2551 Central Avenue Northeast, Minneapolis, MN
Landon Group secured financing, ensured financial closing, and managed monthly closing draws
New Market Tax Credit Equity; Loan from Self-Help; Subordinate loans from Local Initiatives Support Corporation (LISC) and the City of Minneapolis
5,835 square feet expansion
- $6.7 million total development cost
- Zeman Construction
- WCL Associates, Inc.
Eastside Food Co-op (EFC) is a member-owned and operated, high-quality, natural foods cooperative. Since opening in 2003, EFC had seen unprecedented growth and expanded the store to continue serving the community.
The EFC expansion included filling its existing building, which formerly had two other commercial tenants, and adding to the building. EFC purchased two additional parcels to the south, one that was occupied by a dilapidated and vacant structure. The new construction contributes to a stronger presence along Central Avenue with the addition of approximately 80 linear feet of storefront, plus significant bike parking. The placement of the building reinforces the street wall, facilitates pedestrian access, and maximizes natural surveillance.
The EFC expansion created more than 20 new jobs and was completed in early 2016.