V3 Sports is a nonprofit organization that is dedicated to advancing health, wellness, and opportunity in North Minneapolis, a community historically impacted by disinvestment, high unemployment, and racial disparities in health and economic outcomes. V3 used NMTC financing to support the development of the V3 Center, a 280,000 sq. ft., multi-phase mixed-use athletic and wellness facility, designed to increase access to fitness, education, and career development opportunities.

Phase I of the project includes a 37,645 sq. ft. facility featuring instructional and hydrotherapy pools, fitness areas, locker rooms, business incubator space, classrooms, community gathering spaces, administrative offices, a restaurant and catering kitchen, and drop-in childcare facilities. The V3 Center addresses systemic poverty, health inequities, and underemployment by providing accessible health and wellness services, offsetting membership costs through grants, insurance, and paid memberships, and offering employment and career training programs for local residents.

Services Provided by Classic Lake:

• New Markets Tax Credit Advisory

Community and Economic Impacts

• 400 construction jobs

• 60 full-time jobs

• 800–1000 persons served daily

• Serves as an economic anchor, generating an estimated $5.2 million in local economic impact through events and competitions