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    $12 Million in NMTCs to Revitalize Oakland’s National Historic Landmark into Vibrant Community Center

  • detail image of project

    $12 Million in NMTCs to Revitalize Oakland’s National Historic Landmark into Vibrant Community Center

  • detail image of project

    $12 Million in NMTCs to Revitalize Oakland’s National Historic Landmark into Vibrant Community Center

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Oakland Civic Center

The Oakland Civic Center (OCC) is a cultural and historic landmark located in downtown Oakland, CA. It has hosted a dynamic range of guests, including Martin Luther King Jr., James Brown, Bob Marley, and the Grateful Dead. Originally built in 1915, OCC has been vacant for the past 10 years.

A $45 million joint effort to revitalize OCC is now underway. This includes New Markets Tax Credit allocations from:

U.S. Bancorp CDC, in partnership with Bank of America, invested in the tax credits.

Restoration will transform OCC into a vibrant commercial and performing arts venue offering below-market rent opportunities for local arts and nonprofit organizations. It will provide much needed performance and rehearsal space for music, dance, and theater, as well as corporate meetings. OCC will also partner with Laney College to serve students pursuing academic, career, and vocational development. This project will create 127 construction jobs and 30 permanent jobs.

Download the PDF: Just Funded by CCDFI – Oakland Civic Center

“The restoration of the historic Oakland Civic Center will have a material impact to the community by employing several hundred local residents during its re-development and future operations as well as offering services, performances and cultural programming to almost 200,000 participants annually. Uniquely, the Calvin Simmons Theatre in conjunction with Laney College is developing a workforce training program that will offer students an opportunity to work backstage as stagehands and technicians, which will provide a direct path into higher paying positions."
- Paul Hoffman, Managing Director of CCG Community Partners, LLC
Financing Provided:
$12 Million New Markets Tax Credits (NMTCs)
Location:
Oakland, CA
Impact:
- Preserves a cultural/national historic landmark
- Creates: below-market rents for arts & nonprofit organizations; academic, career, & vocational development opportunities for students; 127 construction jobs & 30 permanent jobs
Purpose:
Revitalization of national historic landmark
Year Funded:
2020
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