Mercantile Community Partners

Q: What makes Mercantile Community Partners (MCP) unique?

Mercantile Community Partners is relationship driven and partners with communities throughout each step of the financing process. The team specializes in structuring complex real estate transactions using multiple financing tools and incentives, brings over 10 years of tax credit experience, and is actively involved with local community organizations and industry events.

Mercantile Community Partners (MCP) is committed to strengthening communities through equity investments in Low-Income Housing Tax Credits and Historic Tax Credits to finance affordable housing and economic development projects. Established in 2023, as a wholly owned subsidiary of Mercantile Bank Corporation, MCP offers direct and proprietary fund investment options. Our team has the expertise to structure financing solutions for projects using various financing tools and incentives. We work together with developers and investor partners to provide a streamlined and customized approach to investment in community development.

Mercantile Community Partners (MCP) provides financial solutions to support community development and the growing need for affordable housing. As a wholly owned subsidiary of Mercantile Bank Corporation, MCP provides the expertise to expand our commitment to further enrich the communities we serve. Our team empowers communities by working together to navigate each step in the financing process.

Connect With The Team

87000000

Total Equity Committed

547

Affordable Housing Units

Michigan Counties

The Landing at Spring Lake
Spring Lake, MI

New construction of 53 affordable housing units.
Tax credit equity investment of $12.3MM
Construction financing of $10.2MM by Mercantile Bank
Development Team: Samaritas

Elmdale & Villa Esperanza - Mercantile Community Partners

Elmdale & Villa Esperanza Apartments
Grand Rapids, MI

Rehab of 59 existing affordable housing units.
Tax credit equity investment of $4.3MM
Development Team: Dwelling Place of Grand Rapids

Lexington School Apartments - Mercantile Community Partners

Lexington School Apartments
Grand Rapids, MI

Historic rehab and new construction into 39 affordable housing units.
Tax credit equity investment of $10.0MM.
Construction financing of $11.1MM by Mercantile Bank.
Development Team: Commonwealth Development.

Walter French Office & Childcare - Mercantile Community Partners

Walter French Phase II
Lansing, MI

Historic rehab of a former school into 30k st. of childcare and office space.
Tax credit equity investment of $1.2MM.
Construction financing of $3.4MM by Mercantile Bank.
Development Team: Capital Area Housing Partnership.

Annex Building 2 - Mercantile Community Partners

Annex Building
Sault Ste. Marie, MI

Historic rehab of 14k sf. into 11 affordable housing units.
Tax credit equity investment of $500k.
Construction financing of $3.3MM by Mercantile Bank.
Development Team: Community Housing Network.

Bonstelle Theatre
Detroit, MI

Rehab of the historic 32k sf. Bonstelle Theatre.
Tax credit equity investment of $1.3MM.
Development Team: The Roxbury Group.

What type of financing does Mercantile Community Partners (MCP) offer?

MCP and Mercantile Bank work together to provide an array of debt and equity products to serve as a “one-stop-shop” for owners and developers of affordable multi-family housing properties using Low-Income Housing Tax Credits (LIHTC) and developers rehabilitating historic buildings using Historic Tax Credits (HTC).

Products:

LIHTC - direct and proprietary fund investments
HTC - direct investments
Acquisition, predevelopment, bridge, and construction financing
Access to Federal Home Loan Bank of Indianapolis Affordable Housing Program Grants (AHP)

What services do Mercantile Community Partners (MCP) provide to investors?

MCP customizes our services for investors seeking to invest in LIHTC proprietary funds for Community Reinvestment Act (CRA) credit and/or economic benefits.

Services:

Project identification and origination
Project and proprietary fund underwriting
Assistance in the development of internal policies, procedures, and financial reporting
Asset and portfolio management – both equity & debt participation
Project exit management
Educational sessions for bank departments

What makes Mercantile Community Partners (MCP) unique?

Our team of professionals are relationship driven and empower communities to work together during each step of the financing process.
We are experts at structuring complex real estate transactions using various financing tools and incentives.
With 10+ years of tax credit experience, our team is respected for its disciplined underwriting and streamlined due diligence process.
We are actively involved with local community organizations and industry events.

Highlights

"One-stop-shop" for lending and tax credit investment
A team that's relationship and community-driven
We are experts at connecting affordable housing developers with financing tools and incentives
Our solutions provide a direct investment into community development projects on behalf of Mercantile Bank Corporation

Products

Acquisition and pre-development loans*
Construction financing*
Investment in Low-Income Housing Tax Credits (LIHTCs)
Investment in Historic Tax Credits (HTCs)
Access to Federal Home Loan Bank of Indianapolis Affordable Housing Program Grant (AHP)*

*Acquisition and development loans, construction financing and access to Federal Home Loan Bank of Indianapolis Affordable Housing Program provided through Mercantile Bank.

Emily Cauzillo

Vice President, Director

ecauzillo@mercbank.com
616.406.3787

Zac Fillmore

Officer, Portfolio Manager

zfillmore@mercbank.com
616.523.0952

Peter Scudder

Vice President, Financial Reporting Manager

pscudder@mercbank.com
616.726.5044

Mercantile Community Partners

Project Highlights

Your Partner In Community Development

The Landing at Spring Lake
Spring Lake, MI

Elmdale & Villa Esperanza Apartments
Grand Rapids, MI