New Markets Tax Credit Coalition

Foodirect Inc.

Investment

  • NMTC Amount: $11,000,000
  • Total Project Cost: $20,167,218

IMPACT

  • 100 FTE jobs
  • 99 construction jobs

CDEs

Investor

Project Description

NMTC financing for a food distribution facility, Foodirect Inc., a full-service food distributor that has been family-owned and operated since 1944. The company stocks over 5,000 unique food products and is the largest full-service food distributor in the Hunt’s Point Cooperative Market, where the company has been located since the 1970s. Most of the company’s customer base includes bodegas and small grocery stores in the Bronx and Upper Manhattan. The company also services family-owned restaurants, diners, and pubs throughout the New York metro area.

MAP

Address: 200 Food Center Drive, Bronx, NY 10474

Census Tract: 36005011700

Other New York Projects

This multi-phase project transformed the long vacant building into a new headquarters for a nonprofit mental health counseling organization specializing in mental health support and drug dependency counseling, as well
$10.5 million new construction of a 9,500 sq. ft. Federally Qualified Health Clinic in East New York, Brooklyn.
The Boricua College project is the new construction of a 120,000 sq. ft. academic and administrative building for Boricua College in the Bronx.
Financing for the construction and renovation of five ALDI food stores in various regions of New York State; purchase equipment for a new stores; and pay related costs.