Boston Community Capital and Reinvestment Fund partnered to use HFFI funding to support acquisition/predevelopment financing for Vicente Tropical Supermarket in Brockton, MA. The market primarily serves the immigrant community in Brockton and the surrounding area, and an estimated 70% of its customers are Cape Verdean and Haitian. The new store is located in a low-income tract (59% AMI) that is underserved by healthy food retail. The Brockton Community Health Center has agreed to develop an adult primary care/wellness clinic on the same site, adjacent to the new 32,000-square-foot Vicente Tropical Supermarket. The new store is projected to create 96 permanent jobs. You can find more information about BCC here and Reinvestment Fund here.
Source of money: HFFI CDFI-Financial Assistance Program
Note: Reinvestment Fund is a CDFI headquartered in Pennsylvania that finances projects in Maryland, Massachusetts, New Jersey, and Pennsylvania.