2021 Metro QLICI of the Year Award Recipient
The Multi-Assistance Center at Morgan’s Wonderland
CDEs: DV Community Investment, PeopleFund NMTC, LLC and CCG Community Partners, LLC
Developer and Owner: The Multi-Assistance Center at Morgan’s Wonderland
Location: San Antonio, Texas
Three CDEs–DVE Community Investment, PeopleFund NMTC LLC and CCG Community Partners LLC–provided a combined QLICI of $22 million to help finance the Multi-Assistance Center (MAC) in San Antonio, Texas. The Multi-Assistance Center is the new construction of a 165,000-square-foot property that will serve as a one-stop service center to coordinate care for low-income special needs individuals and their families in an area with a 31.7% poverty rate.
Of that space, 109,000 square feet will be leased for medical, social and community services and the additional 56,000 square feet will be common areas. More than 40 nonprofit and for-profit service providers will join in a common mission. The property will provide 375,000 visits when it is at full operation, providing about 40,000 unique special needs individuals with services that include medical, care coordination, community and support. More than 75% of the individuals served are expected to be low-income residents and 65% are expected to be members of minority groups.
The NMTC funding (DV Community Investment provided $9 million in NMTCs, PeopleFund NMTC LLC provided $8 million and CCG Community Partners LLC provided $5 million) allows MAC to offer tenant and service providers leas relates about half of the market rate. The NMTCs supplemented a capital campaign and provided credit support.
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