Parkway Foods

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Client

Parkway Foods

Project Size

47,000 square feet

Jobs Created

23 Jobs + 24 Additional FTEs

Fund Utilized

Description

Parkway Foods recently moved its operations to a new location in the Shops at Jefferson Village. The Company now occupies the former Farmer Jack’s space, which had been vacant for almost seven years. The new location increases Parkway’s retail footprint from 20,000 SF to 32,000 SF plus 15,000 SF of warehouse space. The additional retail space is being utilized to enhance and expand the products and services offered - which include a deli and prepared foods counter, pharmacy, fresh seafood counter and hardware section now available in the store.

Although this URLF investment represents a deviation from its targeted geography, it is consistent with the Fund’s mission of supporting fresh food grocers within the limits of the City of Detroit and returning vacant structures to productive use. Parkway Foods will support Jefferson Village, a 100+ single family residential development directly behind the new location. It will also provide Downtown Detroit residents with a fresh food, full-line grocer option in close proximity.

This redevelopment of retail space will greatly assist in reactivating a commercial strip that had been fully leased, but over time had become almost completely vacant subsequent to Farmer Jack’s closing. Parkway Foods will serve as a strong catalyst for re-leasing the substantial square footage available in the mall, which is essential to rebuilding and revitalizing the Jefferson corridor.

Funds Utilized

Financing Types