Project Category: Substantial Improvement Property
Eliminating urban food deserts can be achieved and sustained by establishing green industry jobs and by bringing a local, regional food system to the urban marketplace. This Agribusiness will leverage for-profit and non-profit capacity, utilize vertical and horizontal integrated systems and feature contemporary Green Technology advances.
A regional food system represents a promising avenue for economic growth for both rural and urban communities through the creation of new or the enhancement of existing jobs and businesses and can advance the economic and financial security of low income households and communities. What is especially interesting about this work is that the approaches that support the development of regional food systems not only contribute direct economic benefits to the community, but can also open the door for improved access to healthy food and other positive outcomes that could result in improved community health and a more productive workforce.
Project Qualification: Substantial Improvement PropertyReal Estate: IndustrialTotal Capital Required: $22,000,000Equity Required: $6,000,000Debt Required: $4,000,000Project Control: We have agreement on terms to acquire the key propertyTimeline: 30-90 daysAddress: Delaware Ave and Lewis Street Philadelphia Pennsylvania 19137 United StatesFile: FoodAccessSolution.pptx
Invincible City Foundation will build a local food system to eliminate food deserts and cultivate nutrition, economy and dignity for the people of Camden and the surrounding region. Creating a sustainable food system in underserved communities improves health outcomes, creates jobs and helps to revitalize low-income neighborhoods while:
• conserving natural resources
• growing locally grown and prepared foods of superior taste and quality
• making the community a better place to live in
Invincible Cities will access private, public and foundation capital and turn that seed funding into an innovative, socially responsible driver of economic opportunity. For every $1 invested, there will be $74.67 in direct social return.
Scale is an important factor in Invincible City Foundation’ redevelopment plans. The scale of its operation, it’s socially oriented mission and its multi-faceted business plan become the basis for social impact around poverty, crime and blight reduction, health and community impacts and supports and a wide variety of strategies to offset negative impact and plant the seeds for significant investments in three Camden neighborhoods and within the wider community.