New Markets Tax Credits and TAD Financing Approved for Quest Nonprofit Center for Change

Invest Atlanta and its affiliate Atlanta Emerging Markets, Inc. (AEMI) recently closed transactions to fund construction of the Quest Nonprofit Center for Change (QNCC) on Atlanta’s Westside. The Quest Community Development Organization will transform a commercial strip center into a catalytic project that will provide new space for neighborhood-oriented commercial and nonprofit tenants.

The Quest Nonprofit Center for Change will bring together nonprofits and socially responsible businesses under one roof to provide resources to the Westside. In addition to the nonprofits that will become tenants, Quest will also move its headquarters to the facility. The current site has Family Dollar as an anchor tenant with a lease that will continue with the new building.

Over the last 15 years, the Quest Community Development Organization has provided affordable, supportive housing and services to homeless and low-income men and women so that they may become self-sufficient. The majority of Quest’s services are provided to those who suffer from mental illnesses, substance abuse, or other chronic health conditions.

Invest Atlanta and AEMI provided two types of funding for the project. Invest Atlanta provided a $500,000 Westside Tax Allocation District (TAD) grant, passed by the Board of Directors in November 2018, and AEMI provided $7.5 million in New Markets Tax Credits with SunTrust as the tax credit investor, passed in January 2019.

The $10.8 million project is located at 305 Joseph E. Lowery Boulevard Northwest, selected for its proximity to Quest’s housing developments and clients. QNCC and its tenant businesses will support 80 full-time jobs, and employees will be identified in part through partnerships with local organizations including the Center for Working Families and Westside Works.

QNCC will also provide 25,000 pounds of fresh produce annually by increasing Westside Grower’s capacity by 150%, offer case management and supportive services to 650 people each year, provide 4,000 people with financial education and empowerment, and improve access to commercial goods.

The development will be the first-class B office space in Vine City, with more than 26,000 square feet of leasable space. Construction is scheduled to begin in January 2019 and be completed by November 2019.  

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