Project Profile

The Centre at 501

162

Jobs Created

$2,736,737

Tax Impact

$6,885,518

Income Generated

$9,353,796

GDP Added

$18,313,638

Output Generated

The Centre at 501 in Springfield, Illinois was originally built in 1967 as the First United Methodist Church. The building stood as a historic downtown landmark for generations before being vacated in 2008.  The property was rehabilitated in 2019 utilizing federal Historic Rehabilitation and New Markets Tax Credits and now functions as a mixed-use development, offering residential 25 market rate apartment units and 1,400 square feet of commercial office space while preserving historic features. The Centre at 501 supports the growth and well-being of the Springfield community, ensuring its legacy remains a vital part of the city’s future.

Tax Credit Type:
Federal
Address:

501 E Capitol Ave
Springfield, Illinois 62701

Contact us for more information about impact investing, federal and state tax credits.