Houston Food Bank
We secured and managed the closing of $85.5 million in NMTC allocation to support construction of an innovative 310,000-SF community hub anchored by Houston Food Bank, a nonprofit addressing food insecurity across an 18-county region in Texas.
Houston Food Bank
NMTC for Projects
Houston, TX
Houston Food Bank’s new facility addresses the social determinants of health by co-locating mission-driven organizations in a one-stop destination for coordinated services. The facility includes a second warehouse and distribution center for the food bank, a federally qualified health center, a full-service YMCA, dedicated space for nonprofit partners, a community lobby with a food hall featuring local vendors, and a commercial kitchen for culinary training.
Work Completed
Assembled $85.5 million in NMTC allocation from eight CDEs, including seven national CDEs and one Texas-focused CDE
Worked closely with Houston Food Bank staff to leverage NMTC allocation to unlock grant funds and other funding sources
Coordinated multiple in-person site visits for CDEs to showcase community need, project highlights and impacts, and local support
Secured top-of-market NMTC equity pricing and favorable deal terms
Structured bridge financing, budget and closing timeline to minimize interest costs
Led the closing process and coordination across eight NMTC parties to ensure the target closing timeline was achieved
Results
Supported by our partnership, Houston Food Bank successfully closed on NMTC financing — the largest NMTC transaction for a food bank. The subsidy generated was essential to filling a significant funding gap, allowing the project to move forward. Construction commenced in summer 2026.
Testimonial
Chinelo Aralu, Chief Financial Officer, Houston Food Bank
“Working with the SB Friedman team was fundamental to Houston Food Bank's success in raising NMTC funding. SB Friedman was able to secure tax credits that surpassed our goals, and facilitated a smooth and timely closing process. We would undoubtedly turn to them again.”
Featured Impact Numbers
275 million pounds
Increased food distribution capacity annually to 350,000+ individuals by 2030
5,900
Patients served by new healthcare capacity
13,600
Clients served by new social service capacity
250
Permanent jobs created
30
Permanent jobs retained