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Industrial, New Market Tax Credits
The Hazelwood Logistics Center anchors a major industrial park in northern St. Louis. Strategically located among four major U.S. interstates, the 164-acre park accommodates a wide range of activities, from manufacturing to distributing.
Mired in legal and environmental trouble from a failed previous development, Bet365 Online Live DealerSunflower Development Group stepped in to pursue the New Market Tax Credits that ultimately made the project feasible for our development partners, NorthPoint.
Our team successfully secured $16 million in New Market Tax Credits, which greatly offset the property’s remediation cost and resulted in $5.3 million of gross equity. The tax credits were Best slot on Bet365instrumental in allowing NorthPoint to attract tenants and create hundreds of jobs for low- and moderate-skilled workers in an underserved area of St. Louis.