Consulting & Investments

Proven Track Record

Past Projects

 

Classic Lake has facilitated the placement of over $350 million of investment, providing critical financing for over two dozen community and economic development projects from new construction to adaptive reuse and historic rehabilitation across the country. Classic Lake provides supportive services to municipal agencies, real estate and housing developers, small businesses, healthcare and education institutions, fresh grocers, non-profits, and financial services firms, enabling them to bridge capital gaps. Classic Lake also works with developers to increase outreach and hiring of minority- and women-owned businesses to address workforce equity.

Project Locations

 
 
Oakwood University - Huntsville, AL

The $8.5 million New Markets Tax Credit (“NMTC”) investment with Oakwood University’s will be used to finance the construction and renovation of property critical to Oakwood University’s Healthy Campus 2020® program, a strategic initiative established in 1995 in effort to address poor health outcomes and preventable diseases among students and, amended in 2020, to more broadly help address health, food and job insecurity faced by the minority low-income residents of Northwest Alabama. NMTC partners collaborating with HOPE on this investment include Pathway Lending, Gulf Coast Housing Partnership, Truist Bank and Truist Community Capital. This NMTC financing will directly support the following construction activities: 1) Development of the Community Health Action Center which will tackle medical and food inequities in the community; 2) Expansion of the Market which will increase space by 39.5% for fresh foods, and other local goods; and 3) Renovation of the Peters Music Hall which upon completion will provide a vibrant and high-level arts program to both students and the Huntsville community’s low-income residents.

https://oakwood.edu/

San Diego Rescue Mission - San Diego, CA

The San Diego Rescue Mission, founded in 1955, is a non-profit faith-based provider of premier residential services to homeless men, women and children. The San Diego Rescue Mission uses a holistic approach to recovery, focusing on the needs of the mind, body, and soul. Students of Mission’s Academy confront and overcome the problems that leading to homelessness. The NMTC financing is being provided to support the missions 12-month residential program for men, women and single parents helping to get people back on their feet, kids back in school, and bring hope back into the lives of men, women and children in the City of San Diego.

https://www.sdrescue.org/

Lauderdale Community Hospital - Ripley, TN

Lauderdale Community Hospital, a Critical Access Hospital (“CAH”), is replacing an existing healthcare facility by constructing and equipping a new 35,000 square foot 15 bed community healthcare facility. The existing facility was originally built in 1983 and has decayed in appearance while also lacking updated equipment and state of the art services. The deterioration of the facility has caused patients residing in the service area to travel or commute outside of the service area for service. The facility will include a 600 square foot pharmacy. The goal of this CAH replacement hospital is to provide quality healthcare to the residents in the low-income community and surrounding area. CAHs provide essential access to high-quality healthcare in rural communities. They represent more than 2/3 of all rural hospitals and are vital for ensuring the health of communities that may not have access to larger facilities. Project will provide critical healthcare access that will accommodate outpatient services, which is currently unavailable in this highly distressed rural community. As invasive medicine has evolved into technological healthcare, these facilities do not presently accommodate outpatient services, the upgraded clinical and diagnostic testing equipment, nor the technologies required to maintain today’s rural patient communities. So, the goal is to provide more and better services in a smaller more efficient space.

https://www.lauderdalehospital.org/

Detroit Food Commons - Detroit, MI

The Detroit Food Commons (“DFC” or “Project”) development is a mixed-use community center comprised of retail, office, and educational spaces. Located in Detroit’s North End on the SE corner of Woodward and Euclid this project sits on an incredibly important corridor that connects the core business district with surrounding neighborhoods.

Detroit Food Commons is established with the goal of breaking down barriers to fresh and healthy foods while simultaneously providing infrastructure and technical assistance to small businesses focused on the delivery of fresh foods to underserved and underfed communities throughout Detroit. The Project will be home to a cohort of entrepreneurs, doers, and community leaders focused on increasing access to healthy, sustainably grown food while building community ownership and empowerment. 

The DFC is a collaboration between two local non-profits: Detroit Black Community Food Security Network (“DBCFSN”), a non-profit focused on improving food security and access to healthy food options; and Develop Detroit, a non-profit real estate development company sponsored by the Housing Partnership Network founded to stabilize and revitalize neighborhoods weakened by the decades-long economic decline in Detroit.

Omni Family Health - Delano, Bakersfield, CA

Omni Family Health is a network of state-of-the-art Federally Qualified Health Centers located throughout Kern, Fresno, Kings and Tulare Counties. Omni provides a full range of primary and preventative care and supportive services in the areas of medical, dental and behavioral health, chiropractics, laboratory and pharmacy services. Omni is undertaking an $18.4M development to expand capacity and improve the delivery of services. Omni is developing 2 new clinics in Delano and Bakersfield, California totaling 41,664 square feet and rehabilitating 10,256 square feet of medical space in Fresno, California. The investment creates 251 full time jobs and the new clinics will collectively serve 144,000 patients annually, regardless of their ability to pay. 

omnifamilyhealth.org

Memphis Union Mission - Memphis, TN

Classic Lake on behalf of HOPE Enterprise Corporation (“HOPE”) closed a $14,000,000 New Markets Tax Credit (“NMTC”) investment in support of Memphis Union Mission’s (“MUM”), The Opportunity Center, Phase 2 on March 14, 2022.

Located at 383 Poplar Avenue in Memphis, Tennessee, Phase 2 entails the new construction of a 21,270 square foot secure access facility that includes space for between 104 and 112 beds, a large community room, circulation areas, and two counseling offices. Phase 2 also includes the development of a large gathering area with seating, tables, and an exterior courtyard. The Project will allow MUM to provide emergency shelter to 2,000+/- homeless men annually, combined with supportive services including meals, clothing, residential recovery for substance abuse, referrals to long-term recovery, counseling, and housing referrals. Many of the beds in the Project will be used for emergency, “transient basis,” services (“Shelter Beds”). These Shelter Beds are those occupied for less than 30 days at a time. Individuals using Shelter Beds will also be participating in MUMs recovery programs. Recovery programs are nonclinical services that assists individuals and families working toward sustained recovery from substance use and other criminal risk factors.

Classic Lake negotiated significant community impacts that align with HOPEs Deep South Economic Mobility Collaborative and Supplier Diversity Initiative to include:

  • Memphis Union Mission commits to using best efforts to add at least 2 Black members to its Board of Directors within the 7-year compliance period.

  • Five of the construction subcontractors will be Minority and Women Owned businesses.

  • At minimum, 35% of future purchases of materials, services, and contracts will be awarded to Minority-Owned and Women-Owned Businesses.

https://www.memphisunionmission.org/

Martin Luther King Jr. Community Hospital Wellness Center - Los Angeles, CA
 
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Martin Luther King, Jr. Community Hospital (MLKCH) is a private, non-profit, safety-net hospital providing inpatient and emergency care in South Los Angeles County. Since opening in 2015, MLKCH has hired over 1,000 employees and serves over 70,000 patients in South Central Los Angeles annually. The hospital is working with the County of Los Angeles and Trammell Crow (contracted developer) to design, construct and operate a $32.5 million, 49,000 square foot medical office and wellness center on the MLK Medical Campus. The facility is co-anchored by an Ambulatory Surgical Center and the MLKCH Primary Care Medical Group (a Non-Profit Medical Group for Doctors serving South Los Angeles) and its Advanced Care Program. The Wellness Center also houses independent specialists including women and children’s health, behavioral health, general surgery, orthopedics, ophthalmology, urology, rheumatology, pulmonology, and oncology. The building will also provide the community with access to imaging and laboratory services, and a retail pharmacy. The Center creates 250 full-time healthcare jobs and serves over 49,000 patients annually.

mlkch.org/home

"Kyle Walton of Classic Lake Consulting was an essential partner in every phase of this transaction.  From the intake and marketing phase to allocation notification to transaction closing, Kyle did an excellent job assisting MLKCH in completing this transaction.  A major strength of Kyle’s is explaining the New Market Tax Credit program to lay audiences.  Kyle worked with the Board of Directors of both the hospital and our fundraising foundation to thoroughly explain and justify the benefits of a participating in New Market Tax Credit transaction.  We strongly recommend Kyle as a consultant for community-benefit transactions." 

-Dr. Elaine Batchlor, MD, CEO, Martin Luther King, Jr. Community Hospital

United Health Centers of the San Joaquin Valley - Kerman, Orange Cove, Leemore, Tuolumne, CA

United Health Centers of the San Joaquin Valley is a Federally Qualified Health Center providing comprehensive medical, dental, and community health services to the medically underserved in California’s central San Joaquin Valley. In an effort to expand capacity and increase access to healthcare for low-income families, the organization is opening new facilities in the Cities of Kerman, Orange Cove, Leemore, and Tuolumne, while also rehabilitating existing facilities in the Cities of Mendota and Parlier, California. The project will develop space for primary care, mental health, chiropractic, and dental services. United Health Centers delivers over 190,000 medical, dental, and other service encounters per year. United Health Centers accepts various modes of payment including Medi-Cal, Medicare, and private insurance. Services are provided to patients without insurance on a sliding-fee-scale according to the patient’s ability to pay.

unitedhealthcenters.org

UHC contracted with Kyle Walton of Classic Lake Consulting to assist UHC’s management on this complex transaction. Kyle’s vast knowledge of the program made it easier to close the NMTC transaction on time. UHC highly recommend Kyle as a consultant for providing advisory in NMTC financing to non-profit organizations”

-Jesús Rafael Maldonado, CFO, United Health Centers of the San Joaquin Valley

Cristo Rey St. Viator - North Las Vegas, NV

In March 2020, the COVID-19 pandemic abruptly halted all revenues to Cristo Rey St. Viator College Preparatory High School (Cristo Rey). Cristo Rey’s mission focuses on educating students with limited economic means. The schools’ student body is 95 percent minority and over 80 percent qualify for Federal Free and Reduced Lunch Program. Tuition for each student is based on a family’s economic ability to pay. Seventy five percent of students pay less than $1,000 in annual tuition while the cost to serve a student averages $28,500. Currently, tuition payments only contribute 3-4 percent of Cristo Rey revenues.

“We are committed to serving low-income students and their families,” said Br. Carlos Flórez, C.S.V., Director of Admissions and Recruitment. “With the State NMTC investments, we will be able to continue growing our program and achieving the high rates of college enrollment that our program attains.”

The COVID-19 pandemic forced Cristo Rey identify new sources of capital to support its growth and staffing plans. Capital from the State of Nevada’s New Markets Tax Credit (“NMTC”) program played a critical role. The NMTC investment closed on June 17, 2021) and will directly support enrollment doubling from 157 students to over 300 students by Fall 2022 as well as increase employment by 67 percent from 37 full-time equivalents to 62 within 24 months.

Programmatically similar to the Federal NMTC program, the State of Nevada’s NMTC program was established to help attract private capital investment into low-income communities. Cristo Rey is located in a community where 34% of the population falls below the poverty line and unemployment is 21%. In 2019, network-wide, 92 percent of students graduating from a Cristo Rey affiliate school enrolled in a 2- or 4-year college, a rate 1.5 times low-income high school graduates nationally (61 percent) and higher than high-income high school graduates (86 percent). Cristo Rey graduates are also 3 times more likely to complete a bachelors degree by age 24, compared to the total U.S. low-income population.  Motivated by the positive economic and social impact expected from the growth of Cristo Rey, a cohort of partners including Stonehenge Nevada, Clearinghouse CDFI, Urban Action Community Development LLC, Pacesetter CDE, AMCREF Community Capital, and U.S. Bancorp Community Development Corporation collaborated to facilitate a $11,764,706 NMTC investment into the school.

Madera Unified School District Career Technical Education School - Madera, CA

Madera Unified School District (“MUSD”) serves students from the rural Madera community. 89% of MUSD students are from low-income families, 94% are minorities, 90% Hispanic. The $38.6 million, 42,809 SF development is comprised of high-tech laboratories and interconnected classrooms, an equipment shop, a 95-seat lecture room, and student area. The school will serve 1.080 students daily, introducing middle school students to Career Technical Education pathways in: Agriculture and Natural Resources; Manufacturing and Engineering; Health Science and Medical Technology; Digital and Performing Arts; Business/Entrepreneurship; and Public Safety.

Boys and Girls Club of Southern Nevada - Las Vegas, NV

Boys and Girls Club of Southern Nevada’s (BGCSNV) provides youth with access to targeted, proven programs designed to assist with academic success, good character and citizenship, and healthy lifestyles. BGCSNV fills the gap between school and home, providing safe environments, life-changing programs, and supportive relationships to youth and families throughout Southern Nevada. Financing is being provided to support operations at 13 clubhouses in the cities of Las Vegas, North Las Vegas, and Henderson, Nevada.  

https://www.bgcsnv.org/

Angelique Poisson
Merced County Rescue Mission - Village of Hope - Merced, CA

The Merced County Rescue Mission strives to permanently improve the lives of those in Merced County, California who are homeless, have been incarcerated, or are imprisoned by their own addictions. The financing provided will be used to jumpstart construction of Village of Hope, a multi-building multi-phase campus development intended to increase access to healthcare, transitional housing, and supportive services for Merced’s most vulnerable. Golden Valley Health Centers will operate the healthcare space, providing respite and behavioral health services to Village of Hope residents and non-residents. The transitional housing in Phase I is available for homeless veterans and homeless families. The project is part of a larger coordinated effort between the City of Merced, the County of Merced, and the State of California to address issues surrounding homelessness.

https://www.mercedcountyrescuemission.org/

Alliance for Medical Outreach and Relief - Fresno, CA

The AMOR Wellness campus is a multi-structure ecofriendly campus in West Fresno County designed to provide various health and wellness services through a consortium of Community Benefit Organizations. The campus will provide wholistic services focused on mental and physical health, education, and supportive services to low-income children and families from the rural communities surrounding Fresno (Mendota, Firebaugh, San Joaquin, Tranquility). The 20,000 SF AMOR Wellness campus houses multiple tenants including Madera Community Hospital, Fresno Dept of Behavioral Health, United Way, West Hills Community College, and various non-profits providing diverse supportive services.

https://amorelief.org/

Three Square Food Bank - North Las Vegas, NV
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Three Square Food Bank is Southern Nevada's only food bank serving communities wherein more than 271,000 residents are considered food insecure. The organization has acquired and is rehabilitating a 32,370 square foot warehouse. The facility will house Three Square’s Senior Hunger Program, its Benefits Outreach Services which facilitates the Federal Supplemental Nutrition Assistance Program, its Emergency Food Assistance Program, and its call center. The facility will serve 54,600 seniors and 65,000 additional residents annually and 15,000 students daily. The facility will create 5 new full-time positions and retain 19 full-time employees.  The first federal transaction financed construction of the food bank facility, then the state and federal transaction financed working capital to provide the food.

threesquare.org/

"As the only food bank serving all of Southern Nevada, it is Three Square's mission, privilege and challenge to provide wholesome food to hungry people, while passionately pursuing a hunger-free community. What this means, in practical terms, is marshaling the financial, capital and human resources needed to provide 46 million nutritious meals every year. Recently Three Square was able to leverage a New Market Tax Credit investment, enabling us to provide millions of additional meals to Southern Nevadans in need.  The process was daunting; however, we were extremely fortunate to have the expertise of Kyle Walton to assist and advise us from beginning to end. Kyle's ability to break down a complex transaction into clear and simple steps was critically important to communicating the New Market Tax Credit requirements and benefits to our key donors and Board of Directors.  Kyle has the experience, knowledge and vision to bring big projects to close. He also demonstrated a genuine passion for Three Square's work, and food-insecure Southern Nevadans will have access to significantly more nutritious food because of him. Without hesitation I would recommend Kyle Walton and Classic Lake Consulting for anyone seeking investment structuring and advisory services."

-Tifani Walker, Chief Financial Officer

Cristo Rey St. Viator High School - Las Vegas, NV
 
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The Cristo Rey Network comprises 32 independent Catholic high schools across 21 states and the District of Columbia, all committed to the education of America’s disadvantaged youth. The network has 20 years of experience serving young men and women from economically disadvantaged communities and families, helping to guide and support healthy life trajectories through education.

The newest addition to the network is Cristo Rey St. Viator and its 98,000 square foot educational campus in North Las Vegas, Nevada. Cristo Rey St. Viator builds upon the network’s history of equipping low-income students with the knowledge, character, and skills to transform their lives. Cristo Rey graduates currently earn four-year Bachelors degrees at more than twice the rate of high school graduates from low-income families nationwide. Eighty eight percent of 2016 Cristo Rey graduates enrolled in college. Cristo Rey Network students are 58% female, 61% Latino, 30% Black, and 100% are low income.

cristoreystviator.org

"Kyle Walton is an incredibly experienced and knowledgeable professional in many areas of finance.  His New Markets Tax Credit expertise, in particular, has been invaluable to our firm and our clients. His knowledge of complex requirements coupled with his patient, deliberate style brings clarity and certainty to the work at hand.  We look forward to many more successful projects with Kyle." 

-James A. Barrett Jr., President, JABarrett Company

Heritage Housing Partners - Pasadena, CA
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Heritage Housing Partners, a non-profit housing developer, is revitalizing six vacant and/or underutilized parcels located at the corner of Lincoln and Orange Grove in Pasadena, California. The site, currently occupied by an abandoned automotive repair shop and gas station and anchored by a liquor store, will be transformed into Summit Grove - a 70,000 square foot mixed-use housing and Class A commercial facility, creating 46 affordable for sale units, 83 subterranean parking spaces, and 11,683 SF of retail, office and community space in the neighborhood. Housing units will be sold to low-income (up to 80% AMI), moderate-income (up to 120% AMI) and workforce-income (up to 135%) households. The commercial space will be occupied by 3-4 small businesses and/or nonprofit organizations.

hhphousing.org/portfolio/summit-grove/

Charles R. Drew University for Medicine and Science - Los Angeles, CA
 
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Charles R. Drew University of Medicine and Science, in coordination with APLA Health, is developing the 10,000 square foot health center in the Willowbrook/Watts community. The University is a Historically Black Graduate Institution focused on cultivating diverse health professional leaders dedicated to social justice and health equity for underserved populations. APLA Health, a Federally Qualified Health Center, is the largest provider of HIV health education and prevention services in Los Angeles County. The health center is APLA’s first dedicated Sexual Health & Wellness clinic, serving gay, bisexual, and transgender men. The center will serve 1,900 medical patients; 665 dental patients; and 325 behavioral health patients annually. The center will also create approximately 30 full time equivalent positions. 

aplahealth.org/cdu-mlk/

Helping Up Mission - Baltimore, MD
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Helping Up Mission, Inc. is developing the House of Freedom, a 131,557 square foot one-year residential substance abuse recovery center. Located in the Jonestown neighborhood of Baltimore, it will serve women and children fighting poverty, homelessness, and addiction. In addition to the recovery center, the facility will also house: an emergency overnight shelter; a commercial kitchen and dining hall; a clothing and toiletry distribution center; a primary, dental and mental health facility; classrooms and a workforce development and education center; counseling rooms; recreational space; and administrative offices. The facility will serve over 300 women and children annually, providing: housing; case management; drug and alcohol screening and counseling; healthcare; childcare; job training; financial literacy, credit counseling and repair; and life skills training. The facility will also create 15 full-time and 15 part-time jobs. 

helpingupmission.org

North Florida School of Special Education - Jacksonville, FL
 
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North Florida School of Special Education serves students with intellectual and developmental differences. The school provides essential academic, vocational, and social skills education designed to address a variety of disabilities in structured curricula that culminates in self-sufficiency. Forty two percent of students are from low-income households. Financing was provided to reshape the campus including: construction of a 32,000 square foot facility that houses classrooms, therapy rooms, a library, a fine arts complex, a full-sized gymnasium and a commercial teaching kitchen; construction of an equine therapy facility; and upgrades to existing campus facilities. The project creates 41 new full-time jobs and serves 190 students and 70 post-graduates annually. 

northfloridaschool.org

"We engaged Mr. Walton to assist with the financial underwriting, data analysis, and due diligence review during a particularly busy time for our staff. Drawing on his experience working for Community Development Entities, investors, and for sponsors, Mr. Walton stepped right in and took the lead on the project. His diligence in underwriting, collecting and analyzing data, and dedication to quality were immediately evident. During the engagement, Mr. Walton became an integral part of our project team and was an excellent representative of our organization. In addition to our positive experience, other transaction participants also recognized his expertise and ability to move the transaction forward."

-Brian Oxford, New Markets Manager, CAHEC

 
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