Celebrations Commence at New South Bronx Community Hub

Low Income Investment FundJuly 19, 20160 Comments

A crowd gathered last week to celebrate the grand opening of Triangle Plaza Hub, a development that now provides access to nutritious food, health services and educational opportunities to residents of New York’s South Bronx community. Anchored by Fine Fare supermarket, the grocer will bring healthy, affordable food to one of New York’s largest food deserts. Other retail and service providers now residing in Triangle Plaza Hub include Metropolitan College of New York, Brightpoint Health, DaVit Dialysis Center and Vistasite Eye Care.

During the ceremonial ribbon cutting, Bronx Borough President Ruben Diaz Jr. celebrated alongside partners representing the Food Trust, Goldman Sachs, the Low Income Investment Fund (LIIF) and Triangle Equities. “Projects like Triangle Plaza Hub are steps in the right direction towards an even greater Bronx and better options for those who live here,” said Mr. Diaz. “By bringing new business, creating more jobs and providing products and services in our community, this project will provide a real asset for the people of this community and The Bronx as a whole. We welcome the commercial and retail aspects of this new development that underscore the commitment of business owners and investors to our borough as, well as their acknowledgement that The Bronx is a very welcoming marketplace for them. The Bronx continues to attract new businesses and add new jobs, and this project is a key piece of our continued revitalization.”

This project will provide a real asset for the people of this community and The Bronx as a whole.

Key to the development’s success were New Markets Tax Credits, totaling $36 million, which provided the flexibility to connect Triangle Plaza Hub’s essential elements. Additionally, support from New York City’s Food Retail Expansion to Support Health (FRESH) initiative and the New York Healthy Food & Healthy Communities Fund (HFHC) were integral to opening the doors to a reinvigorated supermarket at Triangle Plaza.

“LIIF is proud to have partnered on the Triangle Plaza Hub project, which will connect South Bronx residents with healthy, affordable food in addition to education opportunities for working adults and expanded access to health care – resources needed for people to thrive,” said Kirsten Shaw, Director, Eastern Region, at the Low Income Investment Fund (LIIF). “We are pleased that our New Markets Tax Credit allocation and financing from the New York Healthy Food & Healthy Communities Fund helped realize this vision for an integrated approach to building a healthy community.”

What was once an underutilized municipal parking lot is now home to critical services and resources for all South Bronx community members. As the surrounding area continues to transform, Triangle Plaza Hub will help economically empower residents and impact generations to come.