Gateway Towne Center
Compton, CA   -   $29,000,000
NMTC Loan: Permanent Financing

The Gateway Towne Center is a retail shopping center anchored by Home Depot, Best Buy and Target. It is also home to the Jr. Achievement Workforce Readiness Center, which educates students in grades K-12 about entrepreneurship, work readiness and financial literacy through experiential, hands-on programs.

Clearinghouse CDFI provided a $29 million permanent NMTC loan for the project. This loan was one of the first uses of the American Recovery and Reinvestment Act of 2009 resources in the country. The opening was hailed by city leaders as a sign of the rebirth of Compton and was welcomed by residents.

CDFI Fund Director Donna J. Gambrell attended the grand opening of the Jr. Achievement Workforce Readiness Center, and stated, "It is truly an honor to visit Junior Achievement’s Workforce Readiness Center and see first-hand the tremendous positive impact the Gateway Towne Plaza is having on the re-birth of the City of Compton. This is a project that speaks to the economic recovery that is taking place in underserved communities across the country and the extraordinary transformational potential of the New Markets Tax Credit for these communities."

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Mary & Gary West Senior Wellness Center
San Diego, CA   -   $7,000,000
NMTC Loan: Acquisition & Construction

The Mary & Gary West Senior Wellness Center, located in San Diego, CA, is a community center for low-income seniors which addresses basic needs.

Clearinghouse CDFI provided a $6.86 million NMTC loan for the construction and permanent financing of the center. This 16,000 square foot facility was renovated from an existing building in downtown and offers innovative, healthy living services for seniors, including: life-long learning, mental health care, civic engagement, computer access, and recreational activities.

The senior center provides meals to 500 low-income seniors daily. Approximately 75% of these seniors live at or below the Federal Poverty Level. The center is located in an area of greater economic distress with a benchmark median income of 41.3%.  Read more about the Mary and Gary West Senior Wellness Center here.