Jake's ONC LLC

Burlington,
VT
(2019)

Jake’s ONC LLC

Grocery and Fresh Food, Mixed-use and Commercial, Retail

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.

Investment

NMTC Amount: $900,000
Total Project Cost: $1,400,935

IMPACT

13 FTE jobs
2 construction jobs
27,700 low income community residents served based on a 2-mile radius
6,000 sq. ft. of real estate

CDEs

Mascoma Community Development

Investor

Chase

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 sq. ft. 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

Address: 242 North Winooski Avenue, Burlington, VT 5401

Census Tract: 50007000500

News Stories

Mascoma Closes $900,000 NMTC Expand Local Grocery Access Burlington’s Old North

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Burlington,
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(2019)

Grocery and Fresh Food, Mixed-use and Commercial, Retail

CDE(s): Mascoma Community Development

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.