Monroe, Mountain Creek Enterprises Project

Closing Date: December 8, 2006
On December 8, 2006, the Foundation closed a $250,000 loan to the Downtown Development Authority of the City of Monroe for the acquisition of three buildings and the renovation of one of the buildings at 112, 114, and 116 North Broad Street in downtown Monroe.

Project Details

Loan Recipient
Downtown Development Authority of the City of Monroe

Sub-Recipient
Mountain Creek Enterprises, Inc.

Project Cost
$1,070,500

GCF Loan Amount
$250,000

DD RLF Loan Amount, if any
$250,000

Project Use
Commercial/Restaurant/Hotel
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