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Portfolio Highlights: Community Lending

Portfolio Highlights: Community Lending

Expanding access to flexible capital for real estate development.

We believe everyone should have an opportunity to live in a healthy community with a safe place to call home, where they can work, go to school and know their neighbors. Since 1990, we’ve supported the creation of mixed-use, vibrant neighborhoods across the country by financing a broad spectrum of community development needs, ranging from multi-family and senior rental to special-needs housing and commercial development projects.

Stout Street Health Center and Renaissance Stout Street Lofts Denver, Colorado

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Stout Street Health Center and Renaissance Stout Street Lofts
Denver, Colorado

U.S. Bank, a longtime partner of the Colorado Coalition for the Homeless, provided two separate financing packages for the $38 million development of the Stout Street Health Center and Renaissance Stout Street Lofts in downtown Denver. Combining construction and permanent loan with New Markets Tax Credit (NMTC) and Low-Income Housing Tax Credit (LIHTC) financing, we helped the Coalition build the state-of-the-art clinic, which cares for up to 18,000 homeless, veteran and uninsured patients. The package also financed the construction of affordable apartments for 78 formerly homeless households, providing a stable home environment and support services for vulnerable Denver individuals and families.

Celadon at 9th & Broadway San Diego, California

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Celadon at 9th & Broadway
San Diego, California

Located on a former parking lot in a redeveloping urban area, Celadon at 9th & Broadway includes 250 affordable rental apartments and provides its multigenerational population with services and ground-floor retail. Nonprofit developer BRIDGE Housing designed the high-rise with 25 units reserved for youth aging out of foster care and adults covered by the Mental Health Services Act. Another 63 apartments serve seniors under the Program of All-Inclusive Care for the Elderly. Celadon is designed to LEED silver standards and has a green roof with drought-tolerant plants and a solar system built into the building’s façade—the tallest solar generation system of its kind in the nation.

Arcade Building St. Louis, Missouri

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Arcade Building
St. Louis, Missouri

Assembling a $77 million financing package for the redevelopment of the century-old Arcade Building required a dedicated, multidisciplinary team from U.S. Bank. We partnered with leading developer Dominium to pair construction and permanent debt and NMTC, LIHTC and Historic Tax Credit equity with capital from the City of St. Louis and other financers to renovate the 18-floor building in the heart of downtown St. Louis, which has been vacant for years. The 500,000-square-foot Arcade houses a local university’s classrooms and performance hall, an art gallery, 202 apartments for artists and low-income residents, 80 market-rate apartments and retail space.

Plymouth Building Minneapolis, Minnesota

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Plymouth Building
Minneapolis, Minnesota

In the center of downtown Minneapolis, U.S. Bank blended construction loans and HTC equity with grants from the city to finance the restoration of the historic Plymouth Building. HRI Properties is reviving the 384,000-square-foot office building into a 290-room upscale, full-service hotel that will generate jobs and economic development for Minneapolis for years to come. Our relationship with HRI Properties and its affiliates spans numerous investments; most recently, the company leveraged our expertise in New Orleans to complete the new construction and substantial rehabilitation of a significant portion of the historic Iberville housing site and the redevelopment of a Hurricane Katrina-damaged office building into a mixed-use, mixed-income property.

Revolving credit facility for Century Housing Corporation California

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Revolving credit facility for Century Housing Corporation California

New U.S. Bank partner Century Housing provides tax credit and infill developers in California with innovative loan solutions. In mid-2015, we closed on a $15 million revolving credit facility to help Century increase its lending capacity and deployment for predevelopment, acquisition, construction and bridge loans. The facility also assisted with structured finance for community revitalization, primarily to support affordable rental housing development to both for- and non-profit organizations. The community development financial institution’s lending activity over the past two decades has resulted in the development and preservation of more than 25,000 affordable homes and apartments in underserved communities throughout the state.

The Basics of Community Lending

Community lending is available for the rehabilitation, construction and stabilization of real estate projects of any size. Get the products and services you need.

A Dedicated Team

Our community lending team provides seamless, single-point contact for a diverse array of services. Team members are dedicated to building long-term relationships founded on responsiveness, full-service to all parties concerned and a long view toward community development.

Equal Housing Lender Equal Housing Lender

U.S. Bank and its representatives do not provide tax or legal advice. Each tax and financial situation is unique. Consult your tax and/or legal advisor for advice and information concerning a particular situation.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates and third parties.

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