Burlington, VT (2019)

Jake’s ONC LLC

Investment

NMTC Amount: 900,000

Total Project Cost: 1,400,935

IMPACT

13 FTE jobs

2 construction jobs

The acquisition of equipment, tenant buildout of 6,000 retail space and working capital to bring a locally owned grocery store to Burlington’s Old North End, a distressed community.

Project Description

Jake’s ONE, LLC, entails the acquisition of equipment, tenant buildout of 6,000 retail space and working capital to bring a locally owned grocery store to Burlington’s Old North End, a distressed community. Jake’s expands access to affordable, healthy and local foods. In addition to strengthening Burlington’s food system, Jake’s also provides access to a 300 square foot retail bank, a “microbranch” located within the store’s footprint. The acquisition of equipment and fit-up of a 6,000-square foot retail space, to provide access to healthy foods in Burlington’s Old North End, a distressed community which was lacking a walkable grocery store option for many years. Financing was provided from a Mascoma Community Development NMTC loan pool fund.

MAP

242 North Winooski Avenue, Burlington, VT 5401

News Stories

The acquisition of equipment, tenant buildout of 6,000 retail space and working capital to bring a locally owned grocery store to Burlington’s Old North End, a distressed community.

Burlington, VT

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