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Tropical Foods Expansion Poised to Move Forward

Jan 03, 2014

Mayor Menino Announces Financing Complete for Dudley Square Project

Mayor Thomas M. Menino today announced financing for the future expanded home of Tropical Foods in Dudley Square has been finalized, allowing the first phase of development approved for Parcel 10 to move forward. The 2.1 acre parcel is a gateway to Dudley Square, located adjacent to the existing Tropical Foods store at 2101 Washington Street and the intersection of Melnea Cass Boulevard. The parcel is co-owned by the Boston Redevelopment Authority (BRA) and the Massachusetts Department of Transportation (MassDOT).

“I am so proud to see this important project moving forward in the heart of Roxbury,” Mayor Menino said. “Tropical Foods' expansion will be the next step in the continued revitalization of Dudley Square and will give our residents better access to a wider variety of fresh food.”

“The development of Parcel 10 is key to the economic vitality of Dudley Square, and we’re glad to be a partner with Mayor Menino on this effort,” said Jeffrey A. Simon, assistant secretary for real estate and asset development at MassDOT.

Tropical Foods has been a Dudley Square mainstay for over 40 years, and the new location will allow the grocery store to quadruple its current square footage to 40,000 square feet. The former Tropical Foods building will remain open while the new facility is constructed and following its completion the building will be refurbished and redeveloped as a mix of market rate and middle income affordable housing. Additional development planned at Parcel 10 includes the construction of a five-story retail and office building.

The new Tropical Foods facility has a total development cost of nearly $15 million and financing for the project will utilize $3.6 million of highly sought after allocations of New Market Tax Credits, provided through Bank of America, $1.4 million of MassWorks infrastructure program funding provided by the Executive Office of Housing and Economic Development (EOHED), and a $788,000 grant from the United States Federal Office of Community Services as part of its Healthy Food Initiative.

"By targeting investments that leverage private funds, we are working to support business and community development well into the future,” said Housing and Economic Development Secretary Greg Bialecki. "I look forward to continuing our work with the City and private investors to spur additional growth."

"Bank of America is proud to be a part of this critical investment in Dudley Square, which will help revitalize the neighborhood. This project is a great example of our commitment to
community development through the partnership of our Tax Credit Equity Investment and
Business Banking teams,” said Bob Gallery, Bank of America Massachusetts.

Through an RFP process conducted by the BRA and MassDOT, Madison Tropical LLC was granted tentative designation for the redevelopment of Parcel 10 in May 2013. The BRA and MassDOT worked with the Roxbury Strategic Oversight Committee and the development team through the tentative designation process to craft a multi faceted development program at the site.

The redevelopment of Parcel 10 is an integral component of the overall Dudley Square vision, which includes the $115 million restoration of the Ferdinand Furniture building into the new headquarters of the Boston Public Schools and the proposed redesign of the Dudley Square Library. More than $300 million of public and private sector investment has been made in the area in the last 10 years, including the new Area B2 police station, the Eustis Street fire station, and Palladio Hall.

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Tropical Foods Expansion Poised to Move Forward

Jan 03, 2014

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