CDF’s New Markets Tax Credits helped finance Mercer Commons, a multi-phase development that involved rehabilitating 19 historic buildings and developing 26 vacant lots over a 3-acre site. Phase I included construction of a 340-space parking garage, 3,900 sf of commercial space, and 28 units of housing. Phase 2 added 67 apartments (30 affordable) and 13,725 sf of commercial space. Mercer Commons was catalytic, spurring residential and commercial development on adjacent and nearby blocks in this distressed neighborhood.
- 67 apartments (30 affordable)
- 28 condos/townhomes
- 14,500 sf of commercial space
- 750 construction and 60 permanent jobs