In support of its $1 billion pipeline and others, construction development and real estate firm Green Street St. Louis has formed Emerald Capital with Luke Pope and Matt Drinen. This establishes an affiliate that is focused on development projects in low-income communities.
With more than 25 years of combined experience in finance, tax credits, real estate and investments, Pope and Drinen have joined Emerald Capital to take the complexity out of accessing real estate tax credit programs, including New Markets and Historic Tax Credits and Opportunity Zone Developments. Pope and Drinen have more than $5 billion worth of transaction experience between them.
Emerald Capital will operate with Green Street and independently as it makes its services available to other developers, investors and organizations seeking assistance.
“Emerald Capital was created to provide access to incentives and investments for developments in low-income communities through lesser known alternatives that focus on creating jobs and services in these underserved areas,” said Pope, principal of Emerald Capital.
Emerald Capital functions as a conduit to capital resources for both for-profit and non-profit organizations. Also, Emerald Capital’s Community Development arm will provide financing to third parties through the New Markets Tax Credit program and other similar governmental and non-governmental programs.
“Our mission is to make complex incentives and unconventional financial products available and understandable to all clients,” said Drinen, principal of Emerald Capital. “Organizations should not shy away from accessing these programs because they don’t have a full staff to evaluate and manage the nuances and complexities associated with seemingly convoluted real estate transactions.”
