The Plaza at Chelten
LIIF provided a $14.5 million allocation of New Markets Tax Credits for the Plaza at Chelten, a transit-oriented, 50,000-square-foot retail center, anchored by an 18,000-square-foot Save-A-Lot grocery store. Located on a formerly vacant shopping complex, the Plaza at Chelten is now a vibrant retail plaza that provides local employment, healthy food options and neighborhood services to the Germantown neighborhood of Philadelphia, PA. The development brings much needed healthy food access and employment opportunities to an area classified as a food desert. Located near a train station and several bus lines, the Plaza at Chelten is the largest single commercial investment in the community in decades and created approximately 200 construction and 110 permanent jobs.
Project Details
- Impact
- 50,000 square feet of community retail space
18,000 square feet of healthy food space
110 permanent jobs created - Financing
- $14.5 million New Markets Tax Credit allocation
- Partners
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- Pulaski R.E. Partners, LP
- U.S. Bancorp Community Development Corporation
More Information
Community Capital for Community Facilities
New Markets Tax Credits
