NEWARK-Newark Mayor Cory Booker, officials of Brick City Development Corp. and other officials have opened the first new full-service supermarket in the city in 22 years, Food Depot at 75 First St. here.
The 31,000-square-foot market is located in a rehabilitated warehouse, which had been vacant for 10 years. The development was funded in part by BCDC’s Fresh Foods program, part of the city’s Strong Healthy Community initiative. The BCDC program focuses on both small grocers and supermarkets, and Food Depot is the first of three planned markets to open in the next 12 to 18 months.
“It was a good day for Newark,” BCDC CEO Lyneir Richardson tells GlobeSt.com. “This is almost an economic development prototype, with local owners, foundation dollars from the Victoria Foundation and developer equity.”
Food Depot owners Orfilio Chaviano Jr. and Nectalier Gonzalez III, have over 40 years of combined experience in the grocery industry. The location has high visibility, 80 parking spaces, and a strong demand. According to recent analyses, BCDC says, 38% of grocery dollars leave the city.
BCDC provided a $2 million loan toward the $8 million Food Depot Project though the BCDC/UEZ Loan Fund and Crown Bank provided the balance of the debt financing. The project created more than 100 jobs, with employees recruited and trained by NewarkWORKS, NewarkNow, and the Essex County Urban League.
More projects are in BCDC’s pipeline, and Richardson hopes for a national supermarket in the near future, as well as other developments.
“We’ve looked at which developments and projects could get done,” he says. “And there are 15 other projects in the pipeline.
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