Hitchcock’s Market

In rural Dixie County, Florida, there was only one grocery store, and its 30-year old building had become run down. With NMTC financing, Hitchcock’s Market, a small regional chain, built a new 26,000 square-foot full service grocery store, including a pharmacy, on an adjacent site. The area is a USDA food desert, and now serves 16,000 area residents annually – the majority low-income.

Armature Works

The Armature Works building was originally built in 1910 as a streetcar maintenance facility. With NMTC financing, the facility was renovated, and now includes local market and food vendors downstairs, and a small business incubator and co-working space upstairs. The overall building includes 76,500 sq feet and has created or retained an estimate 900 jobs. The area is a USDA Food Desert, and in addition to offering local, fresh foods, it encourages small businesses and has stimulated economic development in the surrounding area.

Harrison Fresh Market

Robert Fresh Market has successfully rehabilitated a vacant 21,000 square foot building into a new full-service grocery store. The building formerly housed a successful community grocery store which was severely damaged during Hurricane Katrina and never reopened. The Harrison Fresh Market provides a critical service to the Lakeview neighborhood while contributing to the ongoing recovery of New Orleans from the effects of Hurricane Katrina. In addition, the restoration of this blighted building greatly improved a vital area within the Lakeview neighborhood retail hub. Currently, there are three grocery stores in the New Orleans area under the Robert Fresh Market moniker with approximately 250 employees.

The ReFresh Project

As part of an overall neighborhood vision for the Broad Street Commercial Corridor in New Orleans, the ReFresh Project is helping to drive revitalization. A former abandoned building will soon become a new space for businesses to operate, and for community groups and residents to engage and collaborate. Approximately 88 permanent and 61 temporary full time jobs will also be created. Chase originated an $8 million New Markets Tax Credit construction loan to support revitalization efforts for the corridor. Additional financing includes a $1 million loan from the City of New Orleans Fresh Food Retailers Initiative and $900,000 in the form of two loans from the New Orleans Redevelopment Authority. The building supports Firstline Charter Schools, Broad Community Connections, Whole Foods Market, Liberty’s Kitchen, and Tulane Unviersity.

Town and Country Foods

Town & Country Foods, Inc. (T&C), owned by the Perlinski family, has been in the business of providing low-cost groceries in Bozeman, Montana for four decades. T&C began its warehouse style of grocery store in an old tea cannery building in Bozeman’s industrial neighborhood. Through the years, T&C has become a fixture in the Bozeman community, offering affordable, local, and organic groceries. In 2009, the Perlinski’s considered opening a second store in Bozeman’s underserved, low-income, Southside neighborhood that did not have a local grocery. To help T&C open its second location and reach an underserved community, Montana CDC, working with Big Sky Western Bank, provided $8 million in NMTC financing for the purchase and renovation of a vacant movie theater. The newly renovated T&C houses the grocery store, which provides the Southside community access to local and organic groceries, and also includes additional retail and restaurant space in an area of town with few commercial services. The NMTC investment generated over 60 permanent full-time jobs, 10 part-time jobs and 100 construction jobs, all in an area with an unemployment rate well above the national average. T&C has a stellar track record of employee loyalty and these high quality jobs feature excellent benefits, including employee ownership options. T & C has created a catalytic effect on Bozeman’s Southside neighborhood. New infrastructure improvements such as a new traffic light, new bike lanes, and improved sidewalks and streetscapes provide an anchor for future commercial services and encourage foot traffic. The neighborhood has also become more resident friendly, witha grocery store where people need it, and making the area more amenable for further development. Since T&C moved into the neighborhood, the area has been designated a residential emphasis mixed-used zoning area (REMU) which will encourage more services and development of the area. In fact, two previously vacant lots have recently been identified for development into mixed use housing and commercial spaces.

Foley Grocer

The Project is the 5th phase in a 5-phase commercial development located at the Project site in Foley, AL. Although the Project is technically the last phase of the development, the 4th phase of retail development (approximately 68,500 sq. ft.) is fully contingent upon the 5th phase being completed initially. Therefore, the completion of the Project will spur the immediate catalytic development of additional retail activity, which will support $11.7 million of additional private investment that will create an estimated 150 jobs.

Good Grocer

Good Grocer has to relocate because Hennepin County is using the land for a new exit ramp off 35W. new home is 2644 Nicollet Ave. South, Minneapolis, MN 55408. That’s just four blocks from current location. At the moment it’s a vacant lot, but construction on a new store will begin soon.

Pullman Park

The $17 million first phase of development of Pullman Park encompasses a 52-acre big box retail development that includes a 148,000 square foot Wal-Mart and 257,000 square feet of additional retail development. The entire build-out of the community is anticipated to take seven to ten years.

Festival Foods

Financing for the construction of Festival Foods’ fifth store in the Green Bay area and 25th in Wisconsin. The store includes new features like a community room, a dining deck above the deli, a Tot Spot for children and a more open design than earlier stores. The store employs 225 people and is part of a redevelopment of the University Avenue triangle initiated last year. The redevelopment also includes a 9,000-square-foot, standalone retail center. A Kwik Trip will be built just west of the new store.

Rego Park Aldi

One of five small loans in the amount of $2 million or less to: (i) finance the construction and renovation of five ALDI food stores in various regions of New York State; (ii) purchase equipment for the new stores; and (iii) pay related costs. The five stores will be located in Ilion, Massena, Gates, Harlem and Rego Park.
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