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GrowNYC Launches Cold-Storage Facility in Hunts Point
City and state officials joined nonprofit GrowNYC to celebrate the start of construction for the New York State Regional Food Hub, a joint state and city project in the Hunts Point neighborhood of the Bronx.
A 60,000-square-foot cold-storage facility, the new food hub will expand GrowNYC’s wholesale distribution infrastructure making high-quality, local foods accessible to underserved New Yorkers through wholesale buyers, including institutions and restaurants, and through partnerships with nonprofit organizations. It will enable GrowNYC to expand its annual distribution to 20 million lbs., up from 5.4 million lbs. in 2020.
The $39-million project received major funding from city and state agencies, New Markets Tax Credit Financing from NYC Neighborhood Capital Corporation and J.P Morgan Chase Community Development Banking, additional funding from the Federal Economic Development Administration, Bank of America Foundation and Green Mountain Energy, and bridge financing from Farm Credit East, Low Income Investment Fund and Enterprise Community Partners.
- ◦Development
