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
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