LIIF Provides Healthy Food Financing Loans in Maryland & Harlem Food Deserts
LIIF recently invested $1.5 million in Healthy Food Financing Initiative (HFFI) dollars to two high-need Food Deserts in Maryland and New York. These investments will help bring fresh produce and whole foods to neighborhoods with higher-than-average rates of poverty and poor health outcomes like diabetes, hypertension and obesity. Funding was made possible by an award from the CDFI Fund.
Market and Community Outreach in Maryland
In Prince George’s County, Maryland, just two miles from the Washington, DC border, a new grocery store will bring seasonal produce, dry goods and a fresh foods café to a high poverty Food Desert where 38% of residents are obese. LIIF provided Good Foods Market with a $750,000 construction loan for the market, which will partner with Oasis Community Partners, a local nonprofit specializing in community engagement, youth education, and nutrition education.
Co-Located Supermarket and Affordable Housing in Harlem
LIIF provided $750,000 in HFFI financing for the fit-out of a new 7,300 square foot, full-service supermarket on the ground floor of a 75-unit affordable housing development known as The Frederick in Central Harlem. The market will drastically expand healthy food options for a neighborhood with twice the national poverty rate and currently underserved by grocery stores.