The Boone Block project was an adaptive re-use of a mostly vacant historic building into nine for-sale townhomes. Orleans Development created one-of-a-kind residential units that feature car parking incorporated into living spaces. The project established a market for owner-occupied housing in a challenging location and returned a valued historic asset to the community. The project also features a public art installation by the London Police and a living wall, the first combination of these elements in the US.
The Catalytic Fund's development services included providing market and financial feasibility studies and assembling the project capital stack, consisting of private and public grants and primary and subordinate debt. The Catalytic Fund also provided a subordinate loan that bridged receipt of a public development incentive for the project.