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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
335 New Downtown Businesses
2196 New Jobs Downtown
$208 Million in Private Investments
8 Cultural Facilities
347 Downtown Housing Units
157 Hotel Units Downtown
1,600,000 Redevelopment Floor Area sf
229,000 New Construction sf