Rehabilitation, Jackson, Mixed Use, New Markets Tax Credits, State Historic Tax Credits

« Previous Next »

Resources

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

Categories

  • News Articles
  • Past Projects
  • Press Releases

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 © 2023 Crescent Growth Capital, LLC. Web Design