Monroe, LR Burger

Closing Date: December 5, 2019
On December 5, 2019, the Foundation provided a $211,439 loan to the Downtown Development Authority of the City of Monroe to assist in partially financing the acquisition and build-out of a commercial building located at 202 E. Spring Street in downtown Monroe. The Authority provided a simultaneous loan to Pimento Investments, LLC, the project's developer. The completed project houses a restaurant, LR Burger.

Project Details

Loan Recipient
Downtown Development Authority of the City of Monroe

Sub-Recipient
Pimento Investments, LLC

Project Cost
$1,074,597

GCF Loan Amount
$211,439

DD RLF Loan Amount, if any
$211,439

Project Use
Restaurant
After
Before
Foundation Project Impacts
299 New Downtown Businesses
1728 New Jobs Downtown
$147 Million in Private Investments
8 Cultural Facilities
288 Downtown Housing Units
157 Hotel Units Downtown
1,352,805 Redevelopment Floor Area sf
200,267 New Construction sf