With Townsend Capital as its controlling entity, Urban Research Park CDE, LLC (URP) was established in 2003. URP is certified as a Community Development Entity (CDE) by the U.S. Department of Treasury and has cumulatively been awarded $502 million in New Markets Tax Credit (NMTC) allocation authority. URP uses its NMTC allocation to support real estate projects focused on healthcare, education, and innovative technology throughout the United States. Utilizing Townsend's 46 years of experience, URP has deployed its allocation into 35 projects, all in highly distressed, low-income communities in 24 states. So far, these projects have created 19,254 direct jobs, with 7,130 of these jobs for low-income persons and low-income community residents. More information can be found here: www.urpcde.com.
Representative projects
La Kretz Innovation Campus
Los Angeles, California
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Baystate Medical Center
Springfield, Massachusetts
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GE Aviation EPISCenter
Dayton, Ohio
Pikeville College
Pikeville, Kentucky
Orthopaedic Institute for Children
Los Angeles, California
Sibley Building Technology Incubator
Rochester, New York
Carmichael Building
Durham, North Carolina
Massachusetts Green High Performing Computing Center
Holyoke, Massachusetts
Denver Health and Hospital Authority's Southwest Clinic
Denver, Colorado