Milwaukee, WI (2015)

Cermak Grocery Store

Investment

NMTC Amount: 9,370,177

Total Project Cost: 11,177,174

IMPACT

80 FTE jobs

120 construction jobs

The project consisted of the initial phase of the redevelopment of a vacant 7.2 acre Brownfield Site at Greeneld Avenue and S. 1st Street in Milwaukee, WI.

Project Description

Cermak is a Chicago-based supermarket chain that specializes in providing unique grocery stores in urban neighborhoods that offer to a variety of ethnic and localized foods. This new construction project was combined with the construction of new apartments as well. The project consisted of the initial phase of the redevelopment of a vacant 7.2 acre Brownfield Site at Greeneld Avenue and S. 1st Street in Milwaukee, WI. The initial $28.4MM project consists of the environmental remediation of the site and vertical construction of two buildings.

The first building is an $11.2 million, 42,000 sq. ft. Cermak Fresh Market grocery store that will include fresh produce, local and international groceries, meats, fresh fish, dairy and bakery.

The second building was a $16.2 million, 82.392 sq. ft. mixed-use building that consists of 16,500 sq. ft. of first floor retail space and ninety-four residential units. The residential units will include studio, one-bedroom, and two-bedroom apartments above, of which at least 20% of which was designated affordable.

The grocery and first floor retail space will bring commercial goods to 187,368 residents within a three mile radius of the site of which 53.5% or 100,243 are low-income while also helping to mitigate the $111.3MM of annual retail leakage in this three mile radius.

The grocery store will eliminate an adjacent USDA Food Desert and the project will act is the catalyst for the remaining development of the Brownfield site.

The project is expected to bring 120 direct construction jobs and a projected 155 permanent jobs to a community with 40.4% poverty, incomes at 50.41% of the area median and 2.5 times the national unemployment rate.

MAP

1236 South Barclay, Milwaukee, WI 53204

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