Fresh Grocer of Monument

Brown’s Super Stores acquired a former supermarket in Philadelphia, PA in a nationally designated food desert and significantly disadvantaged community. The 58,189 square feet supermarket underwent renovations and replacement of equipment and fixtures. The Project will provide heatlhy food with a focus on sustainability, health, greening food deserts, re-entry programs, and public-private partnerships.

Investment Type
Project financing includes a NMTC allocation of $7.0 million in New Markets Tax Credit allocation from Rose Urban Green Fund along with the CDE’s Commonwealth Cornerstone Group, LLC and Chase New Markets Corporation providing NMTC allocation of $10.0 million and $2.0 million respectively.  Chase Community Equity, LLC is the NMTC investor. 

Market
With a poverty rate of 36.9% the Fresh Grocer of Monument is located in a food desert and in an area of higher distress at the time of investment.

Community Impact
Fresh Grocer of Monument provides access to affordable fresh food in a designated food desert to a community with a significantly high rate of poverty. The project works towards zero waste by promoting sustainable practices which has resulted in a reduction of organic waste by 90%.  This is achieved by focusing on increasing food donations, single stream recycling and organic recycling programs.

The project created 103 direct FTE positions to the low-income community, of which, all full- time employees receive paid time off, health insurance, maternity/paternity leave, 401K, and educational training opportunities.

Through the creation of Health Clinics “QCare” in their stores, the Fresh Grocer of Monument increases access to primary and preventative health care for the communities that need it most.  The in-store clinics, sub-licensed to federally qualified health care clinics (FQHC’s) create access points for entry-level health and medical services in the medically underserved, low-income community.

The Monument Grocer works to bring free nutrition education to their customers to promote healthy food choices.  Customers can consult in-store nutritionists for advice on meal choices, healthy snacks, and other tips for a healthier lifestyle.

Developer/Sponsor
Brown’s Monument, LLC is the borrower/sponsor of this project with Jeffrey Brown, the founder, President, and CEO of Brown's Super Stores, Inc. Mr. Brown opened his first ShopRite in 1988, which has since developed into the 13-store supermarket business that he operates today throughout the Philadelphia and Southern New Jersey region. Each of the Company's stores is well recognized for its commitment to each local community where it does business.

Brown’s Super Stores has been recognized by numerous local and national media outlets (i.e. “CBS Sunday Morning,” the New York Times, and the Philadelphia Daily News) as well as The White House for its efforts in expanding healthy food access in areas that are considered “food deserts.”

Investor
Chase Community Equity, LLC is the Investor as well as a participating CDE in this project.