Newark's Central Ward Gets First New Supermarket in 22 Years
Posted February 27, 2012
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A new, 31,000 square foot Food Depot supermarket is opening Tuesday, February 28 at 75 First St in Newark, NJ, the first full supermarket to open in Newark's Central Ward in 22 years.
The Food Depot, one of several new grocers to open in the City this year, is located in a rehabilitated warehouse which was vacant for over 10 years. The owners, Orfilio Chaviano Jr. and Nectalier Gonzalez III, have over 40 years of combined experience in the grocery industry.
Newark, like many urban markets, is under-grocered. Recent analyses show that approximately 38% of grocery dollars leave the City. New and redeveloped food stores can anchor neighborhood revitalization efforts, boost the tax base, create jobs and drive traffic to existing retail.
"One of BCDC's top priorities is working strategically to open three new grocery stores over the next 18 months in the City of Newark," said Lyneir Richardson, CEO, Brick City Development Corporation. BCDC's Fresh Foods Program focuses on both small grocers and supermarkets.
The total project costs for the Food Depot is $8 million. BCDC provided a $2 million loan though the BCDC/UEZ Loan Fund and Crown Bank provided the balance of the debt financing. Food Depot Supermarket will create over 100 jobs.
"We have a 3-person team charged with site selection, analysis and control; developer identification and attraction of national and local grocery store operators; and assisting with entitlements, permitting, and project financing to ensure that new stores come on line," saidRichardson.
NewarkWORKS provided funding to The Urban League of Essex County to recruit and train Newark residents for employment at Food Depot Supermarket. http://www.nj.com/news/index.ssf/2012/02/new_supermarket_opens_in_newar.html