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Friday November 15th, 2019 8:37AM

Monarch Private Capital’s Drayton Mills Project Chosen as Example of Historic Tax Credit Impact & Effectiveness

By The Associated Press

ATLANTA--(BUSINESS WIRE)--Nov 30, 2017--Monarch Private Capital (“MPC”), a leading syndicator and investor of tax credits, is extremely proud to have their Drayton Mills Project in Spartanburg, South Carolina identified as a glowing example of the impact and effectiveness of the Historic Tax Credit and how such projects can transform a community. Senator Tim Scott, R-S.C., during the Senate Finance Committee Tax Reform hearings, recognized the Drayton Mills project as a representation of the success of the Historic Tax Credit and how it brings new life to entire communities.

Senator Scott and HUD Secretary, Dr. Ben Carson, recently visited Drayton Mills, which is currently the largest historic restoration project in South Carolina. Formerly a textile mill and warehouses constructed between 1902 and 1950, the project now consists of 70 unique residential floor plans and a variety of restaurant, retail, and office space.

Robin Delmer, Co-CEO and Managing Director of Acquisitions for MPC said, “The Historic Tax Credit is critical for the revitalization of our communities and country and MPC is proud to play a part. The impact of the Drayton Mills project and the value to the surrounding community is immeasurable and good for all.”

About Monarch Private Capital

Monarch Private Capital (MPC) is an investor and syndicator of state and federal tax credits nationwide. The Monarch Private Capital team is committed to both developer and tax equity investor success. Our focus is to provide innovative capital solutions to the renewable energy, low income housing, film and historic rehabilitation industries. Monarch Private Capital is headquartered in Atlanta and has several offices located throughout the U.S. Please visit MonarchPrivate.com to learn more.

View source version on businesswire.com:http://www.businesswire.com/news/home/20171130005805/en/

CONTACT: Monarch Private Capital

Katie Mobley, 404-991-3649

kmobley@monarchprivate.com

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA SOUTH CAROLINA

INDUSTRY KEYWORD: ARCHITECTURE PROFESSIONAL SERVICES ACCOUNTING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Monarch Private Capital (“MPC”)

Copyright Business Wire 2017.

PUB: 11/30/2017 11:16 AM/DISC: 11/30/2017 11:16 AM

http://www.businesswire.com/news/home/20171130005805/en

  • Associated Categories: Associated Press (AP), AP Online Headlines - Washington, AP Online Congress News, AP Business, AP Online - Georgia News, AP Business Wire - Georgia
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