Vallarta Van Nuys Supermarket

New Markets Tax Credit Coalition

Van Nuys,
CA
(2020)

Vallarta Van Nuys Supermarket

Adult Education, College or Vocational Training, Community, Grocery and Fresh Food, Historic Rehabilitation, Retail, Retail and Commercial

Funding for the Vallarta Van Nuys project was used for the substantial rehabilitation of the property to transform the 124,000 sq. ft. parcel of land into a 40,000 sq.

Investment

NMTC Amount: $35,000,000
Total Project Cost: $37,190,744

IMPACT

227 FTE jobs
30 construction jobs
The project is projected to serve an estimated 2,500 clients/day and an estimated 20,000 unique clients in a given year.
40,000 sq. ft. of real estate

CDEs

Local Initiatives Support Corporation, Los Angeles Development Fund, TELACU

Investor

Chase

Project Description

Funding for the Vallarta Van Nuys project was used for the substantial rehabilitation of the property to transform the 124,000 sq. ft. parcel of land into a 40,000 sq. ft. vibrant Vallarta Grocery store offering a significant amount of healthy food products. The store will create approximately 280 direct livable wage permanent jobs, which will be filled predominately by bilingual and low-income persons largely from the surrounding severely distressed community. The new grocery store is located in a designated ERS/USDA Food Desert and will serve an estimated 2,500 clients/day and an estimated 20,000 unique clients in a given year.

MAP

Address: 16040 Sherman Way, Van Nuys, CA 91406

Census Tract: 6037127604

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