Classic Lake

Proven Track Record

Past Projects

 

Classic Lake has facilitated the placement of over $350 million of investment, providing critical financing for over two dozen community and economic development projects from new construction to adaptive reuse and historic rehabilitation across the country. Classic Lake provides supportive services to municipal agencies, real estate and housing developers, small businesses, healthcare and education institutions, fresh grocers, non-profits, and financial services firms, enabling them to bridge capital gaps. Classic Lake also works with developers to increase outreach and hiring of minority- and women-owned businesses to address workforce equity.

Project Locations

 
 

Oakwood University - Huntsville, AL

The $8.5 million New Markets Tax Credit (“NMTC”) investment with Oakwood University’s will be used to finance the construction and renovation of property critical to Oakwood University’s Healthy Campus 2020® program, a strategic initiative established in 1995 in effort to address poor health outcomes and preventable diseases among students and, amended in 2020, to more broadly help address health, food and job insecurity faced by the minority low-income residents of Northwest Alabama. NMTC partners collaborating with HOPE on this investment include Pathway Lending, Gulf Coast Housing Partnership, Truist Bank and Truist Community Capital. This NMTC financing will directly support the following construction activities: 1) Development of the Community Health Action Center which will tackle medical and food inequities in the community; 2) Expansion of the Market which will increase space by 39.5% for fresh foods, and other local goods; and 3) Renovation of the Peters Music Hall which upon completion will provide a vibrant and high-level arts program to both students and the Huntsville community’s low-income residents.

https://oakwood.edu/

Angelique PoissonOakwood University