November 1, 2016
With construction finished, key partners are set to gather to mark the transformation of this iconic building that will serve the city of Seattle and the Puget Sound region for years to come. The event will take place on Wednesday November 2, 2016 from 4 to 6 @ Pacific Tower, 8th floor conference room, 1200 12th Ave. S., Seattle, WA 98144.
For the Pacific Tower project, NDC worked on behalf of the City of Seattle’s Seattle Investment Fund providing solutions to the challenges faced by the State of Washington and Community College agencies regarding the financial and legal structuring necessary to syndicate federal New Market Tax Credits (NMTC) and Historic Tax Credits (HTC). NDC’s contribution was critical to the completion of the project and short and long term impact on surrounding community and its residents.
“NDC is proud to be a partner in the completion of the Pacific Tower. This $56-million project could not have been completed without the $16.3 million in funding provided by Historic Rehabilitation Tax Credits and New Market Tax Credits” Said Robert W. Davenport, President, NDC “The Pacific Tower will not only create 55 new jobs with good wages, but will consolidate all Seattle Metropolitan health service education training and certification programs. Additionally, the project will include a community health clinic, which will house one of Seattle’s most comprehensive dental training programs, the clinic plans to provide dental services to low-income Medicaid and uninsured patients. The Pacific Tower project brings a new life to a historic building and provides life changing services to underserved residents of the local community. This is what motivates the work of NDC each and every day.”
More about the event HERE