Congratulations are in order to Economic Growth Corporation for its receipt of a “Preservation at its Best” award from Preservation Iowa for the rehabilitation of the Wilson Lofts in Clinton, Iowa.  The development entailed the reuse of the historic Wilson Building into a 33-unit apartment complex, containing both market-rate and workforce housing rental apartments.  The retail space in the building also houses Makers on Fifth and Clinton Culinary, the first two business incubators in Clinton.  Clocktower Tax Credits is proud to have helped provide the Federal Historic Tax Credit and Iowa Brownfield Tax Credit equity, two of more than ten sources of financing for the Wilson Lofts.

Preservation Iowa, a statewide organization dedicated to the preservation of historic resources across Iowa, honored the project and Economic Growth Corporation at its Preserve Iowa Summit in June.  The award was in the Adaptive Reuse category, highlighting the impactful vision of the project to transform the vacant building into both a home for many and a business incubation space for local entrepreneurs. 

“The Wilson Lofts is a major redevelopment milestone for GROWTH and is the result of a collaborative planning effort spanning nearly ten years that required hard work, determination, resilience, and coordination by many partners,” stated Brian Hollenback, President and CEO of GROWTH. “We’ve been extremely fortunate to have built a strong team of partners that believed and trusted in each other and believed and trusted GROWTH to get it done.”

Clocktower is ready to help developers of all kinds across the state of Iowa with the plethora of Federal and State tax credit programs available for Iowa developers to use for visionary real estate developments.  If you have any questions or need support for your Iowa project, please reach out to David Curtis at (978) 440-0742, or email him at DCurtis@ClocktowerTC.com. 

In June, Senior Associate David Curtis had the pleasure of being the final speaker at the groundbreaking event for Lakeview Landing, in the Lake View neighborhood on the North Side of Chicago. The day was a welcomed celebration, as developer client Over the Rainbow (OTR) Housing persevered through four years of pre-construction planning to push the project forward to construction. The project will be a neighborhood staple for Lake View on the former site of the Lake View Lutheran Church, creating 37 one-bedroom living units for mobility impaired residents within five blocks of Wrigley Field. The development far exceeds ADU standards, with amenities in each unit including roll-in showers, pull-under sinks, accessible appliances, and lower-positioned light switches, electric outlets, windows and door handles. OTR Housing has a long track record of supporting and developing accessible housing across Chicagoland, with over a dozen different sites that provide hundreds of units for low-income disabled tenants in both urban and suburban cities. Clocktower has provided the Illinois Affordable Housing Tax Credit equity for multiple OTR developments, and we continue to be very proud to support their wonderful vision to provide high quality accessible housing across Illinois. Clocktower is ready to help all developers with socially focused housing creation, and has a deep passion to be the state tax credit equity provider for empathetic and impactful clients like Over the Rainbow Housing. If there are any questions or help needed for a creative real estate development idea, please reach out to David Curtis at (978) 440-0742, or email him at DCurtis@ClocktowerTC.com. 

“It is exciting to see the fruits of Ema’s labor in vivid color,” Clocktower President Jeff Jacobson noted. “The film earned numerous festival awards and represents Clocktower’s first investment in the African market. The quality of both the acting and production for a small-budget film is just amazing! We look forward to supporting more independent filmmakers by helping them bring their creative visions to life.”

Clocktower has recently agreed to finance and executive produce Edosio Deleen’s next feature, a full-length production entitled “When Nigeria Happens”. It’s a powerful, captivating exploration of the resilience and struggles of Nigeria’s youth, set within the colorful, chaotic cityscape of Lagos. Two passionate dancers from a free-spirited commune must confront harsh societal realities that challenge their love, dreams, and ideals, leading them to an emotional crossroads between the allure of defiance and the heavy cost of compromise. Filming is ongoing, with production set to complete this Summer, and distribution scheduled for Fall of this year.

Clocktower Tax Credits is excited to work with experienced filmmakers to help them bring their creative dreams to the silver screen. Our primary interest is in projects, which generate transferable tax credits. To discuss your film project with us, please call associate Haley Ricker at (978) 793-6694 or email her at HRicker@ClocktowerTC.com.

At Clocktower Tax Credits, we strive to support and empower filmmakers nationwide.  That’s why we were thrilled to partner with Women in Film and Video New England (WIFVNE) on a recent webinar focused on leveraging tax credits to help finance film and digital media productions.  As the Acquisitions Associate overseeing the film sector of Clocktower, Haley Ricker hosted the webinar, where she provided an overview of the tax incentives available to filmmakers in New England.  The event was moderated by Alecia Orsini, a sought-after line producer for Massachusetts productions.  She offered her perspective on utilizing tax credits from a production standpoint and guided conversation based on her experiences.

The event focused on the transferable tax credit programs in Massachusetts, Connecticut, and Rhode Island.  Through Clocktower’s extensive work in all three states, Haley was able to advise filmmakers on their options when it comes to filming and provide guidance on how to navigate the process of applying for and receiving the credits.  By demystifying the process and bringing awareness to the job of tax credit brokers, she helped filmmakers see a new opportunity for partial financing of their productions.

WIFVNE works to advance the careers of women working in the film, television, and media industries.  It has been instrumental in providing support, resources, and opportunities to those both inside and outside of the organization.  Clocktower’s collaboration with WIFVNE highlights our shared commitment to support and offer direction to filmmakers throughout the production process.  Clocktower is a national broker of State and Federal tax credits, raising much-needed equity for the financing of important projects.  If you’re a filmmaker with questions about tax incentives, please contact Haley Ricker at (978) 793-6694 or HRicker@ClocktowerTC.com.

Clocktower has once again secured a state low-income housing tax credit investor for The Community Builders; this time for the Merrick at the Square project currently under construction in Worcester, MA.  This brand-new LEED certified 49-unit development will help fill the housing gap by offering additional affordable housing to the area, which is currently in very short supply.  The complex is designed to meet the Enterprise Green Communities standards which features many of the latest technologies such as on-site stormwater management, solar power generation, dedicated space for electric vehicles and bicycles, as well as providing tenants with access to various outdoor spaces.

While The Community Builders and Clocktower both have operations throughout the country, Massachusetts is home base to both firms, and we take great pride in our role in securing tax credit equity so these wonderful projects can continue to be built.  Watching the gentrification of these cities and towns in our backyard is very fulfilling; these projects require complex financial structures, and Clocktower is thrilled to be part of the solution.

Clocktower continues to support the many communities throughout the Commonwealth, by providing first-in-class tax credit placement.  If you are currently developing a low-income multi-family project and/or refurbishing old historic buildings that will generate tax credits, Clocktower should be atop your list of companies to call.  With decades of experience in the real estate sector, we look forward to putting our expertise to work for you and make those plans become reality.  Contact our Senior Associate, Dave Auster at (978) 793-6600, or by email at DAuster@ClocktowerTC.com.