Casa De Maryland, Baltimore

CASA de Maryland will break ground Tuesday on a $14 million renovation project in Southeast Baltimore to turn the former Belnord Theater into an employment center for immigrant and minority city residents.

University Crossings

Part of a larger initiative by Widener University to invest in its community, Becker & Frondorf worked with developer Teres Holdings to create University Crossings, a state-of-the-art mixed-use development adjacent to its Chester, PA campus. In addition to providing 70 new student apartment units and a 50-room hotel, the project includes 12,000 square feet of new retail and office space.

New Market West

New Market West is a four story, LEED certified 135,700 square foot commercial building (including a 42,800 square foot subsurface parking garage) that will create a hub for retail and community services near the 60th and Market Street El stop in West Philadelphia on a 1.5-acre vacant site. New Market West will bring high quality early childhood education, support for previously homeless single parent families, offices of a large behavioral health provider, and community-serving retail to a transit-accessible location together with affordable rental housing (in Phase 2 – not funded with this allocation) in neighborhood deeply in need of these services.

Punxsutawney Community Health Center

Primary Health Network (PHN) built a new 45,000 square foot, health and social services facility in Punxsutawney, PA thanks in part to Reinvestment Fund’s $11.5 million New Markets Tax Credit (NMTC) transaction with JPMorgan Chase as the investor. On a 7-acre parcel, the new site features 20 medical plus 10 behavioral health exam rooms, up from its previous 12 exam rooms, and allows PHN to double its total patient visits to 38,000 per year and increase the types of primary care services offered.

The Pythian

Rehabilitation of a building originally built for the Colored Knights of Pythias into mixed-income residential units, public food market, community nonprofit office space, and health care center.

Pan American Academy Charter School

Reinvestment Fund closed on its second charter school financing funded through the Chase New Markets Tax Credit Charter School Fund in 2011. The loan provided financing for the Pan American Academy Charter School (PAACS). With this financing, PAACS moved from an older, substandard facility into a newly constructed education and training center that can accommodate 717 students in grades K-8, the school’s maximum charter enrollment.

Bottino’s Shoprite

Bottino’s ShopRite in Vineland, the family-run grocery chain that included a community health clinic. The 74,000-square-foot supermarket added 100 new jobs, with more than half filled by Vineland residents. The Vineland Crossing Grocery and Retail Center will provide downtown Vineland and the surrounding community with a full-service supermarket providing increased varieties of healthy food choices at competitive pricing while participating in Special Supplemental Nutrition Programs such as electronic food stamps and WIC (Women, Infants, and Children) assistance programs for qualifying low income individuals. In addition, the retail shopping center will feature a Federally Qualified Health Clinic serving 5,000 patients a year as well as a pharmacy participating in the 340B Drug Pricing Program. It is anticipated that development of the Vineland Crossing project will catalyze further retail development in the Landis Avenue Corridor, which will in turn lead to additional economic development in downtown Vineland.

Progress Plaza

In 1968 civil rights leader Rev. Leon Sullivan built Progress Plaza, the nation’s first African-American-owned shopping center. Located in North Philadelphia, much of the center had fallen into disrepair since losing its anchor supermarket tenant in 1998. This past year, with support from the State and the Fresh Food Financing Initiative, Progress Plaza launched a major refurbishing effort. A new full-service, 46,000 square foot Fresh Grocer will anchor the center, creating 240 jobs. FFFI provided Progress Plaza with $250,000 in grants for predevelopment costs for the supermarket and has committed an additional $2.3 million in loans to the Fresh Grocer for renovations, equipment, security and training. Once redeveloped, Progress Plaza will complement other revitalization efforts in the neighborhood, including Avenue North, which received TRF’s New Markets Tax Credits to finance its multiplex movie theater and retail center just across the street

Primary Health Network – Sharon

The completion of an $8 million New Markets Tax Credits transaction to help fund the expansion and consolidation of healthcare services provided by Primary Health Network (PHN) in Sharon.
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