Continuum

overview

Location: New Haven, CT

Client Partner: Continuum of Care, Inc.

Rise’s Role: Financial Advisor

Size: 30,000 sq ft

Project summary

Continuum of Care, Inc. (“Continuum”) is a 45+ year old New Haven based anchor non-profit that provides supportive housing for persons with mental illness, developmental disabilities, autism and home healthcare services. Its new facility serves as the anchor of a $50+ million, 120,000 sq ft mixed-use development, which will keep Continuum in New Haven while consolidating and expanding its existing locations.

rise’s Strategy & solutions

Rise was engaged in 2013 to help Continuum and the developer raise NMTCs, bridge debt, and combine financing sources with a state grant. Rise structured the transaction, raised capital (debt and NMTCs) and connected Continuum to their current CDEs. When unexpected challenges arose during requisitions, Rise was able to adapt and steer the project through such challenges, ensuring a smooth closing with all parties in the end. Rise continues work closely with DADA post-closing on on construction administration, reporting, and compliance obligations.

Rise’s Distinctions

In structuring the transaction, Rise worked with Continuum and the State of CT to use the state grant in the NMTC structure, which was the first time this had been done.