NMTC Projects

NMTC Funded Projects

Phoenix Community Development and Investment Corporation (PCDIC)  has used $263 Million in federal New Market Tax Credit Program (NMTC) funds it has been awarded to provide  loan funds to commercial real estate projects that address the following:

  1. Improve the quality of life of individuals who live and work in underserved communities and
  2. Demonstrate how they (borrower) will positively impact the underserved communities in which they operate.  

PCDIC has received 3 Allocation Awards with the 2002 Award of $170 Million being the largest single award ever issued by Community Development Financial Institution (CDFI) of the U.S. Treasury Department. Below is the listing of past projects financed by PCDIC since 2002, the most recent shown first. 

For more information on recent projects, please click on picture.

2010 ALLOCATION AWARD ($53 Million)

CityScape Kimpton Palomar Hotel – Phase II

2 East Jefferson Street, Phoenix, AZ 85004

Hotel Monroe

15 E Monroe Street, Phoenix, AZ 85004

Phoenix Children's Hospital

1919 E Thomas Rd, Phoenix, AZ  85016 

2008 ALLOCATION AWARD ($40 Million)

CityScape Office Tower Phase - II

1 E. Washington Street, Phoenix, AZ 85004

CityScape Retail

11 W. Washington Street, Phoenix, AZ 85003

Phoenix Rescue Mission

338 N. 15th Avenue, Phoenix, AZ 85007

Paideia Charter School 

 7777 South 15th Terrace, Phoenix, AZ 85042

Phoenix Rescue Mission - II

338 N. 15th Avenue, Phoenix, AZ

Department of Economic Security

11420 N 19th Ave, Phoenix, AZ 85018

2002 ALLOCATION AWARD ($170 Million)


15685 N. Cave Creek Rd., Phoenix, AZ 85032

Action Compaction Services

4020 S. 15th Avenue, Phoenix, AZ 8504


Aedificium (ValuTek)

5005 E. McDowell Rd., Phoenix, AZ 85005

Arizona Bridge to Independent Living (ABIL)
5025 E. Washington Street, Phoenix, AZ 85034

Bentley Projects
215 East Grant, Phoenix, AZ 85004

Biltmore Holdings

111 W. Monroe Street, Phoenix, AZ  85003

CityScape Office Tower

1 East Washington Street, Phoenix, AZ 85004

CityScape Kimpton Palomar Hotel - Phase I

2 East Jefferson Street, Phoenix, AZ 85004

Clarendon Hotel
410 W. Clarendon Avenue, Phoenix, AZ 85013

DEFT III (Sunland Asphalt)

737 W. Elwood Drive, Phoenix, AZ 85041

Desert Taco
1901 W. Northern Avenue, Phoenix, AZ 85021

Hacienda Skilled Nursing Facility

1402 E. South Mountain Rd., Phoenix, AZ 85042

Maryvale YMCA

3825 N. 67th Ave., Phoenix, AZ 85033

Native American Connections
4520 N. Central Ave, Phoenix, AZ 85013

Northern Global

1021 E. Washington Street, Phoenix, AZ 85034

U of Arizona Medical School

445 N. 5th Street, Phoenix, AZ 85004

Riverside Industrial Center (Amazon)

4747 West Buckeye Rd, Phoenix, AZ 85043 

Spectrum Mall

1703 W. Bethany Home Rd, Phoenix, AZ 85015

Sunstate (ADVO)

1818 E. Riverview Drive, Phoenix, AZ 85016

Youth Development Initiative

1830 E. Roosevelt Street, Phoenix, AZ 85006