Arctaris Leads $30M Opportunity Zone Investment to Transform Baltimore’s Shuttered Embassy Suites Into Affordable Housing

Arctaris is pleased to announce an equity investment in a $30 million opportunity zone hotel-to-residential conversion opportunity in downtown Baltimore. Arctaris Impact's investment will be used to convert a formerly abandoned hotel into a vibrant 303-unit multifamily development, addressing the city's pressing housing shortage. The transaction marks Arctaris Impact's fifth investment in Baltimore. You can read more about the transaction here.

Opportunity Zones Are a Big Success. Let’s Make Them Bigger

Opportunity Zones have already invested over $100 billion in struggling communities, creating vibrant urban areas and new job opportunities. Now is the time to expand and make this initiative permanent. By expanding the program, Opportunity Zones have the potential to generate even greater economic growth and provide more benefits to underserved areas. Arctaris Managing Partner, Jonathan Tower, and Steve Glickman, co-founder and former CEO of the Economic Innovation Group, propose several ways to grow and enhance the already effective and impactful program. Let's make Opportunity Zones a lasting solution for America's most neglected communities. You can read the full whitepaper, originally published by Governing Magazine, here

Saddleback Mountain Annual Impact Report: Investing in Jobs, Housing, and Sustainability

Saddleback Mountain and Arctaris Impact Investors have just released Saddleback's first Impact Report, and the results are impressive – on par with the legendary ski experience that has earned its recognition as Maine’s favorite mountain for three years in a row and also SKIMagazine’s #4 best resort in all of North America. Over the past four years, Arctaris Impact Investors has invested over $42M in SaddlebackMountain, breathing new life into the mountain and helping revitalize the surroundingcommunities in Western Maine. This investment has fueled significant positive activity, including: 240+ new jobs New workforce housing with 80 beds 7.5-megawatt solar farm 4 new chairlifts and snowmaking upgrades The Nest: New England’s highest altitude restaurant and event space The Saddleback Mountain Impact Report highlights the Mountain’s progress to date since its re-opening in 2020 and highlights the importance of the ongoing sustainability of this economic,recreational, and cultural asset. This success story is a testament to the power of partnership. Arctaris Impact Investors, theFinance Authority of Maine, foundation partners, and the Rangeley community have cometogether to make a real difference in Western Maine. ►View the Saddleback Impact Report Here

Arctaris Impact Investors Provides Key Financing for Growing Baltimore Organization

BALTIMORE--(BUSINESS WIRE) -- One July 25, 2024, Arctaris Impact CDE closed a New Markets Tax Credit (NMTC) transaction with Fearless Talent, LLC (dba Fearless Guides), a division of Fearless, a minority-owned company located in a Baltimore census tract with a 26.4%1 poverty rate. The NMTC financing will be directed to working capital that will create 50 jobs, all of which will pay above a living wage and be accessible to those without a college degree. The working capital will also enhance the community impacts provided by their business accelerator program, Hutch. Read More

Arctaris Impact Investors Recapitalizes $7.3M Cold Storage Facility in Pennsylvania Opportunity Zone | Business Wire

Arctaris Impact Investors and RDC will rehabilitate the facility for a new tenant, County Executive Innamorato to provide funding to support tenant improvements. Click here to read more.

KeyBank Community Development Makes Strategic Investment in Arctaris to Expand Business Lending for Disadvantaged Communities Nationally

BOSTON--(BUSINESS WIRE)--Arctaris Impact Fund, LP (“Fund”), the flagship debt fund of Arctaris Impact Investors, LLC (“Arctaris”), has obtained a new $10 million warehouse line of credit (LOC) with KeyBank Community Development Lending and Investment (CDLI) through its Community Development Financial Institutions (CDFI) Group. Click here to learn more

Arctaris Impact Investors Completes Additional Growth Equity Investment in Up To Date Laundry, Sustaining Quality Jobs in Baltimore

BALTIMORE & BOSTON--(BUSINESS WIRE)--Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a follow-on growth equity investment in Up To Date Laundry (“UTD”). One of the largest healthcare laundry facilities on the East Coast, UTD provides laundry services to healthcare providers across the mid-Atlantic, including University of Maryland Medical System, Johns Hopkins, and Einstein Medical Center. The investment in UTD is part of the Arctaris Baltimore Program, a $25 million commitment to invest in Baltimore’s underserved neighborhoods, created in partnership with The Abell Foundation and Neighborhood Impact Investment Fund (NIIF) and with support from Erie Insurance (ERIE) through its investment in the Arctaris Opportunity Zone Funds. Click here to learn more

Arctaris Impact Awarded $30M of New Markets Tax Credit Allocation by U.S. Treasury’s CDFI Fund for Diversity and Impact Investments

BOSTON--(BUSINESS WIRE)--Arctaris Impact CDE, LLC was awarded $30M of New Markets Tax Credit Allocation (NMTC) by U.S. Treasury’s Community Development Financial Institution Fund to deploy capital into economically distressed communities and businesses. Arctaris will use its NMTC allocation to make flexible loans to minority-owned or controlled companies and other borrowers across real estate or operating businesses in the country. Click here to learn more