Recent BWC Capital Investments

CrossPlex Village (Phase I)

Investment: CrossPlex Village (Phase I)
Location: Birmingham, AL

Investment Participation: BWC Capital holds a minority ownership interest in CrossPlex Village (Phase I).

Project Summary
CrossPlex Village is a $21 million mixed-use economic development initiative that includes the use of subsidy financing via the federal New Market Tax Credit (NMTC) Program. The project includes a 101-room Comfort Inn & Suites hotel, a Starbucks Commercial Center that includes a restaurant, and a collection of four eateries (“Restaurant Row”). The CrossPlex Village project is currently under development on approximately nine acres of land in a highly distressed and underserved area in the western area of Birmingham, AL. The project sits adjacent to the CrossPlex – a world-class sport competition facility that houses one of the fastest indoor hydraulic tracks in the world (a 4,000-capacity spectator venue), an Olympic size swimming pool, a nine-volleyball court venue, a 5,000-seat basketball arena, an indoor natatorium seating of 1,600, and a platform to develop many other sports.

CrossPlex Village builds onto the more than $50 million that the City of Birmingham has invested to create a sports destination venue that can serve as the economic engine and catalyst to redevelop the City’s western area – which is home to predominantly African American residents. This project is anticipated to drive substantive economic impacts for its low-income community (LIC) and people (LIP) in the area. CrossPlex Village will also provide visitors to the CrossPlex sports venue with hospitality, eateries, and retail options, and will no longer require travel away from the venue to downtown Birmingham and other areas of the City in order to enjoy such amenities.

The Shadow League

Investment: The Shadow League (TSL)
Location: New Jersey (anticipated relocation to Bronx, NY)

Investment Participation: BWC Capital holds a minority ownership interest in The Shadow League.

Project Summary: With its launch in 2012 by media veteran, Keith Clinkscales, The Shadow League® (TSL) became the first digital publisher entity devoted to sports and pop culture journalism that is infused by a distinct cultural perspective. The mission of this minority-owned and led business is to inform and educate sports fans worldwide through a cultural, refreshing, professional, journalistic approach to sports coverage. Guided by a vision to continually drive cultural impacts and increased awareness of race, sports and life in provocative, sensitive and truthful ways, TSL’s web-based digital platform generates revenue from three main revenue streams: Event Sponsorships, Premium Services, and Programmatic Services.

Total gross revenue for TSL is projected to reach $1.6 million and TSL anticipates that successful execution of its business growth strategy will increase gross revenue to more than $5 million within five years.

TSL milestones and accomplishments, to date

• Experienced growth across all key user and engagement metrics during 2016.
  • Eighty five percent (85%) increase in website views, with a 52 percent increase in unique webpage visits.
• In December 2016, TSL experienced more than 2 million monthly unique visitors, its highest monthly performance to date.
• Eighteen percent (18%) increase in Facebook users, 13 percent increase in Twitter users, and 12 percent increase in Instagram users.

• Developed three original programming series
  • Launched three podcast programs
  • Created four annual events and original programing event series
  • Secured partnerships with more than 20 brand partners