Former historic elementary school in West Baltimore neighborhood transformed

U.S. Bancorp Impact Finance used New Markets Tax Credits to partially finance the award-winning Thurgood Marshall Amenity Center

U.S. Supreme Court Justice Thurgood Marshall hailed from Baltimore and served as the Court’s first Black member. In West Baltimore’s Upton neighborhood, Marshall obtained his elementary education alongside other notable African Americans at P.S. 103, Henry Highland Garnet School.

In spite of producing such an iconic alumnus, the school later closed and fell into decades of neglect. It wasn't until 2024 that it embarked on a new life with the grand opening of the Thurgood Marshall Amenity Center.

The center was partially financed by U.S. Bancorp Impact Finance and its partners through Federal New Markets Tax Credits (NMTC), including $9.75 million in NMTC allocation, plus Historic Tax Credit (HTC) investments.

Since its founding, U.S. Bancorp Impact Finance has provided $190.9 million in tax equity through 35 deals in the Baltimore-Columbia-Towson Metropolitan Area, with a total of $225 million in tax equity across the state of Maryland.

“Restoring historic African American properties in African American communities is vital,” said Dr. Rev. Alvin Hathaway, who serves as president and CEO of Beloved Community Service Corp., a nonprofit aiding underserved communities in Baltimore that Impact Finance worked with on project financing.

“We need to preserve, protect and promote these amazing assets,” Hathaway said. “We have restored the site for future generations to enjoy the elementary school attended by Justice Thurgood Marshall, and we are on track for it to become affiliated with the National Park Service as one of its assets to be called Justice Thurgood Marshall National Historic Site.”

The building, which recently received a 2024 Nonresidential Development award that Best Exemplifies Major Community Impact, is historically significant, designed by architect George A. Frederick, who also designed Baltimore’s City Hall, Lawyers Mall, the Rawlings Conservatory and several other renowned local buildings.

“U.S. Bancorp Impact Finance is honored to have worked with Beloved Community Services to finance The Justice Thurgood Marshall Amenity Center at PS 103,” said Impact Finance senior vice president Bill Carson.

“New Markets Tax Credits—especially when combined with Historic Tax Credits—are powerful tools for closing financial gaps in transformative projects when other capital sources fall short,” he said. “As a relatively small nonprofit organization with an outsized impact and stellar aspirations, Beloved Community Services used these tools to raise PS 103 from its deteriorated condition into a beacon of resilience. The resultant project is award-winning not only because of the beautiful adaptation of this historic school, but also because the BCS team created space for true innovation by welcoming new community services such as the Judge Alexander Williams Center for Law, Justice and Ethics and the BWI Thurgood Marshall Airport Aviation Careers Center, both of which will create new economic and social development opportunities for Upton residents.”

Hathaway was involved in every aspect of the project from conception through construction and now management.

“What was unique about this project is that, within this zip code, this was a proof of concept project that used the NMTC and HTC financial model,” Hathaway said. “We have set the standard for hopefully the many projects that will follow.”

Hathaway said the center is becoming an attraction that is bringing visitors, tourists and interesting opportunities to the community.

“If it weren’t for financing from U.S. Bank and the team going the extra mile, this project may not have come to fruition,” he said.