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Crescent Growth Capital, LLC

Crescent Growth Capital, LLC

Structuring project financing to incorporate tax credit equity.

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Community celebrates opening of Haven for Hope

April 14, 2010 by Crescent Growth Capital

San Antonio Business Journal – April 14, 2010

City and civic leaders have officially dedicated the new $100 million Haven for Hope campus in San Antonio.

After three years of construction, the 37-acre, 280,000-square-foot homeless facility is finally completed. Homeless individuals and families will start moving in later this month.

“Haven for Hope is a window on the soul of San Antonio,” says San Antonio Mayor Julián Castro. “It reflects our city’s strong sense of compassion and a belief in the power of an individual to transform himself or herself.”

Haven for Hope Chairman Bill Greehey praised the partnerships involved in making the campus a reality.

“This is one of the biggest public-private partnerships in San Antonio’s history, and it would not have been possible without the dedication, commitment and investment of countless individuals in both the public and private sectors,” Greehey says. “We are so grateful to the City of San Antonio, Bexar County and the State of Texas for dedicating funding, resources and other support. And we have been overwhelmed by the generosity of the hundreds of private donors who have helped us raise over $58 million, which puts us within $2 million of our fund-raising goal.”

SAMMinistries, one of the social service partners involved with Haven to Hope, will begin moving single men from its shelters onto the campus. About 10 men will move in each day for the first two weeks and then the numbers will ramp up after that. Women and families from other SAMMinistries shelters will begin moving onto the campus in early June. The entire campus is expected to be completely open to the public by mid-June.

“This is so important because we can’t solve the homeless crisis without everybody working together, and Haven for Hope is proof of the great things that can happen when the government and private sector work together toward a common goal,” Greehey says. “Together, we’re not just going to transform lives, we’re going to save lives.”

Filed Under: News Articles Tagged With: New Markets Tax Credits, Non-profits, Public-Private Partnerships, San Antonio, Social Services

Crescent Growth Capital closes books on first calendar year; over $180 million in tax credit financings during the course of 2009

January 28, 2010 by Crescent Growth Capital

Capping off its first calendar year of operations, Crescent Growth Capital closed seven transactions in December 2009, representing $95 million of New Markets Tax Credits financings. These end-of-year transactions, executed on behalf of entities in both Texas and Louisiana, brought CGC’s full-year total to over $180 million of tax credit financings.

“We feel fortunate to have had the opportunity to execute tax credit equity transactions on behalf of so many worthy entities this past year,” remarked Managing Director Eric Finley. “That we’ve been able to decisively contribute to helping realize better health outcomes, improved educational opportunities, and more effective social service delivery says a lot for the skills deployed by my colleagues, our consultants and the other parties to these complicated transactions.”

“Closing New Markets financings requires long-term collaboration across disciplines, and the flexibility to bend first one way, then another in the interests of getting across the finish line,” added Director Ryan Kenter. “Make no mistake, it’s a challenging business – but it’s truly fulfilling work.”

For more information, visit www.crescentgrowthcapital.com

Filed Under: Press Releases Tagged With: CDEs, Education, Healthcare/Wellness, New Markets Tax Credits, Project Sponsors, Social Services, Tax Credit Equity, Tax Credit Investors

Amidst severe national credit crunch, Crescent Growth Capital closes over $35 million in financings in first six months

April 6, 2009 by Crescent Growth Capital

With the successful closing in late March of a New Markets Tax Credit financing to establish St. Luke’s Medical Center within the former Little Sisters of the Poor facility on New Orleans’ West Bank, Crescent Growth Capital ends the first quarter of 2009 having structured $35 million of transactions incorporating tax credit equity in the six months since its founding.

“We are pleased to have received such a positive response from our colleagues in the industry in the months since we opened our doors, but we are still more satisfied with the assistance we have provided to Goodwill Industries and St. Luke’s in New Orleans, and to Neighborhood Centers, Inc. in Houston,” stated Managing Director Troy Villafarra. “Our helping to finance a new regional headquarters for Goodwill, a venue for additional medical services in Algiers for St. Luke’s, and a significant expansion of social services in Houston for Neighborhood Centers – all in the midst of severe uncertainty afflicting financial markets – speaks to the potency of the NMTC program.”

For more information, visit www.crescentgrowthcapital.com

Filed Under: Press Releases Tagged With: Adaptive Re-use, Healthcare/Wellness, New Markets Tax Credits, Social Services

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