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Burlington, VT (2019)

Jake’s ONC LLC

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

Investor

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

Related Projects

South Gate, (2012)

Greenville, (2012)