Promises2Kids

San Diego, California

Investment
Highlights

2026

Year

$29.3 million

Development Budget

$25 million

Allocation Sourced

617

People Served Annually

Client
Promises2Kids

Use of Allocation Capital
Real Estate Development

Promises2Kids has served children and youth impacted by the San Diego County foster care system since 1981. Its programs follow young people from the moment they enter the system through their transition into adulthood, offering behavioral health services, sibling reunification, educational and career support, and other wraparound services.

To expand services and impact, Promises2Kids acquired a 33,325 sq. ft. property and is renovating it to centralize the organization's programming and expand its capacity to serve foster youth.

The renovated facility is anchored by Promises2Kids’ new early childhood education center which serves children ages 0-5 in a county suffering from lack of access to affordable, high quality early childhood education programming. The new building will allow Promises2Kids to expand its offering of behavioral health services, including trauma-informed therapy and counseling, all offered at no cost. The new Promises2Kids facility will also house its workforce development program which connects foster youth to careers in healthcare, education, IT, construction, and other high-demand fields through job training, one-on-one case management, and partnerships with local employers. Upon completion, the building will offer community rooms for parenting classes, space for co-located partners serving foster families, and offices for mentorship and case management.

On behalf of Promises2Kids, Classic Lake secured $25 million in Federal New Markets Tax Credit allocation from Civic Community Partners, tax credit equity from US Bancorp, and debt financing from EntreBank.

Services Provided by Classic Lake:

  • New Markets Tax Credit Advisory

Community and Economic Impacts

  • Creates 40 construction jobs

  • Creates 16 new and retains 46 permanent full-time positions

  • Serves 617 individuals annually across early childhood education, behavioral health, and workforce development (100% low-income)

  • Establishes a 60-child early education center for children from birth to age five

  • Expands behavioral health capacity from 554 to 2,954 annual visits

Next
Next

Our House, Inc.