Breckenridge Consulting Services has closed over $1.1 billion in NMTC transactions, providing critical financing for over 70 community and economic development projects across the country.
BCS provides tax credit consulting services for project sponsors and Community Development Entities.
BCS provides a full range of NMTC consulting services to its developer/sponsor clients.
BCS works with both nonprofit and for-profit real estate developers, as well as service organizations and operating businesses seeking to utilize NMTCs.
BCS works with CDE clients to develop winning strategies for NMTC applications.
BCS has prepared 13 successful NMTC applications, totaling $675 million in NMTC awards.
For developers pursuing qualifying historic rehabilitations, BCS offers structuring, modeling, and closing administration services.
BCS will also assist in identifying the Historic Tax Credit investor that best meets the needs of the project.
BCS has helped secure tax credit financing for over 70 projects throughout the country.
Renovation of a 1920’s era Chicago warehouse to serve as a new multi-tenant food production facility. The facility provides 60 pre-inspected, customizable wholesale kitchen spaces, along with access to essential shared amenities including storage, packaging, and shipping and receiving. Amped Kitchens’ innovative model addresses regulatory and facility barriers that limit food businesses, allowing small businesses to scale faster with lower capital costs.
Financing closed: $24.5M
Construction of an 8,000 SF commercial building that includes an FQHC operated by St. John’s Well Child & Family Center, along with neighborhood serving retail. The commercial project is co-located with 140 units of affordable housing developed by Abode Communities and TRUST South LA.
Financing closed: $6.5M
Los Angeles, CA
Renovation of an underutilized 307,000 SF warehouse facility in Houston’s East End neighborhood to serve as an innovative new training and incubator space for small manufacturers and light industrial businesses. The anchor tenant, TXRX Labs, is a nonprofit organization that incubates small businesses and provides skills training in modern technology for community residents.
Financing closed: $29.1M
HopeWorks Station provides workforce training facilities, incubator space for job-creating businesses, and office headquarters for HopeWorks, an affiliate of Housing Hope. The upper floors of HopeWorks Station provide 65 units of affordable housing for youth, veterans and families.
Financing closed: $13M
New construction of a 211,000 square-foot Hollywood campus for the Los Angeles LGBT Center, the largest LGBT service provider in the world. The new campus includes 99 units of affordable housing for seniors, 100 beds for homeless youth, new senior and youth centers, 25 units of supportive housing for young people, a commercial kitchen and ground floor retail.
Financing closed: $43M
Los Angeles, CA
New construction of a 44,000 square-foot community center located in East Tacoma's Salishan public housing development. The Eastside Community Center houses athletic facilities and classroom spaces to support after school programming.
Financing closed: $29M
Construction of a mixed-use development that brings healthy foods to a federally-designated food desert. Uptown Center features a grocery store, 20 units of mixed-income apartments, and additional retail space.
Financing closed: $5.9M
Paso Robles, CA
Rehabilitation of a 25,000 square-foot office building into a workforce training center for SER Jobs for Progress of the Texas Gulf Coast. The renovated building has allowed SER to expand its skill development and job placement programs for low-income individuals.
Financing closed: $10M
New construction of a recreational facility in the Little Tokyo neighborhood of downtown Los Angeles. The facility is designed to celebrate Japanese American culture, and provide space for sports, arts, and community education.
Financing closed: $31.2M
Los Angeles, CA
Mixed-use development in downtown Los Angeles that includes a 25,000 square-foot Federally Qualified Health Center serving homeless individuals for LA Christian Health Centers, along with 88 units of LIHTC-financed permanent supportive housing, developed by Skid Row Housing Trust.
Financing closed: $25.9M
Los Angles, CA
New construction of a 30,000 square-foot facility that allows The Women’s Home to provide physical and behavioral health programs, after school programs for elementary school children and adult education/workforce development programs.
Financing closed: $10.4M
Acquisition and rehabilitation of a vacant 48,000 square-foot building into a Federally Qualified Health Center providing comprehensive medical, mental health and social services for over 12,000 homeless and underserved individuals annually.
Financing closed: $51M
San Francisco, CA
New Markets Tax Credit financing to support the west expansion of Pike Place Market, a shopping area and historic tourist destination on Seattle’s waterfront.
Financing closed: $10.3M
New campus development for LA Family Housing, the largest provider of affordable housing in the San Fernando Valley and a best practices provider of homeless services throughout Los Angeles. The campus includes a health center for the homeless, a 250-bed shelter for homeless adults, 50 units of new construction permanent supportive housing and a Coordinated Entry System intake center for homeless families and individuals.
Financing closed: $30.7M
Los Angeles, CA
Rehabilitation of a historic performance hall in Seattle’s Central District. The building provides an affordable, permanent home for nonprofit organizations, and serves as a local arts and cultural facility for the community.
Financing closed: $9M
Structured New Markets Tax Credit financing for a mixed-use facility that provides 88 units of affordable housing, office space for nonprofits, and performance space for artists.
Financing closed: $21.8M
Construction of a new Head Start facility providing intensive services for children in low-income households. The Educare Arizona facility houses an on-site health clinic that brings accessible care to students, families, and the local community.
Financing closed: $12.1M
Over 14 years of experience delivering results for exceptional clients across the country.
A holistic understanding of the NMTC program that benefits both CDE and QALICB clients.
Work directly with Paul or Karen Breckenridge.
Paul founded BCS in 2007 to help bridge the gap between the organizations that provide tax credit capital and the developers and service agencies that utilize that capital.
Prior to starting BCS, Paul served as the Western Region Director for Enterprise Community Investment's Structured Finance Department. At Enterprise, Paul managed over $160 million in NMTC and Low Income Housing Tax Credit investment throughout the western United States. Paul previously worked as a developer at the Low Income Housing Institute, a nonprofit affordable housing developer in Seattle. Paul is a Returned Peace Corps Volunteer, having served in Jamaica from 1997 to 1999. Paul holds a Master of Business Administration degree from the University of Washington, and a Bachelor of Science degree from Willamette University. Paul currently serves on the Board of Directors of Capitol Hill Housing, a leading affordable housing and community development organization in Seattle.
Karen joined BCS in 2011 with a focus on preparing NMTC applications for CDE clients and managing project closings on behalf of CDE and QALICB clients.
Karen's experience includes eight years as a land use and environmental attorney at Hillis Clark Martin & Peterson in Seattle, where she counseled public entities and companies on a broad range of legal issues arising from their real estate development projects. Karen currently serves on the Board of Directors of Downtown Emergency Service Center, one of Seattle’s leading nonprofit providers of housing and integrated services for individuals experiencing homelessness. Prior to her work as an attorney, Karen worked with several nonprofit organizations in Seattle, with a focus on homelessness, affordable housing, and education. Karen holds a JD from the University of Washington School of Law, and a Bachelor of Arts degree from Stanford University.