This project, together with the Culture and Humanities project described below were actually combined into one NMTC project/transaction. This portion of the project was a wholly greenfield development. As the Chickasaw Nation has experienced tremendous growth it has struggled finding adequate office space. After successfully completing the Carl Albert Redevelopment project, the Nation again looked to NMTC to assist with the construction of additional space. Unlike, the Carl Albert project, this project is located wholly on free land owned by one of the Nation’s wholly owned subsidiaries. The total combined project was approximately $14 million, with approximately $8 million being dedicated to this building. This portion of the project resulted in approximately 32,600 square feet of new, high quality office space for the Chickasaw Nation primarily occupied by its Construction Services and its Tribal and Commercial Health departments. Ultimately, utilizing NMTC on this combined project resulted in a return on investment to the Chickasaw Nation of approximately $3.5 million dollars that could then be directed to other projects and services.
Date Closed: December 23, 2015
Total Development Cost: $14 million
Allocation Amount: $13 million
NMTC Investor: Landmark Bank
NMTC Equity: $8 million
CDE Partner: Valued Growth Associates, LLC
Silverstone Status: Substantial Completion June 30, 2017