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McCormack Baron Salazar and Goldman Sachs: A partnership for the "revitalization of urban neighborhoods on a national scale"

On May 10, 2010, McCormack Baron Salazar and The Goldman Sachs Urban Investment Group (“Goldman Sachs UIG”) announced a strategic partnership and shared vision for the future of rebuilding distressed communities across the country.

The partnership combines the vast experience of the urban-inner city developer with a firm known for its financial expertise and commitment to community development. When combined, the strength of these two national firms has the ability to significantly impact the revitalization of low-to-moderate income urban communities.

The partnership builds upon the strength and experience of McCormack Baron Salazar’s 35 years of development success and combines it with Goldman Sachs UIG’s desire to expand their focus on investing in urban America.

Goldman Sachs’ partnership interests with McCormack Baron Salazar began with its equity investment in McCormack Baron Salazar’s revitalization of C.J. Peete, a HOPE VI site in New Orleans, Louisiana. The $172 million, 460-unit redevelopment, was designed to replicate a traditional New Orleans neighborhood and in February 2010, both firms welcomed the first returning residents to the new community, now called Harmony Oaks. 

Goldman Sachs UIG is also the equity investor in MacArthur Park, a transit-oriented development in Los Angeles that opened in 2012.  MacArthur Park is located on land adjacent to the METRO Westlake/MacArthur Park Station and includes 90 apartment homes and approximately 15,000 square feet of ground floor retail. The project includes a public plaza that links pedestrians to the Metro station portal, the public commuter garage, and neighboring local bus lines.

To learn more about Goldman Sachs UIG, visit http://www.gs.com/uig.

McCormack Baron Salazar and Goldman Sachs: A partnership for the "revitalization of urban neighborhoods on a national scale"

On May 10, 2010, McCormack Baron Salazar and The Goldman Sachs Urban Investment Group (“Goldman Sachs UIG”) announced a strategic partnership and shared vision for the future of rebuilding distressed communities across the country.

The partnership combines the vast experience of the urban-inner city developer with a firm known for its financial expertise and commitment to community development. When combined, the strength of these two national firms has the ability to significantly impact the revitalization of low-to-moderate income urban communities.

The partnership builds upon the strength and experience of McCormack Baron Salazar’s 35 years of development success and combines it with Goldman Sachs UIG’s desire to expand their focus on investing in urban America.

Goldman Sachs’ partnership interests with McCormack Baron Salazar began with its equity investment in McCormack Baron Salazar’s revitalization of C.J. Peete, a HOPE VI site in New Orleans, Louisiana. The $172 million, 460-unit redevelopment, was designed to replicate a traditional New Orleans neighborhood and in February 2010, both firms welcomed the first returning residents to the new community, now called Harmony Oaks. 

Goldman Sachs UIG is also the equity investor in MacArthur Park, a transit-oriented development in Los Angeles that opened in 2012.  MacArthur Park is located on land adjacent to the METRO Westlake/MacArthur Park Station and includes 90 apartment homes and approximately 15,000 square feet of ground floor retail. The project includes a public plaza that links pedestrians to the Metro station portal, the public commuter garage, and neighboring local bus lines.

To learn more about Goldman Sachs UIG, visit http://www.gs.com/uig.