• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Crescent Growth Capital, LLC

Crescent Growth Capital, LLC

Structuring project financing to incorporate tax credit equity.

  • About Us
  • Our Process
  • Our People
  • Past Projects
  • Contact Us

Career Training

University of the Incarnate Word – School of Osteopathic Medicine

January 8, 2018 by

The population of Texas is growing at a meteoric pace, severely straining the state’s healthcare system. As of the 2010 Census, Texas ranked 47th out of 50 states in the number of primary care physicians per 100,000 inhabitants (70.0 per 100,000 as of the 2010 Census). This figure conceals an even worse reality for South Texas. Remove Bexar County (San Antonio) from regional physician counts, and the South Texas region is left with a rate of primary care physicians per capita nearly half again as worse (43 per 100,000) as the statewide figure. Furthermore, only 10% of physicians in Texas are Hispanic, while 40% of the overall population is so classified, making for inadequate cultural competency and poorer care outcomes.

The University of the Incarnate Word decided to tackle this serious and worsening problem by founding a new medical school. The new school’s osteopathic curriculum is based on the recommendations of the Carnegie Foundation’s Educating Physicians for the 21st Century report, which outlined four goals for medical education: standardization of learning outcomes and individualization of the learning process; integration of formal knowledge and clinical experience; development of habits of inquiry and innovation; and, focus on professional identity formation.

Where to locate this needed new institution? As chance would have it, an especially attractive facility to house the new school was on offer: the historic, recently-vacated campus of the former USAF School of Aerospace Medicine at the decommissioned Brooks Air Force Base. After successfully sourcing NMTC allocation and closing on two previous projects for the university, Crescent Growth Capital was hired again by UIW, this time to attempt a combined federal New Markets Tax Credit and Texas Historic Preservation Tax Credit financing to help fund the university’s School of Osteopathic Medicine.

In December, 2016, Crescent and UIW closed on a $6 milllion NMTC financing for the new medical school, utilizing allocation provided by Enhanced Capital and NMTC equity provided by Wells Fargo. Thirteen months later, Crescent delivered $1.65 million in Texas state historic tax credits to Enhanced Capital, having authored Parts A, B and C of the Texas Historic Preservation Tax Credit application and collaborated with the San Antonio Office of Historic Preservation to have the National Park Service certify SA OHP’s School of Aerospace Medicine local historic district. The completed rehabilitation restored the 1963 main building’s deleted courtyard entry on the south elevation and leveraged its mid-century modern design to create an appealing, contemporary home for the new school.

With its School of Osteopathic Medicine, the University of the Incarnate Word is now positioned to pursue its long-range goal of increasing the number of osteopathic physicians beginning their practice by at least 145 per year, helping to ameliorate the severe regional healthcare supply deficit. UIW will enroll 150 students per class, a significant share of whom will be Hispanic; graduates of the four-year program will receive the “Doctor of Osteopathic Medicine” degree (D.O.).

New Orleans Culinary and Hospitality Institute

December 28, 2017 by

New Orleans Culinary and Hospitality Institute (NOCHI) was established for the purpose of marrying world-class culinary & hospitality facilities, content and programming with New Orleans’ indisputable standing as a world-class culinary & hospitality city.  Beyond providing traditional training, education and R&D in the fields of culinary arts and hospitality, NOCHI aspires to elevate New Orleans to a position of thought leadership across multiple disciplines that intersect with food/hospitality for the purpose of creating rewarding careers and improving quality of life for its local citizens and the larger global community.

In 2014, NOCHI purchased the former ArtWorks building with the intent to renovate it into a state-of-the-art workforce training facility.  The concept of a culinary and hospitality training facility was developed in response to two alarming trends in New Orleans: a shortage of trained restaurant staff, and high rates of both non-employment and underemployment, particularly among African-Americans—e.g., a 2013 study conducted by the Lindy Boggs Center for Community Literacy at Loyola University reported that 52 percent of African American working age men in New Orleans are not working.

In December, 2017, CGC and NOCHI closed on a $19M financing to renovate the ArtWorks facility, utilizing NMTC allocation provided by United Fund Advisors and Enhanced Capital, and a NMTC equity investment provided by Iberia Bank.  The 93,000 sf facility will house a wide variety of programming, including Culinary Training Program, Workforce Training Programs, Enthusiasts Courses and Community Programming as well as Tulane’s Freeman School of Business new Hospitality Entrepreneurship programming.

As part of a cooperative endeavor agreement with New Orleans Convention Center, NOCHI is mandated to provide subsidized workforce training to between 100-500 students annually.  These programs will range from “standardized” programs for industry-wide needs to employer-based custom training programs that NOCHI would help develop and execute.

Beyond the subsidized training they receive, NOCHI students will be able to take advantage of the school’s Educational Advisory Board, comprised of a wide representation of the local hospitality industry, who will oversee the customization of the curriculum to meet the needs of different types of participants, as well as of prospective employers, by adding field trips, job shadowing, guest speakers, and/or internship opportunities that can be arranged within less than a mile of NOCHI’s location.

Furthermore, NOCHI students will also be able to leverage NOCHI’s ties to the local hospitality industry to find a new position after graduation.  While NOCHI’s facilities will provide for hands-on food and beverage learning lab space, the school’s proximity to hundreds of hotels allows for convenient access to real-world learning “lab” spaces for other hospitality positions.

Mesquite Library

December 20, 2017 by

Crescent Growth CApital (“CGC”) and the Las Vegas-Clark County Library District (“LVCCLD”) are pleased to announce the closing of a $10M NMTC financing, using allocation provided by the Clearinghouse CDFI, and a NMTC equity investment provided by Chase Bank.  This new library project is one of LVCCLD’s new model libraries, aimed at providing a broad swath of community services and bringing the library into the 21st century.

The new 16,000 sf Mesquite Branch Library of the Las Vegas-Clark County Library District lies in the heart of the rural community of Mesquite, population 17,059, located in Clark County, an 8,000 square mile county in southern Nevada.  The community is 82 miles from Las Vegas NV, 20 miles from the Arizona border, 40 miles St. George UT, and 35 miles from the Paiute Reservation in Moapa, NV.  Mesquite serves as a regional center for many functions.  Children from nearby Arizona towns attend Mesquite’s Clark County School District schools.

Mesquite has been designated a priority need area for city, state and regional economic development and workforce agencies.  The library site is located on the only CDBG block in Mesquite.  The site is located within the City of Mesquite-designated Enterprise Zone and is in a rural area identified by Workforce Connections, the southern Nevada agency for employment, business and career support, as high need/low resource.  Workforce Connections has provided a full-time onsite staff person to start-up and expand employment, business and career development services to scale when the new facility comes on line.  Plans are now in progress to combine federal education, labor and library resources to conduct specific job training and OneStop services from this facility, along with English language instruction and citizenship.

Workforce Connections will provide staff, instruction and career coach expertise.  The Library District will provide public access computers, laptops, Internet, Wifi, printers, scanners, copiers, and other office equipment, as well as a wealth of physical and virtual materials, information sources, databases and apps that support economic development and education. Once complete, the project will give the public access to a new community meeting room, consultation and study rooms with monitors, computer and instruction labs, and access to physical materials and virtual resources that ultimately make this library facility a community hub for economic, education and social well-being.

In this way, this project will prototype a new library model that combines free public access to technology and services for learning, training, making, entertaining, and gathering.  It will also prototype a new kind of intergovernmental collaboration.  As indicated above, the facility will integrate local, county, regional and state services for workforce, education, social services, citizenship, and libraries.  Services provided free to the public here will support OneStop workforce services; small business development support; social service and government agency connections; early childhood development; parent engagement; student support such as homework help; English language, High School Equivalency, and literacy instruction; public computer, Internet and Wifi access; community and cultural events; and job training and certification programs related to the early childhood education sector.

This project will create an estimated 7 positions, while retaining another 15 existing positions.  Full-time Mesquite library employees will receive a full set of benefits, including health insurance and retirement (Nevada PERS), which is valued at roughly 30% of salary.  Full- and part-time employees are covered by Worker’s Comp.

East Last Vegas Library

July 26, 2017 by

The Las Vegas-Clark County Library District (“LVCCLD”) currently serves 1.5 million people over 8,000 square miles—an area larger than the state of Connecticut. Despite its broad reach throughout the Las Vegas area, in early 2016, the LVCCLD issued a new strategic plan, “Vision 2020,” aimed at modernizing its libraries to adapt to the new digital world.

With the tagline “We don’t library like we used to,” LVCCLD’s Vision 2020 plan aims to give the District the flexibility to adapt quickly to a changing digital landscape by implementing new layouts, technologies, methods of communication, and models of service in all its existing and new libraries.  They recognized that, on the one hand, libraries are being urged to go national and international as a platform for digital content creation and exchange.  On the other, libraries are urged to be a bridge for local social, economic and education connections that are critical to well-being and to be local hubs for learning, creativity and community engagement.

Vision 2020 has become a guide for deploying library assets – virtual and physical – in ways that advance and amplify the talent and vitality of the region, making even more people successful, happy and engaged in learning, discovery, achievement.  In an area that is coping with a plethora of post-recession challenges such as affordable access to food, housing, clothing, employment and education, the new LVCCLD library will address each of these issues by focusing on the four pillars of the Vision 2020 model: Limitless Learning, Business & Career Services, Government & Social Services and Culture & Community.

The new 40,000 sf East Las Vegas Library will be the model for all Vision 2020 libraries going forward.  The building’s open layout will give the Library the flexibility to adapt to the changing needs of the community, while providing a wide array of resources and services including traditional and digital literacy programming, parenting support, early childhood development services, school readiness, K-12 academic support, out-of-school learning, making, STEAM activities, entrepreneurship, career pathways, employment search and training, access to computers and Wifi hotspots, English language and citizenship instruction, digital media production, and space for cultural performances and community celebrations.  The concept for the new facility is the result of a long and collaborative partnership between LVCCLD and the surrounding community: a series of community outreach meetings yielded a number of new library features which were incorporated into the design.  These new features, unfortunately, increased the project budget from $18M to $22.6M, leaving a $4.6M funding gap with no readily available source of funding.

In July, 2017, CGC and the Las Vegas-Clark County Library District Foundation closed on a $17M NMTC financing, utilizing NMTC allocation provided by the City of Las Vegas through its CDE, Las Vegas Community Investment Corporation, and NMTC equity provided by Capital One.  The NMTC subsidy generated by this financing was sufficient to close funding gap and round out the development budget for the new East Las Vegas Library branch.  The new facility is expected to create up to 400 construction and 8 new, permanent FTE positions, while retaining the existing 38 employees.

Family Service Association – The Neighborhood Place

December 15, 2016 by

Family Service is a nationally accredited, private, non-profit, non-sectarian agency funded by the United Way, and operating under fee-for-service contracts with a number of San Antonio’s largest outreach programs, including the Assistance League of San Antonio, the Alliance for Children and Families, and the Methodist Healthcare Ministries.

Family Service provides high quality services on more than 60 school campuses, in 8 agency offices, and within client homes.  For the past 110 years, Family Service has been characterized by four traits that drive all agency programs and services: (1) an abiding dedication to families; (2) innovative research-based approaches; (3) responsible fiscal management; and (4) collaboration with community stakeholders.

Family Service has been a leader in San Antonio’s impoverished communities for decades, providing a full continuum of life supporting services including behavioral health counseling, crisis counseling, youth development, school & community engagement programming, workforce and financial empowerment, child care resource and referral, and Head Start early childhood education.

Family Service has been recognized by both Federal and State organizations as a leader in the implementation of evidence-based models, including, but not limited to the SAMHSA Science to Service Award, Best Practices Award Winner as well as serving as a research host site for multiple national level evidence-based curricula, including Multi-Dimensional Family Therapy, ACC/ACRA, Families and Schools Together, Parents as Teachers, Nurturing and Strengthening Families.  Family Service is one of only ten nationally accredited child care resources/referral service centers and the only one in the state of Texas.

Located in the former H.K. Williams Elementary School, the repurposed Neighborhood Place is a collaborative community concept providing a comprehensive array of more than 40 programs and services designed to address troublesome community needs and improve outcomes for children and families.

The facility also represents a new and unique model for revitalizing an impoverished urban community, by focusing on services that strengthen families.  The multi-tiered collaboration at the Neighborhood Place leverages resident leadership and public-private partnerships to deliver program services that help families work, earn, and save their way toward self-sufficiency.  This model places a specific emphasis on improving the overall health of children within the family, through programs aimed at stemming child abuse, providing healthy food alternatives, and helping families better prepare children to succeed in school.

In 2014, more than 60 organizations utilized The Neighborhood Place to provide a diverse array of services to the community, including the City of San Antonio, VITA tax preparation services, H.E.B., Texas Veterans Commission, Twogether in Texas, Texas A&M, UT San Antonio, Positive Choices, Odyssey, Antioch Baptist Church, Bexar Area Agency on Aging, UT Health Science Center,  Project MELD, Boystown, Immaculate Conception, Girls Inc., KLRN, Texas Council on Family, Superior Health, Holy Cross, Ballet Folklorico, AVANCE, Hispanas Unidas, Girls Scouts, Head Start, Alliance for Veterans, etc.

The majority of the people who visit The Neighborhood Place each year come from the surrounding neighborhoods, which are predominately Latino, and are extremely impoverished: 32% of all residents, and nearly 44% of households with children, live below the federal poverty line.  Among adults in the targeted zip codes, fully 47% do not have a high school education.

Despite all the programs and services Family Service Association provides out of The Neighborhood Place, the facility was in drastic need of repairs, including an upgraded HVAC system, asbestos remediation, electrical upgrades, additional restrooms, security, as well as upgrades to parking, flooring and perimeter fencing.

In December, 2016, CGC and Family Service Association closed on a $6M NMTC financing to provide the financing necessary to renovate The Neighborhood Place, utilizing NMTC allocation provided by Enhanced Capital and Wells Fargo.

Los Barrios Unidos – Family Health Center

December 22, 2015 by

The mission of Los Barrios Unidos Community Clinic (LBUCC) is to proudly provide quality care to all people, creating a safe, affordable, and accessible healthcare experience. In 1972, the residents of several West Dallas neighborhoods united to open a community clinic in a portable building to serve a population disenfranchised from the economic and social services of the city due primarily to language and cultural differences.

LBUCC has flourished tremendously since its opening. 93% of LBUCC’s 21,000 patients are Hispanic and 74% are uninsured. Nearly 30 clinicians provide 70,000 patient visits each year.  Patients are drawn from all parts of Dallas County although West Dallas, Oak Cliff and Grand Prairie are the core market areas. LBUCC proudly provides top-notch care to all people regardless of race, ethnicity, place of residence or even the ability to pay.

There is no shortage of need for affordable primary care in Dallas County, which is the second largest Metropolitan area in Texas in terms of size and population , and ranks ninth in the nation.  18.7% of Dallas County’s 2,368,139 residents or over 443,000 individuals live below 100% of the Federal Poverty Level (Census 2010).

In late 2014, Los Barrios Unidos engaged Crescent Growth Capital to facilitate the NMTC financing of its new Family Health Center, a new 21,400 square foot clinic offering 15 exam rooms, 3 open Team Stations with 4 modular workstations each, a large ground floor laboratory, a phlebotomy area, a massive 75-seat waiting area and plenty of storage.

In December, 2015, LBUCC and CGC closed on a $7MM federal NMTC financing, providing the funding necessary to construct the Family Health Center, using NMTC allocations provided by Primary Care Development Corporation and Capital One Bank.  The NMTC subsidy drastically reduced LBUCC’s cost of capital, greatly reducing the ongoing debt burden for a non-profit FQHC whose patient base is nearly 3/4’s uninsured, while creating 24 new FTE jobs in one of Dallas’ most impoverished areas.

 

  • « Go to Previous Page
  • Page 1
  • Page 2
  • Page 3
  • Go to Next Page »

Learn more about our process.

Our Process

Contact Us

Footer

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

KNOXVILLE OFFICE
1400 Kenesaw Avenue
Unit 11R
Knoxville, TN 37919
504.495.4060

SAN ANTONIO OFFICE
100 W. El Prado Drive
Unit 301
San Antonio, TX 78212
210.355.3313

Copyright © 2025 Crescent Growth Capital, LLC · Privacy Policy · Web Design