TxCDC and Waveland Community Development Allocate $25.5 Million New Markets Tax Credits to Houston Dynamo Stadium

TxCDC and Waveland Community Development are pleased to announce that they have allocated $25.5 million in New Markets Tax Credits to the Houston Dynamo Stadium, located in Houston, Texas.   The new Dynamo stadium is a state-of-the-art, open-air stadium designed to host Dynamo matches, Texas Southern University football games as well as additional sporting and concert events.  The 22,000-seat stadium is the first soccer-specific stadium in Major League Soccer that is located in the center of a major metropolitan city.

With its downtown location, the new stadium will be part of a true stadium district, which already features Minute Maid Park (home to the Houston Astros) and the Toyota Center (home to the Houston Rockets), as well as the George R. Brown Convention Center.  The new Dynamo stadium will create more than 1,500 jobs within the city of Houston.

A special thanks to Wells Fargo for participating in this transaction.