Monarch Private Capital Celebrates Nearly 100 Investments Transforming South Carolina Communities

ATLANTA, December 5, 2024 (GLOBE NEWSWIRE) – Monarch Private Capital (Monarch), a nationally recognized impact investment firm that develops, finances and manages a diversified portfolio of projects generating both federal and state tax credits, is proud to announce its substantial impact across South Carolina through nearly 100 investments spanning Anderson to Rock Hill and Greenville to Charleston. Utilizing Historic Tax Credits, Mill Tax Credits, Abandoned Building Tax Credits and Low-Income Housing Tax Credits, Monarch has fueled transformative projects that are reshaping communities while preserving cultural heritage and driving economic growth.

These tax equity investments have driven $1.75 billion in development, created more than 20,000 jobs, delivered 3,000 affordable homes, and generated over $5 billion in total economic impact. From revitalizing historic textile mills and landmarks to building much-needed affordable housing communities, Monarch’s projects demonstrate the profound role of tax credits in transforming neighborhoods, supporting local economies, and fostering inclusive growth across South Carolina. These transformative achievements would not have been possible without the critical support provided by tax credit programs, which enable innovative solutions to address pressing community needs.

“South Carolina is brimming with opportunities to create meaningful change through strategic investments in tax credit programs,” said George L. Strobel II, Partner, Co-Founder and Co-CEO at Monarch Private Capital. “By partnering with Monarch, investors can achieve financial benefits while revitalizing communities, preserving historic landmarks, and addressing critical housing needs.”

Monarch invites investors to join in driving economic development, preserving history, and supporting affordable housing solutions across South Carolina.

Transformative Projects Across South Carolina

Sample Mill Projects

• Drayton Mills – Spartanburg: A flagship redevelopment of a historic textile mill into a vibrant mixed-use space for living, working, and dining.

• Cotton Mill Commons – Simpsonville: A revitalization project transforming a historic mill into a hub for community engagement, offering residential, retail, and event spaces.

• Lowenstein Building – Rock Hill: A centerpiece of Rock Hill’s Knowledge Park, blending history with modern innovation.

• Beaumont Mills – Spartanburg: A historic mill repurposed into a dynamic mixed-use space, preserving its heritage while fostering economic and cultural activity.

• Brandon Mill – Greenville: A historic mill tied to Shoeless Joe Jackson, now undergoing preservation and redevelopment.

• Converse Mill – Spartanburg: A historically significant mill showcasing the region’s textile heritage.

• Inman Mill – Spartanburg: A revitalized textile-era mill contributing to Spartanburg’s industrial growth.—

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Other Notable Historic Rehabilitation Projects

• Powell Furniture Building (Hotel Trundle): A beautifully restored building in downtown Columbia, now home to a boutique hotel that blends historic charm with modern amenities.

• Kress Building – Columbia: An architectural landmark and cultural icon in downtown Columbia.

• Curtiss-Wright Hangar – Columbia: A historic aviation site repurposed for modern use.

• Smoked Building – Columbia: A stylish redevelopment blending history with contemporary dining and retail.

• Rock Hill Powerhouse – Rock Hill: A cornerstone of Knowledge Park revitalization.

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Affordable Housing Projects

Over 30 affordable housing projects reflect Monarch’s commitment to addressing housing needs across South Carolina. Notable examples include:

• Villages at Congaree Pointe – Columbia, 240 units

• Shockley Terrace Apartments – Anderson, 258 units

• Magnolia Terrace – Rock Hill, 156 units

• 573 Meeting Street – Charleston, 70 units

• Gateway at Charleston – Charleston, 69 units

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Monarch Private Capital remains dedicated to identifying and investing in opportunities that drive economic development while addressing critical housing and preservation needs. Monarch currently has inventory available, offering a unique opportunity for investors to benefit from tax credit programs while supporting impactful projects. For more information about Monarch Private Capital and its impact investment funds, please contact Jay Sinsley at jsinsley@monarchprivate.com.

About Monarch Private Capital

Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.