The Grand Concourse project will bring a Fine Fare grocery store in the Bronx, NY. The ERF allocation will help fund the purchase and rehabilitation of 50,363 sq. ft. of a Landmark historic building for use as a grocery store and other retail/commercial tenants in the Bronx, NY. The grocery store will serve roughly 318,208, the Low-Income Community’s population comprised by the nearest zip codes. The grocery store operator will commit to a minimum of 50% of space dedicated to the sale of general line food products; 30% of space dedicated to the sale of perishable goods; and 500 sq. ft. of perishable goods space allotted to the sale of fresh produce. The provision of fresh food options by the grocery store in this LIC will help close the gap in healthy foods accessibility in this community, identified by the NYC government’s FRESH Program as having low access to a supermarket or grocery store. Eighty-eight percent (89%) of these residents are low-income, with an 18.1% unemployment rate, over two-times the national unemployment rate.

The potential healthcare or educational institution tenant is expected to serve 318,208 community residents within the LIC. The project encompasses the renovation of a historic building, creating a 50,363-sq. ft. commercial space with a Fine Fare brand grocery store as the anchor tenant. Negotiations are underway for one to two additional tenants serving low-income communities throughout the Bronx, potentially a medical service provider or a charter school. This investment is expected to create 100-150 permanent jobs in the Bronx, significantly impacting employment opportunities for the local community. The Grand Concourse project will generate approximately 70 jobs for the grocery store alone, with additional job opportunities available with the remaining tenants.