Monroe, Malcom Project

Closing Date: September 22, 2009
The Foundation recently provided a $215,000 loan to the Monroe DDA for the redevelopment of a 3.7-acre property in downtown Monroe. The property includes an early 1900’s depot, a former residence, an old cotton warehouse building, and an old grocery warehouse building. The completed project houses leasable space for as many as nine commercial businesses. The total project cost is $1,455,000.

Project Details

Loan Recipient
Monroe Downtown Development Authority

Sub-Recipient
N. Anderson Malcom

Project Cost
$1,455,000

GCF Loan Amount
$215,000

DD RLF Loan Amount, if any
$215,000

Project Use
Commercial
After
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