TxCDC and Waveland Community Development Allocate $45 Million New Markets Tax Credits to El Paso’s Mills Building

The historic  Mills Building, which had part of its renovation paid for by $45 million in New Markets Tax credits from TxCDC and Waveland Community Development,  now boasts a pedestrian-friendly ground floor and a striking new facade that will surely draw each walker to stop and marvel at its splendor. The 12-story, 138,000-square-foot structure dates back to 1911 when it was among the tallest monolithic concrete buildings in the United States. Vacant for years, the Mills Building was part of a $67 million redevelopment and now houses the U.S. Department of Homeland Security and El Paso Passport Agency and its 30 new employees. The premium location will soon add retail shops, restaurants with banquet facilities, a coffee shop and corporate offices. The Mills Building’s occupants will contribute approximately 695 total jobs to the El Paso community.

A special thanks to USBank for participating in this transaction.