Cost: $26.9 million

BCCC NMTC allocation: $10 million

Sponsor: JCG Development

Investor: US Bank

Location: San Diego County, CA

Description: The Lafayette Hotel project (Lafayette) consists of the rehabilitation of a historic hotel. Lafayette was the first historic hotel in San Diego to receive an Energy Star rating. Lafayette was turned down by approximately 50 lenders before obtaining NMTC financing. Lafayette received historic tax credits and $2.4 million from the City of San Diego demonstrating their strong support.