Property Summary
Located in downtown Chattanooga, the century-old Tivoli Theatre, known as the “Jewel of the South,” is listed on the National Register of Historic places and reflects the Beaux Arts architectural style prevalent in late 19th century and early 20th century America. The theater, which features various musical and Broadway productions, as well as the adjacent office building, are undergoing extensive renovations, which will include the creation of a new Tivoli Performing Arts Center, as well as a 250-seat cinema and performance art hall.
C-PACE Opportunity
Nuveen Green Capital was proud to partner with Reinvestment Fund, Inc. on a $73.4 million construction financing package for the theater, which was deployed in conjunction with New Market Tax Credits and Historic Tax Credits. C-PACE’s cost-efficient capital will be used to finance the roof, windows, HVAC, lighting, plumbing, the elevator, and the pit lift as well as the rehabilitation of the building’s façade. By leveraging C-PACE for this project, the sponsor was able to fully capitalize the project, enabling it to move forward.
