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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
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