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.
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 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.
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
Community school for low-income children