How CA FreshWorks Fund Impacts CRE

OAKLAND, CA-Recently, First Lady Michelle Obama revealed the launch of the California’s FreshWorks Fund, a healthy food financing initiative focused on increasing access to healthy, affordable food in underserved communities. A project of The California Endowment and a team of partners, FreshWorks is a $200-million public-private partnership loan fund created to increase access to healthy, affordable food in underserved communities, spur economic development, and inspire innovation in healthy food retailing.

The California FreshWorks Fund is modeled after the successful Pennsylvania Fresh Food Financing Initiative and developed to align with the National Healthy Food Financing Initiative, according to a prepared statement. “The fund will make communities across California healthier by working directly with grocers on developing new and improved places to buy nutritious food.  According to CAFWF partners, the new stores are expected to create or retain around 6,000 jobs in California.”